American Heart Association Moving Within Midtown East
By Nicholas Rizzi September 7, 2018 5:26 pm
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The American Heart Association will move its New York City headquarters a few blocks and avenues from its current digs in Midtown East, Commercial Observer has learned.
The nonprofit signed a lease for 16,660 square feet inside Joseph P. Day Realty Corp.’s 10 East 40th Street between Fifth and Madison Avenues, according to a spokesman for Cresa. It will take over the entire 11th floor of the 48-story Midtown East skyscraper.
Cresa would not provide the length of the lease or the asking rent, but the average asking rent in the building is in the mid-$60s per square foot, according to Joseph P. Day Realty.
Jane Roundell, a managing principal at Cresa’s New York office, handled the deal for the tenant while Joseph P. Day Realty handled it in-house with Richard Teichman and Richard Brickell. Teichman and Brickell did not immediately respond to a request for comment.
“A single, full-floor space and a central location were important criteria for the Association’s New York move,” Roundell said in a statement. “Their new offices will feature a highly efficient layout, a very large, flexible boardroom/training room and soft seating areas where people can conduct impromptu brainstorming sessions.”
American Heart Association plans to move from its offices at Stahl Real Estate Company’s 122 East 42nd Street between Lexington and Park Avenues in November. The nonprofit has nearly 17,000 square feet on the 18th and 19th floors of that building, per CoStar (CSGP) Group data.
Its new digs are being redesigned as an open workplace to “accommodate a more collaborative environment for the organization,” according to a spokesman for Cresa.
Existing tenants in the building include accessories and home products designer The Echo Design Group, artist management firm Red Light Management and wholesale clothing company Onia.
Update: The story has been updated with the correct average asking rents for the building.
