1660-1664 East 14th Street, Brooklyn, NY 11229
Rare Medical Outpatient
Opportunity in NYC
The Offering
Berkadia Medical & Life Sciences is pleased to exclusively offer the Midwood Medical Center Collection, a two-building, interconnected medical outpatient portfolio totaling 42,048 net rentable square feet in Brooklyn’s Midwood neighborhood. The Properties are strategically located less than one mile from Maimonides Midwood Community Hospital with excellent access to public transportation.
The Portfolio is 96.8% leased to a tenant roster fully dedicated to healthcare services. Medical specialties represented across the Properties include oncology & hematology, cardiology, OB/GYN, dermatology, audiology, pain management, ophthalmology, behavioral health, lab services, and imaging, including Open MRI, CT and X-ray suites. With nearly 60% of the square footage currently leased at below-market rents, limited new MOB supply in the submarket, and 3.1% average in-place annual escalations, the offering presents investors with stable cash flow today and meaningful upside through future mark-to-market rent growth in one of Brooklyn’s most supply-constrained medical outpatient markets.
Investment Highlights
01
Largest Healthcare Real Estate Market with Exceptional Neighborhood Demographics
02
96.8% Leased with Longstanding Tenancy
03
Institutional-Quality Tenancy with Diversified Specialty Mix
04
Mark-to-Market Upside with Limited MOB Availability
05
Transit-Oriented Brooklyn Location Near Major Hospitals
06
Recent Capital Investment Enhances Asset Quality
07
Fee simple and Free & Clear of Existing Debt
Location
Photo Gallery
Berkadia Medical & Life Sciences
INVESTMENT ADVISORS
Sabrina Solomiany
Senior Managing Director
404.536.5054
GA DRE #361808
[email protected]
Chris Lashmet
Managing Director
847.209.0425
IL DRE #475196617
[email protected]
Vasili Davos
Managing Director
214.360.3858
TX DRE #778826
[email protected]
Eric Lee
Managing Director
763.226.8563
IL DRE #475194860
[email protected]
Jordyn Kelly
Vice President
303.689.8340
CO DRE #100095458
[email protected]
Madison Strasmann
Associate Director
949.622.9240
CA DRE#02192574
[email protected]
George Desloge
Senior Financial Analyst
312.845.5163
[email protected]
MORTGAGE BANKING
Mike Rogers
Managing Director
312.914.8374
[email protected]
BROKER OF RECORD
Brian Antognini
Senior Transaction Manager
NY RE #10401335118
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
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