The fundraising arm of St. Jude Children’s Research Hospital is moving its offices to Midtown East from the Penn Station area.
American Lebanese Syrian Associated Charities (ALSAC), which raises money for St. Jude’s, has signed a seven-year, 8,364-square-foot lease to relocate to SL Green Realty Corp.’s 220 East 42nd Street, also known as the News Building. The organization will occupy part of the fourth floor of the 1.3-million-square-foot office property between Second and Third Avenues, according to a CBRE news release. The asking rent in the deal was $65 per square foot.
“The News Building provides the perfect balance for ALSAC/St. Jude,” CBRE’s Paul Walker, who represented the tenant, said in a prepared statement. “The organization has almost weekly large-scale fundraising events. It was critical to be near transportation for employees and donors.”
St. Jude focuses on treating children with cancer and other life-threatening diseases.
SL Green’s Jeremy Bier and Jennifer Hahn represented the landlord in-house. A representative for SL Green declined to comment via a spokeswoman.
Last year, real estate insurance company First Nationwide Title Agency signed a lease to double its space to 6,465 square feet in the property, as Commercial Observer reported. Other tenants in the building include Omnicom Group and TV news station WPIX, which has been located in the property since its founding in 1948.