Memorial Sloan-Kettering Cancer Center and City University of New York Hunter College have acquired 66,000 square feet of vacant land at 525 E. 73rd St. from the City of New York and its Economic Development Corporation for $215 million.

The Upper East Side property will become home to Sloan-Kettering’s new state-of-the-art 750,000-square-foot health care facility and Hunter’s new 336,000-square-foot Science and Health Professionals Building. The area proposed for development is between East 73rd and East 74th streets and east of York Avenue to the FDR Drive.