Yale New Haven Hospital has purchased a downtown building, which it had leased as scientific research space, for more than $101 million.
Fusco Park LLC, an affiliate of New Haven-based Fusco Management and principal Lynn R. Fusco, sold the building at 55 Park St., to Yale New Haven Hospital Inc. for $101.5 million, in a deal recorded May 24.
Yale was offered the right of first refusal on the deal when the building was listed for sale, and opted to make the purchase.
“The 55 Park Street building has been used by YNHHS since its opening in 2009, utilizing nearly five floors for dedicated clinical laboratories, clinical pharmacy, auditorium for lectures, as well as providing an essential patient and visitor pathway from Air Rights Garage to Smilow Cancer Hospital,” said Yale media coordinator Mark D’Antonio.
The 155,000-square-foot, six-story medical lab and office building sits on 1.25 acres at the intersection of Park Street and Frontage Road, and it was built in 2009. The property has a total appraised value of $83.7 million.
