Trending

Former nursing home goes for $80M

Sign Up for the undefined Newsletter

Local investors the Sigety family sold 1760 Third Avenue for $80 million to a partnership comprised of an unspecified individual investor and educational institution. Shimon Shkury of Massey Knakal and his team brokered the deal. The school plans to convert the 19-story, 247,000-square-foot building on Third Avenue between East 97th and East 98th streets into a dormitory. Schools across the city have had a tough time securing new student housing in recent years as land values and construction costs have soared. The 1970-vintage property was previously the Florence Nightingale Health Center, a nursing home. TRD

Recommended For You