IRA Capital Buys Long Island MOB
- Jun 15, 2020
IRA Capital has purchased a three-story, 41,500-square-foot medical office building in Manhasset, N.Y. Knightsbridge Properties sold the Class B asset anchored by Mount Sinai Health System and NYU Langone Medical Center after 18 years of ownership, according to Yardi Matrix data.
Located at 1155 Northern Blvd. in Long Island, the medical office building came online in 1990 and underwent cosmetic renovation in 2003, Yardi Matrix shows. The facility houses a Mount Sinai multi-specialty clinic providing internal medicine, gastroenterology and cardiology services, while NYU Langone has a cardiac arrhythmia center at the building. Another tenant is Breitbart Plastic Surgery, with its on-site surgery center.
The property is less than a mile southwest of the city center, within Long Island’s Northern Boulevard healthcare corridor. Turow and Tierney Pediatrics, Northwell Health System and North Shore University Hospital are all less than a mile from the building.
The Manhasset property marks IRA Capital’s 11th healthcare acquisition in the past 60 days, with the company spending more than $230 million in total. One of these purchases is a 56,809-square-foot medical office building in Santa Ana, Calif., which closed for $38.4 million in May.