HOSPITAL CAMPUS REDEVELOPMENT PLAN
Maimonides Medical Center
Brooklyn, NY
MARKET SIGNIFICANCE:
Located in Boro Park, Brooklyn, the hospital sought a new center of excellence and medical office building in excess of 150,000 sf.
BENCHMARKS:
KG engaged as development advisor and planner for this undertaking and began this effort with a comprehensive development plan addressing eight city blocks. Program includes medical offices, staff housing, wellness, structured parking, and open space, as well as the expansion of the mainframe hospital
Ultimately, KG succeeded in delivering full financing for this undertaking from a national medical REIT through Dr Kimmerle's direct financial contacts. A 20 year ICAP tax abatement was also obtained for this privately held building through KGs leadership. The budget was $150.0 mil for a 235,000 sf first phase roll out completed in 2022.
