Mount Sinai Health System Acquires Vacant Medical Offices In Manhattan For $71.5M

The vacant medical offices located at 432 West 58th Street in Manhattan were sold in a closed transaction for a planned price of $71,500,000. The property spans a total of 82,456 square feet, resulting in a price per square foot of $867. The seller of the property was Rosemawr Management, who had purchased the building for $59,000,000 in December. This transaction allowed Rosemawr Management to make a profit of $12,500,000 in under 4 months.

Summary of transation details

• Property Type: Vacant Medical Offices
• Transaction Amount: $71,500,000
• Square Footage: 82,456
• Price per Square Foot: $867
• Address: 432 West 58th Street, New York
• Market: Manhattan

Mount Sinai Health System - Kenneth L. Davis acted as the buyer in this transaction. They acquired the vacant medical offices from Rosemawr Management. The successful sale allowed Rosemawr Management to profit from their investment in a relatively short period of time.