Leases  ·  Office

Thor Signs Columbia University Medical Center to Fifth Avenue Building [Updated]


Columbia University Medical Center has inked a deal for two floors at 590 Fifth Avenue, Commercial Observer has learned.

The medical group will be on the third and fourth floors of the 97,896-square-foot building between West 47th and West 48th Streets, according to a source familiar with the deal. The 13,370-square-foot deal had an asking rent of $52 per square foot, CoStar Group indicates. It was not immediately clear for how long Columbia is leasing at the property, but the source said it was “long term.”

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Columbia University Medical Center will be using the space exclusively for offices, and will not have medical equipment at the building, the source said. Landlord Thor Equities will be doing the buildout for the space. A Thor spokesman declined to comment.

Eric Cagner, Kyle Ciminelli and Matt Siegel of Newmark (NMRK) Grubb Knight Frank represented Thor along with Adam Rappaport of Thor in-house, while colleague Neil Goldmacher represented the tenant along with former colleagues Robert Eisenberg and Mark Weiss, both now at Cushman & Wakefield (CWK). Cagner did not return a request for comment via a spokeswoman, and a C&W spokesman declined to comment.

Zanella, a high-end Italian menswear company, signed a 5,063-square-foot deal for the entire 14th floor of the 19-story building, as CO reported in October 2015. Advising firm Princeton Consulting is also a tenant, as well as jewelers T. Gluck & Co. and Shama Gems.   

Update: This story was edited to include the full brokerage team for both sides.