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Simone Development Companies Signs Lease With Phelps Hospital

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1034 North Broadway | Photo courtesy of Simone Development, Thompson & Bender

Phelps Hospital – Northwell Health will expand down-county via a property from one of the biggest new developers in Westchester.

Simone Development Companies has announced a new lease between the development company and Phelps Hospital – Northwell Health.

The hospital has signed a 4,658-square-foot office lease at Simone’s 1034 North Broadway property in Yonkers. This officially gives the property 100-percent occupancy, making it fully leased. Ownership was represented by Jillian Reiner of RM Friedland while the tenant was represented by Robert Lella and Darren Leiderman from Colliers International.

Simone Development Companies is a multifaceted real estate investment company that specializes in the acquisition and development of healthcare, office, retail, industrial, and residential properties in the New York tri-state area. While the company is headquartered in the Bronx, Simone’s influence continues to stretch all the way up to Westchester. The privately-held company owns and manages more than 7 million square feet of property in the Bronx, Westchester County, Queens, Long Island, New Jersey, and Connecticut. The company’s portfolio includes more than 100 properties and ranges from multi-building office parks to retail and industrial space, including the expansive Boyce Thompson Center, also in Yonkers.

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1034 North Broadway | Photo courtesy of Simone Development, Thompson & Bender

The mixed-use retail and office property at 1034 North Broadway was originally acquired by Simone Development in 2014 and will undergo exterior renovations in 2022. Interior lobbies, common areas, and restrooms were already upgraded in 2020.

In addition to the Phelps Hospital – Northwell Health lease, Trust Specialty Pharmacy has announced the upcoming opening of a 3,854-square-foot, state-of-the-art facility at the property, scheduled for January 2022.

Phelps Hospital – Northwell Health joins a menagerie of medical tenants in the building, including Upright Imaging of Westchester, Eden Dental, Executive Park Orthopedic & Sports Physical Therapy, Trust Specialty Pharmacy, Diabetes & Thyroid PLLC, and Family Medicine of Westchester.

“We are thrilled to welcome quality tenants like Phelps Hospital – Northwell Health and Trust Specialty Pharmacy to 1034 North Broadway, a prime office and medical building in an ideal location, minutes away from Saw Mill Parkway and I-87 as well as the Greystone Metro-North Station,” says Joanna Simone, Vice President of Leasing and Property Management Operations at Simone Development. “On top of the property’s convenient location, the upcoming exterior renovations will continue to position the building as a premier medical property in Yonkers.”


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