Healthcare Trust of America pays $21M to EmblemHealth for property in Jamaica Estates

Healthcare Trust of America through the entity Hta-Jamaica Estates Mob, LLC paid EmblemHealth’s Health Insurance Plan of Greater New York’s Health Insurance Plan Of Greater New York $20.5 million for 180-05 Hillside Avenue in Jamaica Estates. The deal closed on December 31, 2019, and was recorded on January 15, 2020. The transaction consists of 1 parcel, including the tax class health center, child center, clinic (I5). The property is 36,708 square feet. The parcel(s) have total development potential of 133,056 square feet.
The average sale price per square foot is $154.

This is the third property sale closed in in December for EmblemHealth, and the second incolving a lease with its partner, AdvantageCare Physicians. The prior sale that twas followed by a lease with AdvantageCare was recorded on Wednesday.  The other sale was to Pi Capital Partners. 

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $100,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link