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Judy Minster Of Joyland Management Acquires Former Beth Israel Medical Center For $33.5M

Property Image
SOLD
$33,500,000
John Ciraulo
Craig Waggner
+ 1

New York

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Commercial
Sold 01/06/2025
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Property Image
SOLD

Judy Minster Of Joyland Management Acquires Former Beth Israel Medical Center For $33.5M

313-319 East 17th Street

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Commercial
Sold 01/06/2025
John Ciraulo
Craig Waggner
+ 1
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Summary

NEW YORK
Asset Type:Commercial
Transaction Type:Sale

The property involved in this transaction is a former Beth Israel Medical Center building located at 313-319 East 17th Street in Gramercy Park. The sale price for the property is $33.5 million. Potential future plans may involve converting the building into luxury condos, apartments, or housing.

Summary of transaction details:

The deal includes key individuals such as Judy Minster, who represents Joyland Management, and Brendan G. Carr, who represents Mount Sinai Beth Israel. The brokers involved in this transaction are Craig Waggner, Jack Stephen, John Ciraulo, and Jonathan Serko, all from Cushman & Wakefield.

Players

John Ciraulo
47 deals$732.2M volume(212) 660-7700
BROKER

Craig Waggner
Cushman & Wakefield
46 deals$696M volume
BROKER

Jonathan Serko
Cushman & Wakefield
4 deals$60.5M volume
BROKER

Jack Stephen
Cushman & Wakefield
12 deals$166.5M volume(212) 841-5099
BROKER

Details

SOLD
IMAGE: Brendan G. Carr, Judy Minster, John Ciraulo, Jack Stephen, Craig Waggner & Jonathan Serko DATE: 01/06/2025 ADDRESS: 313-319 East 17th Street MARKET: Gramercy Park ASSET TYPE: Commercial BUYER: Judy Minster - Joyland Management SELLER: Brendan G. Carr - Mount Sinai Beth Israel (@MountSinai_BethIsrael) BROKERS: Craig Waggner (@Craig_Waggner), Jack Stephen (@JackHaroldStephen), John Ciraulo (@JohnCiraul) & Jonathan Serko - Cushman & Wakefield (@CushWake) SALE PRICE: $33,500,000 NOTE: Joyland Management purchased a former Beth Israel Medical Center building at 313-319 East 17th Street for $33.5 million, with potential plans for conversion into luxury condos, apartments, or housing.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,786,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$119,018.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$158,807.09
Annual Debt Service$1,905,685.09