4 Columbus Circle/ Image: Google Maps
NEW YORK CITY— New Hope Fertility Center recently signed a deal for 15 years at 4 Columbus Circle. The medical practice renewed its original 37,670 square-foot lease at the property and also doubled its footprint, signing a new deal for 36,835 square feet for a total of 74,505 square feet. New Hope will now occupy the second through the fifth floors at the eight-story building.
They plan to move into their new space in the second quarter of 2019. While the clinic originally occupied the third and fourth floors subleased from Steelcase, their relationship with the building owner GLL Real Estate Partners, a member of the Macquarie Group, has deepened and expanded.
CBRE's Anthony Dattoma, Ken Meyerson and Zach Weil represented New Hope in the lease negotiations. David Hollander and Tim Freydberg, with CBRE, acted on behalf of the landlord, GLL.
“Dr. John Zhang, the founder, CEO and medical director of the practice, is a pioneer in fertility care and at the forefront of new medical breakthroughs within the field,” says Dattoma. “The clinic's expansion at 4 Columbus Circle will help to accommodate its growing base of patients in New York City.”
“GLL is delighted to now have restructured 4 Columbus Circle within a 12-month period, thanks to the renewal and expansion of New Hope and the renewal of Steelcase,” adds Hollander. In addition to Steelcase, Duane Reade is located in the ground-floor retail space.
GLL bought the 102,720 square-foot building that was constructed in 1985 from Cerberus Capital Management. The real estate firm acquired the building in July 2011 for $96.5 million according to Real Capital Analytics.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
