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NEW YORK CITY — Simone Healthcare Development Group has purchased the Park Avenue Medical Arts Center, a medical condo space at 62 East 88th St. in New York City, for $11.5 million. Located between Park and Madison avenues, the 15-story building was constructed in 1986 and contains 18 residential units in addition to the medical condominium space. The 19,000-square-foot medical property includes a separate private entrance from the residences and a private elevator. Corcoran Wexler Healthcare Properties and CBRE represented the seller, S&H 88th Street Associates, while Wexler represented the buyer in the deal.