CLIENT NEWS: Mount Sinai drops $32M for “small hospital” dev site in Westchester
September 12, 2023Mount Sinai Medical Center bought a development site in Westchester for $32 million.
The Miami Beach-based health care provider purchased 5.6 acres at 8250 and 8200 Southwest Eighth Street in unincorporated west Miami-Dade County from an entity led by Jorge Cruz, according to records and real estate database Vizzda.
The purchase comes two months after an attorney submitted a letter to the county on behalf of an unidentified entity, seeking clarification whether a “small hospital” with fewer than 100 beds is allowed on the property by right, Vizzda-provided records show.
Mount Sinai didn’t provide details of its project, only saying in a statement from its CEO, Gino Santorio, that it’s part of an ongoing growth plan. “The recent land purchase in Westchester is part of a larger strategy intended to expand access to our brand,” he said in part.
The property consists of two commercial buildings, completed in 1959 and 1974, used by CarLux Miami auto dealership, according to records.
Mount Sinai has 12 outposts across Miami-Dade and Monroe counties, including in Aventura, Coral Gables and Key West, its website shows. This year, the hospital opened the 12,000-square-foot Mount Sinai Eldercare center at its Hialeah hospital at 6050 West 20th Avenue and a pair of physicians offices in Monroe County.
The Irma and Norman Braman Comprehensive Cancer Center is expected to open in 2025 at the main campus at 4300 Alton Road in Miami Beach.
South Florida hospitals have been active real estate buyers in recent years. In April, Memorial Healthcare System paid $49 million for an 8.2-acre development site on the southeast corner of Hollywood Boulevard and State Road 7 in Hollywood. The hospital’s preliminary plan is to develop a health and wellness center.
Last year, Baptist Health South Florida sold a data center at 2100 Northwest 84th Avenue in Doral for $34 million to American Tower, a global communications infrastructure real estate investment trust.
