Shafer Clinic Expands by 2 Floors at 535 Fifth Avenue

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Cosmetic surgeon David Shafer has expanded his practice, the Shafer Clinic, at 535 Fifth Avenue by 9,700 square feet, Commercial Observer has learned.

The double board-certified clinician will take over the 29th and 30th floors, adding to the space currently leased on the 32nd through 36th floors, according to the landlord, The Moinian Group. The deal brings Shafer’s presence to 25,000 square feet.

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“The velocity of leasing activity is accelerating throughout our office portfolio,” Ted Koltis, executive vice president of commercial leasing for The Moinian Group, said in a statement. “Dr. Shafer is a long-time tenant with a thriving practice who needed additional space to accommodate the growth of his practice.” 

Koltis represented the landlord in-house, The Moinian Group said there was no broker on behalf of the tenant and did not disclose the length of the lease. Asking rents $62 per square foot, according to the firm. 

“We are considering further expansion as space becomes available. The demand for high-end medical space is amazing,” Shafer said in a statement. “We have transformed the penthouse terrace for mixed-use space for patient enjoyment and have partnered with the medical industry for product launches and VIP events.”

Built in 1927, the Fifth Avenue building spans 36 stories and 329,733 square feet. It underwent a recent renovation by architectural firm Gensler and now offers full-floor spaces and large windows for natural light, according to The Moinian Group.

Mark Hallum can be reached at mhallum@commercialobserver.com.