New York, NY Seavest Healthcare Properties, LLC, the White Plains and New York City based real estate investment management firm has acquired the fully leased 355 West 52nd St. medical office building.
The eight story, 57,000 s/f medical office building is anchored by NYU Langone Health where they offer a wide range of primary and specialist-based healthcare services. This acquisition continues the growth of Seavest’s core real estate investment strategy and the firm’s growing presence in the New York City metropolitan area.
“We are quite pleased to acquire such an important asset anchored by one of the dominant New York healthcare providers, NYU,” said David Braunstein, vice president of Investments at Seavest.
“This acquisition continues the growth in one leg of our investment strategy by growing our core real estate portfolio,” said John Winer, senior managing director & CIO of Seavest. “High quality well located medical real estate is rare in New York City. We are very pleased to add this property to our portfolio.”
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,