CSC Real Estate Acquires Three Medical Properties on Upper East Side for $70M
By Mark Hallum June 5, 2026 12:08 pm
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CSC Real Estate, a private equity and development firm, has acquired a medical office property at 210 East 86th Street on Manhattan’s Upper East Side, Commercial Observer has learned.
The Upper West Side-based buyer also acquired the adjacent retail spaces at 206 East 86th Street and 205 East 85th Street from Stephen Perlbinder’s Perlbinder Realty, according to property records. Current retail tenants at those properties include dessert shop Baked by Melissa at 206 East 86th Street and appliance store P.C. Richard & Son at 205 East 86th Street.
The sales were part of an investment in medical offices and facilities, citing 2 percent vacancy rates in that sector, representatives for the buyer said. CSC said it plans to position the full property as a “premier medical office destination” on the Upper East Side.
CSC did not disclose the sale price for the three properties, but a source with knowledge of the deal said it was a total $70 million sale.
“We have already seen significant inbound interest from physicians and medical groups seeking space on the Upper East Side,” Salo Smeke, a co-founder and managing partner at CSC Real Estate, said in a statement. “As health care providers continue to be displaced from Park and Madison avenues, demand for well-located, high-quality medical office space remains extremely strong. We believe the combination of the property’s location, planned improvements and existing health care presence positions it to achieve full occupancy in the near term.”
Avison Young‘s Brandon Polakoff, Alexandra Marolda, James Nelson and Lea Voytovich represented the seller in the transaction.
The brokerage did not immediately respond to a request for comment, while Perlbinder Realty could not be reached for comment.
The 127,000-square-foot property at 210 East 86th Street was leased in June 2025 to New York Cancer & Blood Specialists, which took 10,500 square feet at the property, CO reported at the time. Weill Cornell Medicine also leases a portion of the building for its pediatrics center.
“The acquisition of 210 East 86th Street represents a rare opportunity to invest in a high-quality asset within one of the strongest health care real estate markets in the country,” Alberto Smeke, a co-founder and managing partner at CSC Real Estate, said in a statement. “With exceptional demographics, strong tenant demand and limited available supply, the property is well positioned for long-term value creation.”
Mark Hallum can be reached at mhallum@commercialobserver.com.
