NYU Langone Medical

Purchase Price$10,000,000
Annual Rental Income$638,880
Cap Rate6.39%
Lease Term17 Years
CityNew York City
Tenant: NYU Langone
Sector: Medical Office
State: New York

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Offering Summary
Exceptional opportunity to acquire a fully stabilized, long-term NNN medical office condominium leased to NYU Langone Hospitals (A+ credit) — one of the nation’s premier healthcare systems. The property comprises ±13,585 SF across multiple contiguous condo units within the renowned Rutherford Place in Manhattan’s Gramercy neighborhood.

Investment Highlights

  • Tenant: NYU Langone Hospitals (A+ Credit | Institutional Medical Operator)
  • Premises: Units C20, C21–C31, C34–C35 | ±13,585 SF
  • Lease Type: Triple Net (NNN) — Tenant responsible for all taxes, insurance, maintenance, utilities, and condo fees
  • Lease Term: Through February 28, 2042, with two (2) 5-year extensions to 2052
  • Escalations: Steady annual rent growth to $858,000 by 2041
  • Recent Renewal (2025): Reflects tenant’s long-term commitment
  • Use: Fully approved Article 28 Hospital/Medical Clinic
  • Tenant Investment: $2.5M+ in specialized medical buildout
  • Cap Rate: 6.39% on Year-1 stabilized income – above typical NYC medical yields

Investment Overview
This is a passive, institutional-grade medical investment in one of New York City’s most supply-constrained submarkets. The Triple Net structure and condo ownership eliminate landlord maintenance responsibilities, offering stable, predictable cash flow. NYU Langone’s significant capital investment and recent extension underscore its long-term occupancy intent.

For priority assistance, reach out to us at (307) 323-2281. Our team will connect with you promptly to help guide your next net-lease investment.