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Avison Young Arranges Deal for Weill Cornell Development

Weill Cornell Medical College has purchased a development site with a zoning floor area of 112,420 square feet at 1393 York Ave. for $68 million. This enabled the seller, the Church of the Epiphany, to simultaneously purchase a 24,409-square-foot property a block away at 351 E. 74th St. for $22.5 million from Jan Hus Presbyterian Church.

Weill Cornell plans to build housing for medical students at the York Avenue site. As part of the deal, the Church of the Epiphany will remain at 1393 York for two years as a tenant while renovating its new home at 351 E. 74th, and Weill Cornell gains approval for its development.

Avison Young’s James Nelson, Jon Epstein, Charles Kingsley, Neil Helman and Toku Saito handled the two sales. The firm’s Susan Kahaner and Jennifer Ogden are representing Jan Hus in its search for a replacement property. Savills Studley’s Ira Schuman advised Weill Cornell.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Development
  • ◦Sale/Acquisition
  • ◦Sale/Acquisition