New York University buys West Palm Beach office for $33M
Posted by SVN Waterfront on
New York University's health system paid $33 million for a West Palm Beach office building with a pending redevelopment plan.
MCM 324 Datura LLC, managed by Mukang Cho of Boca Raton-based Morning Calm Management, sold the 68,811-square-foot office at 324 Datura St. to the nonprofit university, on behalf of NYU Langone Health. Property data firm Vizzda confirmed the buyer and seller information.
It last traded for $10.65 million in 2021, so it more than tripled in value. That’s probably a reflection of the development plans for the 0.65-acre site, not the value of the 74-year-old building that currently sits there.
In late 2023, Morning Calm Management filed plans to redevelop the site, demolishing the old office building in favor of a…
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