Developer David Marx has sold a medical office building at 902 Quentin Road in Brooklyn for $53.7 million.
The eight-story class A building whose tenants include including NYU Langone and Touro College School of Health was acquired by an affiliate of Seavest Healthcare Properties, a White Plains-based institutional manager of medical property investments.
CIT Group’s Healthcare Finance business arranged $33.2 million loan to finance the acquisition.
“We are pleased to add this class A medical office facility to our portfolio of high-quality properties,” said John Winer, Senior Managing Director & Chief Investment Officer of Seavest Healthcare Properties.
“The Midwood section of Brooklyn where the building is located is a vibrant community with a dense and well insured population. We have worked with CIT to finance a number of medical office buildings and again appreciated their responsiveness and market knowledge in completing this transaction.”
Built in 2013, the property features eight stories of medical office and academic space and an on-site parking garage.