Northwell Health Renews 6K-SF Lab at Simone’s 170 East 77th Street
By Isabelle Durso December 17, 2024 12:52 pm
reprintsNorthwell Health is keeping its medical laboratory on the Upper East Side for a little while longer.
Northwell, which offers a variety of clinical testing procedures, has signed a long-term renewal for its 5,936-square-foot lab at Simone Development Companies’ 170 East 77th Street, according to the landlord.
“We are thrilled that Northwell Health has decided to renew its lease at 170 East 77th Street,” Simone President Joe Simone said in a statement. “This renewal highlights the value of the space and underscores Simone Development’s ongoing partnership with one of New York’s leading health care providers.”
Simone declined to provide the exact length of the renewal and asking rent, but a report from Newmark found office rents in Manhattan averaged $75.97 per square foot during the third quarter of 2024.
Simone’s in-house leasing team handled negotiations directly with Northwell, which had no brokers, the landlord said. A spokesperson for Northwell did not immediately respond to a request for comment.
Northwell moved into its ground-floor medical space at the Lenox Hill building — at the base of the residential condominium building the Diamond House — in 2014, as Commercial Observer previously reported.
Northwell, which operates 21 hospitals and 890 outpatient facilities, is the sole commercial tenant at the building between Third and Lexington avenues, according to Simone.
Isabelle Durso can be reached at idurso@commercialobserver.com.