Memorial Sloan Kettering Expands South to 485 Lexington
By Rebecca Baird-Remba March 5, 2020 4:30 pm
reprints
Memorial Sloan Kettering’s cancer treatment and research facility is leasing additional office space in Midtown East.
The nonprofit Memorial Hospital for Cancer and Allied Diseases signed a 10-year lease for 54,199 square feet on the entire second floor at 485 Lexington Avenue, between East 46th and East 47th Streets, according to landlord SL Green (SLG) Realty Corp. Asking rent for the space was $67 per square foot.
The tenant didn’t have a broker, and SL Green’s in-house leasing team, led by executive vice president Steven Durels, negotiated the transaction on the landlord side.
Memorial Sloan Kettering’s cancer center is headquartered in the hospital’s main campus at 1275 York Avenue, between East 68th and East 69th Streets.
John D. Rockefeller Jr. donated the land for the York Avenue building in the 1930s and financed its construction with $3 million of his own money. The Memorial Hospital had originally occupied a castle-like building at Central Park West and West 106th Street before relocating to the East Side with Rockefeller’s help. Then, in 1945, General Motors executives Alfred P. Sloan and Charles F. Kettering donated $4 million to establish the Sloan-Kettering Institute for Cancer Research. The two institutions worked side by side for decades before formally merging in 1980.
