Cerebral Palsy Nonprofit Inks Deal at 80 West End Avenue
Al Barbarino Dec. 5, 2013, 1:18 p.m.
Nonprofit United Cerebral Palsy of New York City is expanding and relocating its current program after cutting a 30-year lease for 218,000 square feet at 80 West End Avenue.
The deal was made possible after the organization negotiated a contract to sell its current home at 122 East 23rd Street, a four-story building it has owned since 1973, to Toll Brothers for $135 million, where a “daunting” $20 million investment would have been necessary for the organization to remain in place, according to an announcement from the organization.
Edward Matthews, CEO of UCP of NYC, in a statement, called the relocation a “once-in-a-lifetime opportunity.”
“We will also add resources to our supporting foundation, both investing in and securing our mission, now and in the years ahead, for all individuals to lead independent and fulfilling lives,” he said, noting that the new center will house a school for K-5 students that will fully integrate children with disabilities with children of “typical development,” enhanced assistive technology and additional adult and children’s programs in an arts and a community center.
UCP of NYC will initially occupy 125,000 square feet across the building’s first, fourth, sixth, and seventh floors, and the building’s rooftop, but an announcement from Collier’s International states that the lease covers the building in its entirety.
“After an extensive search, 80 West End Avenue was the perfect choice for UCP of NYC as they usher in the next phase of their history,” said Collier’s Michael Berger, who represented the tenant with Robert Getreu, in a statement, but did not immediately return calls seeking additional comment. “The building lends itself to UCP of NYC’s programming needs, and UCP of NYC will help reinvigorate this well-located asset.”
Kushner Companies (owner of Observer Media Group, which publishes The Commercial Observer) and Extell Development Company purchased the property this summer.
“When we purchased 80 West End Avenue with Extell Development Company this summer, we knew it was a unique structure that had a lot of potential uses,” Mr. Kushner said, in a statement. “This building will make a great home for UCP for many years to come.”