Compass Vice Chairman Adelaide Polsinelli has closed on the sale of a package of medical office condos at the Corinthian (345 East 37th St.) in the heart of Manhattan’s Medical Mile, for $8.25 million.
The three-story, 32-unit office condominium building is located at the base of the 57-story Corinthian luxury residential tower in Midtown East. The building was designed by Der Scutt, design architect, and John Schimenti and developed by Bernard Spitzer.
The property is strategically located on East 37th Street between First and Second Avenues, adjacent to NYU Langone Medical Center in a neighborhood best known for its concentration of the city’s premiere medical and life science industry.
“This sale is the boost that Medical Mile needed to remind medical investors that this is a ‘once-in-a-cycle’ opportunity to own one of the most insulated asset classes in New York City,” Polsinelli said. “While the real estate industry was hard hit by the pandemic, this sale highlights the unique advantage presented by buying a bulk package of medical office condos that was fully occupied throughout the pandemic.”
This sale represents not only the 15th condominium sale at the property, but also one of the largest packages of medical office condos sold this year, Polsinelli said. The sellers were Kevin Chisholm and Bastien Broda, managing partners of 60 Guilders LLC, along with associate, Trystan Polsinelli. The purchasers were Miami, Florida-based investors.
