North Shore-LIJ Health System Leases 6K-SF Medical Condo
Lauren Elkies Schram Nov. 3, 2014, 3 p.m.
North Shore-LIJ Health System has signed a lease for a 6,000-square-foot medical condominium unit owned by the Simone Healthcare Development Group on the Upper East Side.
The Diamond House, a residential building at 170 East 77th Street between Third and Lexington Avenues will accommodate ground-floor medical offices, a patient service center and general administrative offices, according to a release from Simone Healthcare Development.
North Shore-LIJ Health System includes 16 hospitals and nearly 400 physician practice locations throughout New York, took the lease for 10 years. The asking rent was $85 per square foot.
The condo had been vacant for some time before Simone Healthcare Development acquired the condo unit, which has its own entrance separate from the residences above, earlier this year. Simone Healthcare Development will be delivering a complete turn-key build-out to the tenant, and the facility is expected to be open for business during this month. Simone declined to indicate the purchase price and it wasn’t available in property records.
Paul Wexler and Josef Yadgarov of Wexler Healthcare Properties Team, a division of The Corcoran Group, were the lone brokers in the deal. Simone was also represented in-house in the transactions by Patricia Simone.