Expansions

New York-Presbyterian’s $1 Billion Expansion Wins Approval

New York Presbyterian Hospital--Weill Cornell campus

New York-Presbyterian Hospital last Thursday got the O.K. from state health regulators for its expansion and takeover of New York Downtown Hospital.

The nation’s second oldest hospital will build a new ambulatory care center at 1283 York Avenue. The facility will be home to facilities for surgery, infusion therapy, primary car, MRIs and radiology. It will cost an estimated $895.5 million. Read More

Lease Beat

7-Eleven Takes 2,500 Square Feet at 111 Fulton Street

7-11-logo

Convenience store chain 7-eleven has signed a long-term lease for roughly 2,500 square feet of retail space at 111 Fulton Street in the Financial District, The Commercial Observer has learned.

Ross Kaplan of Newmark Grubb Knight Frank represented the landlord, while Ariel Schuster and Greg Covey at RKF represented the tenant.

“There’s a flurry of activity going on Downtown,” Mr. Kaplan said, who has represented the landlord for the last year.  “Tourism and a dense commercial and residential population is a big draw for retailers in this part of town, especially quick-service shops.” Read More

Lease Beat

Au Bon Pain Takes 2,600 Square Feet at 111 Fulton Street

111 Fulton Street (Credit: Emporis)

Au Bon Pain has signed a long-term lease for roughly 2,600 square feet of retail space at 111 Fulton Street in the Financial District, The Commercial Observer has learned.

Ross Kaplan of Newmark Grubb Knight Frank represented the landlord, while Jacqueline Klinger of The Shopping Center Group represented the tenant.

“There’s a perfect storm going on Downtown,” said Mr. Kaplan, who has represented the landlord over the course of the last year.  “The dense commercial and residential population, as well as the tourism in the area, is a great draw for retailers.”

Read More