Lease Beat

ElderServe Grabs 10K in Brooklyn

Courtesy of Loopnet

Courtesy of Loopnet

ElderServe has inked a deal for an office in Brooklyn.

The long-term care program managed by New York State to help elderly individuals live independently in their homes has grabbed a 10,000-square-foot office at 1630 East 15th Street in Brooklyn.

Timothy King, a managing partner at CPEX Real Estate, noted that the new office on the second floor will be built to their specifications.

“ElderServe will bring an important component in home medical care services throughout the New York metropolitan area to the Kingswood Center,” said David Muessel of CPEX. “We are proud to have teamed ElderServe up with our building’s owner as they moved forward in growing their regional offices to a new level.”

The lease duration was set for 10 years. ElderServe will join a few other medical institutions such as the New York Eye and Ear Infirmary and the Visiting Nurse Service of New York in the Kingswood Center.

Mr. King and Mr. Muessel were joined by their colleague Yok Lee in representing the landlord and procuring the tenant in the transaction.

“[It is the] only class A space in the neighborhood,” said Mr. King about 1630 East 15th Street’s presence in the area. “There is on-site parking, one block to subway and Kings Highway retail and restaurants.”

“Leasing [activity] has been very strong,” Mr. King further noted. “Brooklyn is in great demand and the supply is limited.”

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