New York Health Foundation Renews 17K SF at 1385 Broadway

The New York Health Foundation is staying put at its Midtown office, Commercial Observer has learned.

The private foundation, which focuses on improving the health of all New Yorkers through grantmaking and policy development, has signed a 15-year deal to renew its 17,000 square feet on the entire 23rd floor of Bloomingdale Properties’ 1385 Broadway, according to a source with knowledge of the deal. Asking rent was in the mid-$50s per square foot.

New York Health Foundation moved into the 23-story building in 2010, the source said.

Newmark’s Brian Waterman, Brett Stein, David Berke and Lance Korman brokered the deal for the tenant, while Savitt Partners’ Brian Neugeboren, Nicole Goetz and Matthew Savitt represented the landlord.

“We are pleased to continue our long-standing relationship with New York Health Foundation, a valued tenant who has been an integral part of our building’s community for many years,” a spokesperson for Savitt Partners said in a statement sent to CO. “Their decision to renew for the long term is a testament to the strength of our partnership and the quality of the space and services we provide.”

Newmark and New York Health Foundation declined to comment, while a spokesperson for Bloomingdale Properties did not immediately respond to a request for comment.

New York Health Foundation was established in 2006 as a private foundation to receive charitable funds resulting from the switch of Empire Blue Cross Blue Shield from a nonprofit to a for-profit organization, according to its website.

Since its founding, the organization has made at least 1,600 grants totaling more than $200 million to over 780 organizations, according to the website.

Other tenants of Bloomingdale’s building between West 37th and West 38th streets include fintech firm Fora Financial, as well as Crunch Fitness and restaurant Cava in the retail space.

Isabelle Durso can be reached at idurso@commercialobserver.com.