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Weill Cornell Expands, Renews in 300K-SF Midtown Lease
In one of New York City’s largest leases year-to-date, George Comfort & Sons, on behalf of the ownership of 575 Lexington Ave., finalized a 300,000-square-foot lease with Weill Cornell Medicine in Manhattan’s Plaza District. As part of a 30-year agreement, Weill Cornell Medicine will expand its footprint by 100,000 square feet and will now occupy eight full floors as well as a dedicated portion of 575 Lexington’s ground floor for a separate lobby.
“We are thrilled to extend our long-term relationship with Weill Cornell Medicine, a bedrock New York City institution dedicated to improving patient outcomes and preparing the next generation of leaders in health care,” said George Comfort & Sons president and CEO Peter S. Duncan. “Weill Cornell Medicine remains our largest tenant in the tower.”
Weill Cornell Medicine was represented by Newmark’s David Falk, Andrew Sachs and Ben Shapiro. Ownership was represented in-house by Duncan and George Comfort & Sons’ Dana Pike.
Ownership worked with its lenders, Aareal Capital, funds managed by Oaktree Capital Management, L.P. and Paramount Group to bring the transaction to fruition.
- ◦Lease
