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Newmark to Manage Leasing at Extell’s Upper East Side MOB
Newmark has been named the exclusive leasing agent for Extell Development Company’s ground-up medical office property at 1520 First Ave. The 435,000-square-foot, 30-story, mixed-use tower will be the first privately built medical office building developed on the Upper East Side. Executive managing directors Justin DiMare and Jonathan Fanuzzi have the leasing assignment.
“The current medical office inventory in the city is not equipped to meet the modern needs of today’s healthcare industry,” said Extell founder and chairman Gary Barnett. “Medical institutions are growing at a rapid pace and are creating an immediate need for more space. We saw this as an opportunity to bring the superior level of quality and craftsmanship found at all Extell properties to this new state-of-the-art medical facility.”
In the fall of 2021, Extell announced that the Hospital for Special Surgery, the world’s leading academic medical center focused on musculoskeletal health, would serve as 1520 First Ave.’s anchor tenant. The project is slated for completion in the second quarter of 2025.
- ◦Lease
