First New All-Medical Building on the Upper East Side in Decades
Wexler Healthcare Properties at the Corcoran Group has been retained to launch the leasing of PARK SIXTY MEDICAL at 110 East 60th Street, the Plaza District’s newest premier medical building.
Ownership, a joint venture between affiliates of Princeton International Properties and Dune Real Estate Partners is currently implementing a $20 million redevelopment program. When complete, the 15-story building is expected to accommodate 155,000 square feet of contiguous medical space with infrastructure in place for Article 28 compliance, a major advantage for medical groups seeking space in New York City. The floorplates are flexible and lay out well for both single and multi-tenant floors. Construction of a model suite is underway to demonstrate to prospective tenants the high quality finishes being provided on turnkey installations.
“Ideally located on the cusp of the residential and business communities on the East Side in the Plaza District and near six subway lines around 59th Street and Lexington Avenue, PARK SIXTY MEDICAL is an incredibly exciting opportunity for medical providers to offer the utmost of convenience for their patients,” said Paul Wexler of The Wexler Healthcare Properties Team at Corcoran. “This premier medical building will offer both medical professionals and patients everything under one roof.”
Scheduled to open in the second quarter of 2017, the building is programmed to include brand new glass facades along 59th and 60th streets as well as a modern lobby. Medical tenants and patients will enter the building from 60th street into a brand new lobby that was designed by Perkins Eastman, the base building architect for the project.
About Princeton International Properties:
Princeton International Properties is a privately held opportunistic real estate organization owning and managing over 1.5M square feet. The Principals of the firm are involved in all aspects of the portfolios operations and deploy its own full-time construction and management teams resulting in an efficient and streamlined enterprise.
About Dune Real Estate Partners:
Dune Real Estate Partners LP is a New York City-based real estate investment firm currently executing an opportunistic strategy with a focus on distressed, deep value-add and contrarian investing, primarily in the United States. The firm's sole focus is on assembling and managing a diversified portfolio of compelling, opportunistic real estate investments. Dune manages the Dune Real Estate Funds which were launched by Mr. Daniel M. Neidich in 2005 and have raised $2.5 billion of equity capital.
About the Wexler Healthcare Properties Team at The Corcoran Group
The Wexler Healthcare Properties Team at The Corcoran Group specializes in healthcare properties. Paul Wexler has played an active role as the leader in healthcare related real estate transactions throughout the metropolitan area for more than 30 years. Mr. Wexler's client base of healthcare professionals and real estate developers, brokers and others in the medical and real estate industries have enabled him to consummate more than 1,500 health care-related real estate transactions. For more information about the Wexler Healthcare Properties Team, please visit www.healthcare-properties.com.
