Property
71 Reade Street & 87 Chambers Street
Location
New York, NY
Size
5,166 SF
Value
$7.5M
Type
Debt

71 Reade Street & 87 Chambers Street

BlueGate Partners has been retained to raise a permanent loan for a 5,166 square foot retail building located at 71 Reade Street and 87 Chambers Street in New York City (the “Property”). The Property has a combined 82 feet of frontage along Reade and Chambers Streets. City MD has signed a 15 year lease at the Property to occupy 4,382 square feet. City MD is an urgent care provider offering fast, comprehensive, and professional health care with over 40 locations throughout Manhattan, Brooklyn, Queens, Long Island, Westchester and Rockland County. There are currently 11 locations in Manhattan with four more planned. City MD is a well-established organization with highly trained physicians and staff members that provide convenience, quality of service and superior medical care. The company is very well capitalized. Financial statements are available upon execution of a confidentiality agreement. Management is in negotiations with a speculative tenant for the remaining 784 square feet at the property.