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Compass’ Polsinelli Closes Second Phase of Medical Office Condo Sale
Adelaide Polsinelli, vice chairman of Compass, closed on the second phase of the sale of a package of seven medical office condominiums at the Corinthian, located at 345 E. 37th St. in Midtown Manhattan’s Medical Mile. The sale closed at $12 million.
“This sale highlights the resiliency of New York City, in particular, the medical office condo sector, which retained its value throughout the darkest of times,” said Polsinelli.
345 E. 37th represents the largest package of medical condos sold in the past several years. Even as values have steadily increased, this deal was highly sought after due to its attractive location, flexible variety of unit sizes and solid tenant roster.
The “Corinthian Office Condominiums” is a three-story, premiere, 32-unit office condo at the base of the 57-story Corinthian luxury residential tower in Midtown East. The Corinthian was designed by Der Scutt and John Schimenti, and developed by Bernard Spitzer.
- ◦Sale/Acquisition
