Hines, Welltower JV Opens NYC Senior Community

Sunrise at East 56th. Image courtesy of Hines A joint venture including Hines, Welltower and…

Sunrise at East 56th. Image courtesy of Hines

A joint venture including Hines, Welltower and Sunrise Senior Living has completed Sunrise at East 56th, a 151-unit luxury senior housing community in Midtown Manhattan, New York.

SLCE Architects headed the design of the 130,000-square-foot property inspired by the nearby Park Avenue apartment buildings, while Champalimaud Design provided interior design services. Located at 139 E. 56th St., the 17-story community features both assisted living and memory care units in studio and two-bedroom configurations. The property includes a 6,900-square-foot retail space on the ground floor.

The property marks a first within the industry, achieving LEED Silver, WELL Certification at the Silver level along with WELL Health-Safety Rating Seal certifications due to its energy and environmental design along with a focus on health and wellness.

In April of 2016, Hines and Welltower acquired the land for the property for $54 million and funded the acquisition with a $56.2 million loan originated by Wells Fargo Bank, public records show. In the same year the duo also secured Sunrise Senior Living to operate the asset.

Amenities at Sunrise at East 56th

The amenity-rich Sunrise at East 56th features multiple dining spots with a locally sourced menu, a beauty salon, various communal spaces throughout the building, an art studio, a theater, a fitness center equipped with physical therapy and massage areas along with various landscaped courtyards and gardens outfitted with seating areas.

The senior housing community also provides a variety of services such as on-site health, concierge and housekeeping as well as activities developed in partnership with the Museum of Modern Art, the Metropolitan Museum of Art, Carnegie Hall and the New York Historical Society among others.

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Sunrise at East 56th is within walking distance of several shopping, dining and entertainment options. The community is roughly a mile from St. Patrick’s Cathedral, Central Park Zoo, Radio City Music Hall and New York-Presbyterian Hospital/Weill Cornell Medical Center. Recently, a partnership between Taconic Partners and National Real Estate Advisors secured a more than $200 million construction loan for a 330-unit luxury apartment project some 2 miles away.