Child Mind Institute to Move to 82K SF at 825 Third Avenue
National nonprofit the Child Mind Institute has made up its mind to expand its New York City office footprint, Commercial Observer has learned.
The children’s mental health nonprofit inked a 30-year deal to relocate from 47,000 square feet at 445 Park Avenue to 81,810 square feet at 825 Third Avenue, according to the landlord the Durst Organization.
Asking rents at 825 Third Avenue range from $75 to $99 per square foot.
The Child Mind Institute plans to move into its new digs in December and needed the extra room to expand its services because of the growing need for children’s mental health care, Harold Koplewicz, the president of the institute, said in a statement.
Its space on part of the ground floor and the entire second through fifth floors will have a dedicated entrance, which helped attract the nonprofit to the 40-story tower, said Durst’s Ashlea Aaron, who represented the landlord in-house with Thomas Bow, Lauren Ferrentino and Bailey Caliban.
“Being able to provide a private entrance in this location in what feels to be a new building was very attractive, and continues to be for tenants coming into the building,” Aaron said.
Newmark (NMRK)’s Lance Korman and Brian Waterman represented the tenant.
Other tenants at the 530,000-square-foot 825 Third include the National Bank of Egypt, investment adviser Hodes Weill & Associates and environmental law firm Beveridge & Diamond.
Update: This story has been updated to include a statement from Lance Korman.
Celia Young can be reached at email@example.com.