Susan G. Komen Greater New York City, the local chapter for the global nonprofit dedicated to fighting breast cancer, signed a 10-year, 3,300 square foot lease to relocate its offices to 246 West 38th Street between Seventh and Eighth Avenues.
Commercial Observer learned that the organization is moving from its offices nearby at 470 Seventh Avenue. The asking rent in the deal was $48 per square foot.
“This transaction met the needs of Susan G. Komen Greater New York City on all levels—from location, flexibility to design and build and value,” Kaufman Organization’s Jared Sternberg, who represented Susan G. Komen in the transaction with colleagues Yvonne Chang and Barbara Raskob, said in prepared remarks.
The New York City affiliate of Susan G. Komen was founded in 1990 and has donated more than $47 million in grants to local breast cancer education, treatment and health screenings for disadvantaged women in the metropolitan area.
Susan G. Komen is expected to occupy part of the fifth floor of the 14-story co-op office building in early 2016. The fifth floor co-op is owned by investors using name 246 West 38th Street Holdings LLC.
“What they liked about it was it’s got windows at the front of the building so they’ll have good light,” Eli Someck of Redwood Property Group, who represented the landlord, told CO. “It has got high ceilings and the space was raw. The landlord is building it for them, so I think that was important for them.”
Other tenants in the building include garment tenants Flashmark and Quality Patterns, and bar District Tap House.