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Weill Cornell Medicine Acquires Office Building At 1334 York Avenue From Sotheby's For $510M

Property Image
SOLD
$510,000,000
Steven (Steve) Klein
Geoff Goldstein
+ 4

New York

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Office498,100 SF
Sold
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Property Image
SOLD

Weill Cornell Medicine Acquires Office Building At 1334 York Avenue From Sotheby's For $510M

1334 York Avenue

See Similar Deals
Office498,100 SF
Sold
Steven (Steve) Klein
Geoff Goldstein
+ 4
Contact now

Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$1023
Total Square Footage:498100 SF
Transaction Type:Sale

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:

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.

Players

David Giancola
16 deals$1.9B volume(212) 632-1831
BROKER

Doug Middleton
CBRE
34 deals$6.3B volume(917) 767-6955
BROKER

David Carlos
Savills
4 deals$575.7M volume(212) 376-5444
BROKER

Geoff Goldstein
JLL
54 deals$7.9B volume
BROKER

Steven (Steve) Klein
JLL
52 deals$3.9B volume(212) 632-1838
BROKER

Joseph (Joe) Messina
JLL
14 deals$559.5M volume
BROKER

Mary Ann Tighe
CBRE
29 deals$1.1B volume(212) 984-8128
BROKER

Mary Ann Tighe
CBRE
29 deals$1.1B volume(212) 984-8128
BROKER

Brookfield Properties
BROKERAGE

Details

SOLD
IMAGE: David Giancola, David Carlos, Geoff Goldstein, Joe Messina, Steven Klein, Doug Middleton, Mary Ann Tighe & Lauren Crowley DATE: 10/1/2025 ADDRESS: 1334 York Avenue MARKET: Lenox Hill ASSET TYPE: Office BUYER: Weill Cornell Medicine SELLER: Sotheby's (@Sothebys) BROKERS: David Giancola, Geoff Goldstein, Steven Klein, David Carlos & Joe Messina - JLL (@JLL); Doug Middleton, Mary Ann Tighe (@MaryAnntighe) & Lauren Crowley - CBRE (@CBRE) SALE PRICE: $510,000,000 SF: 498,100

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

$27,199,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$1,811,922.28
Cash-on-Cash Return-1.27%
Monthly Debt Service$2,417,660.19
Annual Debt Service$29,011,922.28