News: Brokerage

Simone Development Companies leases 10,189 s/f medical space to New York-Presbyterian

Bronx, NY According to Simone Development Companies, New York-Presbyterian has signed a 10,189 s/f long-term lease at Simone Dev.’s medical office property at 2510 Westchester Ave.

Simone Dev. was represented by in-house leasing and legal teams in direct negotiations with the tenant.

“We are pleased to welcome NewYork-Presbyterian to one of the East Bronx’s top medical office properties,” said Joe Simone, president of Simone Development Companies. “NewYork-Presbyterian’s presence at 2510 Westchester Ave. complements the outstanding medical tenant roster at this facility.”

“NewYork-Presbyterian is dedicated to providing the highest quality care to patients and the communities we serve, and we look forward to expanding our care in the Bronx community,” said Joe Ienuso, group senior vice president, Facilities and Real Estate of NewYork-Presbyterian. “At this new location, patients can access exceptional obstetrics and gynecology care, as well as primary care services.”

Existing tenants at the three-story, 60,000 s/f property located near Westchester Sq. #6 subway station include multiple specialties like orthopedics and sports medicine, physical therapy and chiropractic, behavioral health, acupuncture, and more.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
Navigating the changing landscape of hotel Property Improvement Plans and conversion brands - by Andrew Cameron

Navigating the changing landscape of hotel Property Improvement Plans and conversion brands - by Andrew Cameron

When owners are due for a significant Property Improvement Plan (PIP), they must carefully evaluate what the best course of action is. Over the past five years, major hotel brands have become significantly more flexible with their PIP schedules.
Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi

Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi

Many long-time property owners are divesting from their rent stabilized properties at an increasingly rapid pace. This trend has gained momentum primarily due to the unyielding permanence of rent laws over the past six years and the increasing operating costs that continue to outstrip rent growth. In addition, the judiciary’s elongated timeline in processing evictions and tenant rent challenges,
Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,