The University Financing Foundation (TUFF) has successfully closed a $232.2 million acquisition in the Upper East Side of Manhattan. TUFF and Northwell Health, New York’s largest health care provider and private employer, are expected to develop a new medical center providing outpatient care, ambulatory surgery, outpatient cancer center and medical offices on the site. “We are deeply invested in the Upper East Side and look forward to the potential to provide additional services in the neighborhood and surrounding communities,” Michael Dowling, the president and CEO of Northwell, said in a statement.
In alignment with its mission, TUFF has created an opportunity for the health system to expand and diversify its services and capabilities for education and research. Northwell Health partnered with Lenox Hill Hospital and Manhattan Eye, Ear, and Throat Hospital in 2010, and since then has helped tens of thousands of New Yorkers in the surrounding community. The property acquisition and transaction structuring with TUFF was arranged by Blue Sky Real Estate Services and Development. Learn more about this important transaction that will impact generations of future New Yorkers.