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Slate, Evanhar Team on New MOB for Mt. Sinai Health System
Slate Property Group and Evenhar Development Corp. on Monday announced a partnership to develop a ground-up medical office and community facility building at 1578 Lexington Ave. in Manhattan’s Carnegie Hill / East Harlem neighborhoods. The 13-story, purpose-built, community-centric facility will include Mount Sinai Health System programs.
Mount Sinai’s footprint will include 150,000 square feet encompassing medical office space for outpatient clinical services and an employee daycare center. The remainder of the building will include the new East Harlem Center, an 18,978-square-foot community hub owned and operated by Children’s Aid. and a new facility for Life Changers Church.
“We’re creating a true community hub that addresses multiple neighborhood needs,” said Martin Nussbaum, co-founder and principal of Slate Property Group.
The development will be financed by a $119-million construction loan from J.P. Morgan and a $40-million preferred equity investment by GoldenTree Asset Management. Construction will commence this month. with occupancy slated for spring 2028.
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