Lease Beat

Dr. Nileh Patel Joins 20 East 46th Street

Courtesy of Emporis

Courtesy of Emporis

Dr. Nilesh Patel has signed for a new office at 20 East 46th Street.

The ear, nose, and throat medical specialist will be taking a 2,514-square-foot office on the eighth floor of Extell Development‘s 20 East 46th Street in Midtown. The lease, signed for 10 years, will consolidate his practices in Queens and Manhattan into one office.

“This was a nice unit,” said Lou Posner, a broker from NYCRS speaking on behalf of Betty Posner. “It faced the street and it was a bright unit with fourteen windows.”

“As a medical doctor, he needed a substantial build-out and the landlords were very accommodating,” he added. “They had to add in sinks to some rooms, so there was additional plumbing and sink work needed. He also added supplemental air conditioning as well.”

Betty Posner represented the tenant on the transaction and Corcoran Wexler Healthcare represented the landlord, Extell Development. The firm did not return for comment on the deal.

“The area was originally the Diamond District,” Mr. Posner added. “It formerly had a lot of diamonds and jewelry-related businesses, but the trend has been to rent the new offices to medical professionals. Doctors can afford nice offices.”

20 East 46th Street’s tenant base is a majority medical firms, including Meridian Dental Group, New York Cosmetic Dentist, and Beth Israel Medical Center OB/GYN Residency Program.

In addition to his practice, Nilesh Patel is affiliated with the New York Eye and Ear Infirmary, the NYU Hospital for Joint Diseases Orthopedic Institute, and the New York University Elaine A. and Kenneth G. Langone Medical Center.

Follow Michael Ewing via RSS.