Lease Beat

Memorial Sloan-Kettering Takes 100,000 Sq. Ft at 650 Madison

Memorial Sloan-Kettering Cancer Center, one of the world’s oldest cancer centers, has reportedly agreed to take 100,000 square feet at 650 Madison Avenue, making it one of the largest lease deals in 2012.

650 madison 08 0925 low 2 Memorial Sloan Kettering Takes 100,000 Sq. Ft at 650 Madison

650 Madison Avenue

The cancer specialists will be taking a concourse-level space, along with space on the third and fourth floors, in its 10-year lease at the building, Crain’s New York reported.

Memorial Sloan-Kettering will be moving into the space that is currently taken by ColumbiaDoctors, a faculty-run medical practice of the Columbia University College of Physicians and Surgeons. That firm signed a 25-year lease last year to take 120,000 square feet 1290 Sixth Avenue.

Memorial Sloan-Kettering will reportedly be using the space as part of its practice.

Newmark Knight Frank’s Mark Weiss represented Memorial Sloan-Kettering in the deal.

Jared Horowitz of Cushman & Wakefield represented the ownership group of AREA Property Partners, Ashkenazy Acquisition Corp., Carlyle Group, and China Investment Corp.

650 Madison Avenue boasts Polo Ralph Lauren Corp. as the largest tenant in the roughly 600,000 square foot midtown office building. The famed fashion designer has 283,000 square feet, Crain’s New York reports.

Once finalized, the deal will rank among the biggest leases of the year. Earlier this year, Investment Technology Group took 132,000 square feet at the Brookfield Properties-owned 1 Liberty Plaza. 

drosen@observer.com