George Comfort & Sons, on behalf of 575 Lexington Avenue owners, has secured a 300,000-square-foot lease with Weill Cornell Medicine in Midtown East as part of a 30-year agreement.
Weill Cornell Medicine will extend its occupancy by 100,000 square feet, now claiming eight full floors and a portion of the ground floor for a separate lobby, dedicating the space to patient care. This lease marks one of the largest agreements in New York City this year.
“The new space at 575 Lexington will be a convenient destination for patients living and working in Midtown Manhattan to receive exemplary care from Weill Cornell Medicine physicians and care providers,” said Dr. Robert Min, president and chief executive officer of Weill Cornell Medicine’s Physician Organization.
Acquired in September 2015 by a joint venture of Cannon Hill Capital Partners and George Comfort & Sons, 575 Lexington Avenue is a 35-story, 745,000-square-foot office tower centrally located in Manhattan’s Plaza District. The tower is a six-minute walk from Grand Central Terminal and situated steps from entrances to the 6, E, and M subway lines.
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There is a general trend of moving ambulatory services out of hospital settings. Two of my physicians have been relocated from their hospital offices. This frees up space in the hospital and can attract patients from more outlying areas.