NYU School of Medicine building in Garden City trades for $11.5M

Meridian Imaging Group has sold a 16,920-square-foot medical office building in Garden City to an undisclosed buyer for $11.47 million, according to GlobeSt. The outlet cited a press release from HFF, which brokered the deal and is itself poised to be acquired by fellow commercial brokerage JLL in a $2 billion cash-and-stock transaction announced last week. The New York University School of Medicine holds a 14-year triple net master lease on the building at 224 Seventh Street, which was built in 1969 and converted to a medical imaging facility in 2007. HFF’s team handling its sale included senior managing directors Jose Cruz, Kevin O’Hearn and Andrew Scandalios, along with senior directors Ben Appel, Michael Oliver and Steve Simonelli. Inland Real Estate Acquisitions facilitated the purchase of the property. [GlobeSt]