City’s biggest hospital system in talks for $300M UES buy

The Third Avenue properties are owned by the Glick family

1345 Third Avenue
1345 Third Avenue

Northwell Health, the city’s biggest hospital system, is in talks to buy residential and retail properties along Third Avenue on the Upper East Side for nearly $300 million.

The company, which owns 18 hospitals, could knock down the properties — which are located between East 76th and 77th streets and owned by the Glick family — and build a 250,000-square-foot building, Crain’s reported. It’s not clear if Northwell plans to do that.

The office of the family-owned Mautner-Glick is located at 1345 Third Avenue, one of the buildings in the Glicks’ portfolio.

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If the deal goes through at the price that’s being negotiated, Northwell would pay nearly $1,200 per square foot. The parcels are a block away from one of the company’s other hospitals, Lenox Hill Hospital.

Last month, Memorial Sloan Kettering Cancer Center signed a 48-year lease to fully occupy a 100,000-square-foot building at 330 East 62nd Street. [Crain’s] — Kathryn Brenzel