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313-319 East 17th Street

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

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:

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

Cushman & Wakefield

Broker

$747.3M

vol

48 deals

Broker

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