Sales Beat

Hospital for Special Surgery Pays $31 M. for Upper East Side Development Site

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Hospital for Special Surgery has purchased a development site at 517 East 73rd Street and 523 East 73rd Street for $31 million, where it plans to expand its campus along the Upper East Side, The Commercial Observer has learned.

The property, between York Avenue and the FDR Drive, is within a few blocks from the hospital’s main campus at 535 East 70th Street, and in close proximity to the other hospital and medical centers that support the Upper East Side.

“On behalf of the sellers, we were able to secure a not-for-profit buyer, which is a great fit for this property and complementary to the medical character of the neighborhood,” said Jon Epstein of Avison Young in a statement, who represented the seller, a private family owner, with Vincent Carrega. “This site presented a unique opportunity for Hospital for Special Surgery to develop a new facility near to its existing main campus.” Read More