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Hospital Renews, Expands LI Office

LAKE SUCCESS, NY-St. Mary's Healthcare System for Children signs on for 15 more years, expanding to 26,000 square feet.

By Paul Bubny | Updated on January 16, 2009

LAKE SUCCESS, NY-St. Mary’s Healthcare System for Children has signed a 15-year lease for 25,580 square feet at 5 Dakota Dr. here. The renewal and expansion brings the executive and administrative offices of the 139-year-old children’s hospital under one roof.

Robert Kuppersmith, director with Cushman & Wakefield’s Long Island office, tells GlobeSt.com that asking rents at 5 Dakota are $33 per square foot. Kuppersmith represented St. Mary’s along with C&W executive director David Leviton and associate Marisa Karmitz. Property owner We’re Associates Co. was represented internally by Andrew Newman. The property–5 Dakota–is part of the 10-building Lake Success Quadrangle campus.

Kuppersmith tells GlobeSt.com that 5 Dakota’s central location to the flagship St. Mary’s hospital in Bayside, Queens was a deciding factor for renewing in place, although other Nassau County locations were considered. Additionally, the property recently underwent an upgrade, with updated corridors and lobbies.

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