Newmark Arranges $89 Million Sale of EmblemHealth Hub Medical Office Building in Brooklyn to Vital Infrastructure Property Trust
BROOKLYN, N.Y. — July 29, 2026 — Newmark has arranged the $89 million sale of the EmblemHealth Hub Medical Office Building, a 140,000-square-foot, purpose-built medical office property located at 101 Pennsylvania Avenue in Brooklyn, New York. Vital Infrastructure Property Trust, a global healthcare infrastructure REIT, acquired the asset from Dominion Management Company.
Deal Details: Brooklyn Medical Office Commands $636 Per Square Foot
The transaction values the property at approximately $636 per square foot, reflecting strong pricing for newly developed, fully leased medical office assets in supply-constrained urban markets. The building is fully leased on a long-term basis to EmblemHealth, described as New York's largest independent physician group, and was designed to support modern outpatient healthcare delivery.
Newmark's team representing the seller, Dominion Management Company, included Co-Heads of U.S. Medical Office Capital Markets Ben Appel, Adam Spies, Jay Miele, and Justin Shepherd, alongside Head of Healthcare Debt John Nero, Executive Vice Chairman Adam Doneger, Vice Chairman Matt Berres, Senior Managing Director Michael Greeley, and Associate Directors Ron Ott, Conor Hilton, and Drew Martin.
A Trophy Asset in a Supply-Constrained Market
The EmblemHealth Hub is among Brooklyn's newest purpose-built medical office developments. Its single-tenant, long-term lease structure and location within one of the nation's largest metropolitan markets positioned it as an institutional-quality asset at a time when new medical office construction in New York remains limited.
"Institutional investors globally continue to prioritize high-quality medical office assets backed by strong healthcare operators, drawing investor interest from the U.S., Canada, Middle East, UK, and Asia," said Appel. "Opportunities to acquire new construction medical assets in New York are limited, which drives strong activity and pricing for high quality MOBs," said Spies.
Healthcare Real Estate Draws Global Institutional Capital
The transaction reflects continued investor demand for healthcare real estate tied to durable, mission-critical occupancy. Medical office has drawn comparatively strong capital flows as investors focus on property types with less exposure to discretionary demand. Fully leased, newly developed assets with healthcare-credit tenants and long-term leases have attracted particular attention from institutional buyers across multiple geographies.
For Vital Infrastructure Property Trust, the acquisition adds a stabilized, single-tenant healthcare asset in a major urban market to its portfolio. For seller Dominion Management Company, the transaction monetizes a newly developed property at a point when institutional appetite for high-quality medical office remains active.
About the Firms
Newmark Group, Inc. (Nasdaq: NMRK) is a commercial real estate services firm operating from more than 185 offices with over 9,600 professionals across four continents. For the twelve months ended March 31, 2026, Newmark generated revenues of more than $3.4 billion. Vital Infrastructure Property Trust is a global healthcare infrastructure REIT. Dominion Management Company was the seller of the Brooklyn asset.
Sources: Newmark Press Release, July 29, 2026