Judy Minster Of Joyland Management Acquires Former Beth Israel Medical Center For $33.5M
313-319 East 17th Street
$33,500,000
Building Size
—
Asset Type
Commercial
Closing
Jan 6, 2025
AI
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:
- Property Type: Commercial
- Transaction Amount: $33,500,000
- Buyer: Judy Minster - Joyland Management
- Seller: Brendan G. Carr - Mount Sinai Beth Israel
- Brokers: Craig Waggner, Jack Stephen, John Ciraulo & Jonathan Serko - Cushman & Wakefield
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
New York Commercial Market Snapshot
Boundary boundary · Commercial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.47%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93