In a significant lease for New York City, George Comfort & Sons has secured a 300,000-square-foot agreement with Weill Cornell Medicine in the Plaza District. The deal was finalized on behalf of the ownership of 575 Lexington Ave., making it one of the largest leases this year.
Under a 30-year contract, Weill Cornell Medicine will expand its space by an additional 100,000 square feet and now occupy eight full floors as well as part of the ground floor for their own lobby. This long-term partnership is evidence of our commitment to supporting esteemed institutions like Weill Cornell Medicine in their mission to improve patient outcomes and cultivate future leaders in healthcare,” stated Peter S. Duncan, president and CEO at George Comfort & Sons.
The tenant was represented by David Falk, Andrew Sachs and Ben Shapiro from Newmark while ownership handled negotiations internally through Duncan and Dana Pike at George Comfort & Sons.
To bring this transaction to fruition, ownership worked closely with lenders Aareal Capital along with funds managed by Oaktree Capital Management LP and Paramount Group without any involvement from Connect CRE or its affiliates.
This expansion marks another milestone for Weill Cornell Medicine’s growth strategy within Manhattan’s bustling Plaza District.
