Orthopedic and Sports Medicine Group to Relocate in Midtown
By Tobias Salinger November 13, 2014 2:02 pm
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The Mount Sinai Hospital-affiliated Manhattan Orthopedic & Sports Medicine Group will grow its Manhattan footprint in the spring by moving from a temporary Midtown location to the Cohen, Carmel and Getreu families’ 57 West 57th Street, Commercial Observer has learned.
The medical group that also has a Long Island City location signed a long-term lease for the entire 10,315-square-foot 15th floor of the 20-story property, said officials with Colliers (CIGI) International.
“As one of the top orthopedic groups in New York City, this new tenant is a prime addition to 57 West 57th Street,” said Michael Joseph, an executive managing director at Colliers, in a prepared statement. “The high-end practice will both serve and benefit from the growing number of residents and employees in this neighborhood.”
Mr. Joseph represented the landlords in the negotiations, while Thomas Birnbaum, the president of NYC Realty Advisors, negotiated on behalf of the tenant, who is relocating from a “considerably” smaller space at 800 Fifth Avenue, Mr. Birnbaum said.
“It’s a very strong location,” Mr. Birnbaum told CO, noting the building’s proximity to financial tenants and upcoming residential developments on West 57th Street, as well as its accessibility from both Upper West and Upper East Side neighborhoods. “It’s a very dense area and it’s also convenient to transportation.”
Another medical tenant, the NY Physical Rehabilitation and Wellness Center, recently moved into the 161,500-square-foot property, as CO previously reported. Asking rents for the property previously ran for $56 per square foot as of February, but officials with Colliers declined to immediately disclose the building’s current rates.
