By Bill Parry
A new medical facility is being planned for Long Island City. Norvin Healthcare Properties announced a project with NYU Langone Medical Center that will transform a 45,000-square-foot industrial building into a multi-specialty ambulatory care facility.
An affiliate of Manhattan-based Norvin Healthcare Properties acquired the two-story building, located at 21-21 44th Drive, in a transaction valued at $66 million. Norvin simultaneously entered into a 31-year lease with NYU Langone Medical Center to run the facility.
At present, NYU Langone owns and leases more than 6 million square feet throughout the metropolitan area, with 2.4 million square feet of that on the main campus alone.
It is not known when construction will begin.
“It will be a fairly comprehensive facility that should be complete in 12 to 18 months,” Norvin Healthcare Properties President Norman Livingston said. “Consumer demand for convenient, high-quality, cost-effective health care has created an urgent need for providers to bring full-service, multi-specialty outpatient centers to their community. This new NYU Langone facility in Long Island City will satisfy that need in terms of both location and the comprehensive range of health care services that will be offered under one roof.”
The property’s location is within a two-block radius of four different subway lines, but the neighborhood’s unprecedented population growth is the primary draw for the two companies. Over 8,600 residential units have been completed in LIC since 2006, and more than 22,500 units are in the planning or construction phase, according to the Long Island City Partnership. Over 2 million square feet of Class A office space has been developed in LIC since 2003 and 24 hotels have opened in the area since 2008, with another 26 currently in the planning or construction phase.
The property’s location is within a two-block radius of four different subway lines.
Reach reporter Bill Parry by e-mail at bparr
