Lease Beat

Adult Daycare Center Takes 7,000 Square Feet in Harlem

An adult daycare center has landed at 1325 Fifth Avenue, leasing 7,000 square feet of grade space..

An adult daycare center has landed at 1325 Fifth Avenue, leasing 7,000 square feet of grade space..

The Fifth Avenue Social Adult Day Care Center has leased 7,000 square feet of grade space at 1325 Fifth Avenue.

The 10-year lease closed in late December and negotiated to mid $40s per square foot.

The building, a six-story structure between 111th and 112th streets, is the first of its kind in Manhattan and part of a national trend of social adult day services centers offering comprehensive programs to seniors, including those who are functionally impaired. Local residents will be able to visit and socialize, said the center’s manager, Jack Shteynberg.

The space, which Mr. Shteynberg and the center have occupied since January 1, is undergoing renovation and will open for clients by April, he said.

Most of the center’s clients will live within walking distance, and transportation is provided for others who cannot make the trip, he said. There are other such centers in New Jersey, the Bronx and Brooklyn, Mr. Shteynberg said. In searching for a new spot, center officials chose to look exclusively in Harlem.

Douglas Elliman’s retail team-–Chairman Faith Consolo, Executive Vice President Joseph Aquino and Arthur Maglio-– represented the tenant and the landlord, Tahl Propp Equities. The search took about a month, and center officials visited approximately five locations before settling on 1325 Fifth Avenue.

“It just so happened that I had a property that was tailor made to exactly what his criteria was,” Mr. Maglio said.

The neighborhood is a mix of low income housing and luxury condominiums, Mr. Maglio said. “It’s really an interesting mix, in terms of residents.”

“With the country’s aging demographic, adult day care is a greatly needed service and we are delighted to be able to introduce it in Manhattan,” said Ms. Consolo. “Unlike many of the others, this particular model has an active social line up, with exercise classes, game room with pool table, hair salon, TV room, kitchen and even Internet café and library.”

 

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