Sloan-Kettering Buys Hertz Building For $19.05 Million, Eyes Clinical Use

Memorial Sloan-Kettering Cancer Center has purchased a property at 327 East 64th Street in Manhattan from the car rental company Hertz Corporation for $19.05 million, according to city records.

The hospital, however, does not have definitive plans for the use of the building, but it will be used for some type of clinical service, Christine Hickey, spokeswoman for Sloan-Kettering told the International Business Times in an email. There is no schedule for when plans would be made, she added.

According to PropertyShark, a two-story, 24,229 square foot garage, built in 1930, is currently on the 12,552 square foot lot, but the parcel has development rights of up to 50,208 square feet and four stories.

Sloan-Kettering recently won approval to build a $142 million outpatient cancer center in Westchester County, north of the Bronx, despite opposition from local hospitals. The State approved the 100,000 square foot center on the basis of an expected increase of population and cancer cases in an aging population.

Helen Hwang and Nat Rockett were part of the investment sales team from Cushman & Wakefield that marketed 327 East 64th Street, as well as another Hertz parcel at 412 East 90th Street, which sold to the Spence School for $26.1 million.

According to the Observer, the Spence School plans to build a gym on that site, but its expansion plans have irked some neighbors. The site at 412 East 90th Street is also a two-story garage of 29,500 square feet, and maximum zoning would allow 75,025 square feet and up to five stories.

Write to Roland Li at r.li@ibtimes.com.