The 30-year deal covers part of the second floor, the entire third, fifth and sixth floors, part of the seventh floor, and part of the ground and concourse levels. The new location, which features a turnkey installation, will serve as a centralized headquarters. The large floorplates allow for better densification, enabling VNSNY to occupy less space and run its operations more efficiently, SL Green officials state.

Cushman & Wakefield's Tara Stacom and David E. Green, along with Louis Wolfowitz and Mark Todrys from the firm's corporate finance & investment banking group represented VNSNY in the transaction.

New York

NEW YORK CITY—The Visiting Nurse Service of New York is relocating its headquarters operations from 1250 Broadway to more than 308,000 square feet of condominium space at 220 E. 42nd St., also known as the “News Building.”

Property owner SL Green Realty Corp. reports it has reached an agreement to convey a 30-year leasehold condominium interest totaling 308,115-square-feet at 220 E. 42nd St. to Visiting Nurse Service of New York. The country's largest not-for-profit home-and community-based health care organization has occupied 320,000 square feet at 1250 Broadway since 1994. SL Green Realty sold 1250 Broadway to Murray Hill Properties and Jamestown for $310 million in 2008.

“This was a complicated transaction requiring the consolidation of numerous spaces, the creation of a private tenant lobby and significant upgrade to certain building infrastructure to support the tenant's high density occupancy,” says Steven Durels, EVP, director of leasing and real property for SL Green. “This transaction together with the previously announced renewal of 231,114 square feet with Omnicom substantially mitigates the upcoming Omnicom lease expiration covering 493,560 square feet. ”

“This move is part of a bold new vision for the future of VNSNY assuring our ability to continue providing the best and most compassionate home and community based health care for vulnerable New Yorkers,” says Guy Sansone, CEO of VNSNY. “The move is particularly timely as we will be celebrating our 125th Anniversary in 2018, and this new centralized space will help us respond to the demands of a rapidly changing healthcare system, positioning us to continue our mission for another 125 years.”

The 30-year deal covers part of the second floor, the entire third, fifth and sixth floors, part of the seventh floor, and part of the ground and concourse levels. The new location, which features a turnkey installation, will serve as a centralized headquarters. The large floorplates allow for better densification, enabling VNSNY to occupy less space and run its operations more efficiently, SL Green officials state.

Cushman & Wakefield's Tara Stacom and David E. Green, along with Louis Wolfowitz and Mark Todrys from the firm's corporate finance & investment banking group represented VNSNY in the transaction.