Simone Buys UES Medical CondoPublished: 4/15/2015Source: Real Estate Weekly
Featuring Paul Wexler and Kathleen Caracappa's commercial listings at 225 East 64th Street, Upper East Side, Manhattan: http://rew-online.com/2015/04/15/selling-points-end-for-kensington-funeral-home-mm-brokers-88m-portfolio-sale/
Simone Healthcare Development has purchased a 10,500 s/f medical office condominium in The Concorde apartment tower at 225 East 64th Street on the Upper East Side.
The medical condo, which occupies the entire lower level of the luxury building, is the fourth such acquisition by Simone Healthcare in the neighborhood over the past two years.
The company now owns over 50,000 s/f of medical space in the area.
“There is a dearth of quality medical office space available on the Upper East Side, with a particular lack of availability in spaces larger than 4,000 square feet,” said Guy Leibler, president of Simone Healthcare Development.
“We believe there is a great opportunity to acquire and improve medical spaces to serve the needs of expanding practices.”
Paul Wexler of Corcoran Wexler Healthcare Properties has been appointed exclusive agent for the new space. Rents for medical space in the area range from $70 to $90 psf.