17 | SPECIAL REPORT FEBRUARY 1, 2016 | VOL. 52, No. 5
31 | FACES & PLACES westfaironline.com
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PRECIOUS MEDICAL MOUNT KISCO CAMPUS PRICE NEARLY DOUBLES IN HOT MARKET
BY JOHN GOLDEN jgolden@westfairinc.com
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BRIDGE TO THE FUTURE PAGE 3 Nyack Mayor Jennifer L. White.
he physicians who own Mount Kisco Medical Group’s main campus in Mount Kisco weren’t planning to sell their two-building property. That is, until they received an offer too good to refuse from a Midwest company looking to enter Westchester’s hot health care real estate market. Hammes Partners, a private equity firm in suburban Milwaukee that invests exclusively in health care real estate for institutional and high net worth investors, in December closed on its $43 million purchase of 90 and 110 S. Bedford Road from a physician-owned real estate company, Bedford RD
Properties LLC. The two medical office buildings total 120,000 square feet of space, said Scott Hayworth, president and CEO of Mount Kisco Medical Group PC, an approximately 500-doctor multispecialty group practice with headquarters on the Bedford Road campus. Hayworth and other physicians in the limited liability company in 2003 paid $22.5 million to acquire the property from a realty affiliate of Mount Sinai Medical Center in Manhattan. The accepted offer from Hammes Partners was 91 percent above the property’s sale price 12 years earlier. The $43 million deal amounts to about $358 per square foot. Hayworth said the steadily » MOUNT KISCO, page 6
Fair share GROUP SEEKS BENEFITS AGREEMENT WITH STARWOOD OVER PORT CHESTER PLAN BY EVAN FALLOR evan@westfairinc.com
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he $300 million mixed-use development proposed by Starwood Capital Group of Greenwich on the former site of United Hospital is expected
to give Port Chester’s economy a boost, and Joan GrangenoisThomas wants to make sure village residents get their share. Grangenois-Thomas is a member of Sustainable Port Chester Alliance, a coalition of residents and civic, community
and labor organizations created last fall in response to the plans submitted to the village board. The 20-member organization that includes leaders from Human Development Services of Westchester, Communication Workers of America Local
1103, Port Chester/Rye NAACP and Building and Construction Trades Council of Westchester and Putnam Counties, is seeking a community benefits agreement that would ensure the village gets a fair shot at project-related construction jobs, housing and
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funding for its schools. The alliance is seeking guarantees from Starwood that subcontractors would hire locally, that village schools not be shortchanged via tax abatements and traffic concerns be addressed. » PORT CHESTER, page 6
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