Holliday Fenoglio Fowler LP announced Thursday it has closed the $11.468 million sale of a 16,920-square-foot outpatient imaging facility that is triple net master leased to the New York University School of Medicine in the Long Island community of Garden City, N.Y.
The HFF team marketed the property on behalf of the seller, Meridian Imaging Group. Inland Real Estate Acquisitions LLC facilitated the purchase of the asset.
The HFF team included Senior Managing Directors Jose Cruz and Kevin O’Hearn, Senior Directors Ben Appel, Michael Oliver and Steve Simonelli and Senior Managing Director Andrew Scandalios.
The building was converted to a medical imaging facility in 2007 and received additional upgrades within the last year. It is used as a multi-modality medical imaging center by New York University School of Medicine, a part of the NYU Langone Medical Center: a six-hospital, 1,700-bed, university-affiliated, not-for-profit health system with a 64-percent market share in its patient service area.
Situated on 0.13 acres at 224 Seventh St., the medical office building is in the infill Downtown Garden City submarket steps from the main street in the area, and 1.5 miles from the 591-bed, university-affiliated NYU Winthrop Hospital Campus.
The property is also one-half mile from the Garden City Train Station, 1.2 miles north of Route 24 and 5.4 miles south of the Long Island Expressway (Interstate 495).