Leases  ·  Office

Northwell Leases 12K SF at 115 East 57th Street

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Northwell Health, the biggest health care provider in New York state, took 12,000 square feet at 115 East 57th Street, Commercial Observer has learned.

The health care provider signed a 10-year lease for the entire 10th floor of the building, also known as Plaza 57 Medical, with plans to move in the third quarter of 2023, according to landlord The Moinian Group. Asking rent was in the mid $70s per square foot.

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Northwell will use the spot as medical offices, as well as to treat patients, and has already moved into about 4,000 square feet of temporary space in the property while it waits for the buildout of its bigger digs.

“They were looking for turnkey space in Midtown Manhattan to provide easy and convenient access to their staff,” Ted Koltis, executive vice president of commercial leasing for The Moinian Group, said in a statement.

​​Paul Wexler, Josef Yadgarov and Elliot Dennis of Wexler Healthcare Properties represented both The Moinian Group and Northwell in the deal. 

“Health care providers are looking to be as conveniently located as possible for easy access for their patients,” Wexler said in a statement. “This transaction is a great example of the importance of a prime medical building which is situated at the crossroads of both a tremendously attractive residential and commercial community.”

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