Docs Without Borders Buys Downtown Office Condo

Doctors without Borders has purchased two full floors, spanning 60,000 square feet, at 40 Rector St.

NEW YORK CITY—Doctors without Borders/Médecins Sans Frontières has purchased two full floors, spanning 60,000 square feet, at 40 Rector St. The 16th and 17th floors at the Lower Manhattan building were sold to the healthcare organization for just over $41 million.

MSF will relocate from 333 Seventh Ave. by the third quarter of 2017. The firm was represented by Newmark Grubb Knight Frank executive managing director Arthur Draznin and associate Hunter Berman and an undisclosed seller was represented by senior managing director Eric Cagner and managing directors Greg Wang and Todd Stracci.

“The purchase was made after a year-long search which examined over 125 potential spaces,” says Draznin. “The opportunity to purchase the space proved to be the most cost effective solution for the not for profit as opposed to leasing long-term. An ideal location for MSF, 40 Rector St. will be the perfect long-term home due to the high quality of the building, flexible floorplates and an efficient workplace design allowing MSF to grow within its space.