New York City-based NYU Langone has paid $33 million for a property in West Palm Beach, Fla., where it plans to build a medical office building, according to a Feb. 10 report from the Palm Beach Post.
NYU is currently leasing medical office space in the area, according to the report. The system first began treating patients in Florida seven years ago but has started planning an expansion as its number of patients has grown.
In recent years, other major systems, including Cleveland Clinic, the Hospital for Special Surgery and Tampa General Hospital, have established sites of care in West Palm Beach.
The property was purchased from Florida real estate company MCM 324 Datura, which first bought the property for $10.6 million in 2021.
NYU plans to tear down the current low-rise building and replace it with a seven-story medical tower totaling 181,000 square feet, with 76,000 square feet dedicated to medical offices. The plans have been approved by one city committee, with another expected to review them Feb. 14, the report said.