Northwell Health Closes Acquisition of Rego Park Property

Paul, Weiss advised Northwell Health on its purchase of approximately six acres in Rego Park, Queens, from an affiliate of Vornado Realty Trust. Northwell acquired the former mall site near the Long Island Expressway, which was constructed for Alexander’s in 1959 and had Marshalls and Burlington Coat Factory as its most recent tenants, for a price of $235.5 million. Northwell, the largest health system and private employer in New York State, is considering various redevelopment options for the property.

The Paul, Weiss team included real estate partner Peter Fisch and counsel Barry Langman.