Hirschfeld Properties' 207 East 94th Street.
NEW YORK CITY- Mount Sinai Hospital is expanding its lease square footage at 207 East 94th St., a 50,000-square-foot building on the Upper East Side. Hirschfeld Properties owns the 50,000-square-foot building with asking rents of $55 per square foot. The lease which has expanded 12,000 square feet is for an additional 10 years.
The 100 percent occupied property leased the space for the medical school for primary use that includes pediatrics, cardiology, hematology and oncology divisions. The tenant wanted a location within a few blocks of the main hospital center that offered convenience to both the Lexington Avenue subway and the new Second Avenue subway, according to Elie Hirschfeld, president of Hirschfeld Properties.
"Several entities were seriously interested in the space, but Mt. Sinai occupies other space in several of our properties and is among our most prestigious tenants, so we decided to choose the school," he said. "It has the second floor of our building at 1490 Madison Avenue and is also adjacent to their Hess Center at the Icahn School at 1470 Madison Avenue."
Brokerage firms involved in the transaction include the Manhattes Group on behalf of the landlord and Cushman & Wakefield on behalf of the tenant .
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Mariah Brown
Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.
