Northwell Health is snapping up a long-vacant shopping center in Rego Park for $235.5 million, a deal that could pave the way for a major healthcare conversion.
The hospital giant purchased the 338,000-square-foot Rego Park I retail complex from Alexander’s, the real estate investment trust controlled by Vornado Realty Trust chief executive officer Steven Roth, according to the Commercial Observer. The deal breaks down to $697 per square foot.
The sale is expected to close in the third quarter…