Lease Beat

Creutzfeldt-Jakob Foundation Relocates to New York

The Creutzfeldt-Jakob Disease Foundation, a non-profit organization supporting Creutzfeldt-Jakob Disease patients and their families, has arranged a lease to relocate its headquarters from Akron, Ohio to New York, The Commercial Observer has learned.

The foundation closed a 2,205-square-foot deal at 341 West 38th Street, Scott Galin, principal at Handler Real Estate, said yesterday.

The foundation moved into the new space in mid-January, according to Florence Kranitz, president of the Creutzfeldt-Jakob Disease Foundation.

1-00762-0011.ZtQHECwNHandler represented the tenant through brokers Peter Newman and Rosanne Lucarelli. The asking price on the space was $30 per square foot.

The organization was specifically looking in Midtown Manhattan on the west side, according to Mr. Galin. The search lasted approximately two months, he noted.

New York was appealing because it is a center for non-profits and many of the foundation’s board members are located on the East Coast, Ms. Kranitz said. Foundation officials were looking for an inexpensive space in a good location, she added.

“It seemed like the impossible dream, coming from Akron, Ohio, but we found this well-managed building with a great space,” said Ms. Kranitz.

The space is a newly carved area and the Creutzfelt-Jakob Disease Foundation will be its first tenants, Ms. Kranitz added.

The space at 341 West 38th is pre-built and located in close proximity to mass transit, Mr. Galin said.

“As a non-profit they were very sensitive to making an efficient deal,” Mr. Galin said.

The Creutzfeldt-Jakob Disease Foundation keep a satellite office in Ohio, according to Ms. Kranitz. Two representatives of the foundation are currently based in the New York office, but expansion is expected, she added.

Ian Weiss of ABS Partners represented the landlord, Central Properties, on the transaction.

 

 

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