$60 per SF for Downtown Manhattan Medical
Downtown Manhattan’s first medical office building is now 96% occupied. Two government tenants, the Office of Medical Services for the Port Authority of New York and New Jersey signed a lease for more than 8,000 square feet of space. Asking rent was in the low $60-per-square-foot range.
Owners William Macklowe Company and its joint venture partner, LaSalle Investment Management, bought the 1950s office building at 156 William Street in 2013, and repositioned it as a medical facility.
Weill Cornell Medical College occupies over 85,000 square feet. Riverside Research Institute also just renewed its 17,000-square-foot lease for the entire 9th floor.
- ◦Financing
- ◦Lease
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