Northwell Health to Develop Health Center on Manhattan’s Upper East Side

Paul, Weiss represented Northwell Health in a transaction involving the purchase of a block of mixed-use properties on Manhattan’s Upper East Side. The property, which was sold by an affiliate of Glick Property Group to 3rd Avenue Blockfront LLC, a subsidiary of The University Financing Foundation, Inc., includes the entire blockfront on the east side of Third Avenue from East 76th Street to East 77th Street, together with additional development rights. Following the closing, Northwell Health and 3rd Avenue Blockfront LLC anticipate developing the site for new facilities for Northwell’s Lenox Hill Hospital, including an outpatient care center, ambulatory surgery center, cancer center and medical offices on the site. Northwell Health is New York state’s largest health care provider and private employer.

The Paul, Weiss team included real estate partners Meredith Kane and Peter Fisch and counsel Barry Langman.