Weill Cornell Medicine Acquires Office Building At 1334 York Avenue From Sotheby's For $510M
1334 York Avenue
$510,000,000
$1,023/SF
Building Size
498,100 SF
Asset Type
Office
Closing
Sep 30, 2025
About this deal
AI
The property asset involved in the transaction is located at 1334 York Avenue in the Lenox Hill market. Weill Cornell Medicine acquired the office asset for $510,000,000. The property encompasses a total of 498,100 square feet.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $510,000,000
- Buyer: Weill Cornell Medicine
- Seller: Sotheby's
- Date of Sale: 10/1/2025
- Square Footage: 498,100
- Market: Lenox Hill
- Brokers: David Giancola, Geoff Goldstein, Steven Klein, David Carlos & Joe Messina - JLL; Doug Middleton, Mary Ann Tighe & Lauren Crowley - CBRE
The individuals and companies involved in the deal include brokers David Giancola, Geoff Goldstein, Steven Klein, David Carlos, and Joe Messina representing JLL, along with Doug Middleton, Mary Ann Tighe, and Lauren Crowley from CBRE. Their involvement facilitated the transaction in this significant office property sale.
On the Map
$510,000,000
$1,023/SF
Office
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Players
New York Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.03%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93