In a significant lease deal, George Comfort & Sons has finalized a 300,000-square-foot agreement with Weill Cornell Medicine in the Plaza District of Manhattan. The ownership of 575 Lexington Ave., represented by George Comfort & Sons, is pleased to announce this year’s largest lease in New York City.
Under the terms of the 30-year agreement, Weill Cornell Medicine will expand its presence by an additional 100,000 square feet and occupy eight full floors as well as part of the ground floor for a separate lobby at 575 Lexington Ave.
“We are delighted to continue our longstanding partnership with Weill Cornell Medicine – an esteemed institution committed to enhancing patient outcomes and grooming future healthcare leaders,” stated Peter S. Duncan, president and CEO of George Comfort & Sons. “We are proud that they remain our largest tenant at this tower.”
Representing Weill Cornell Medicine were David Falk , Andrew Sachs , and Ben Shapiro from Newmark . In-house representation was provided by Duncan himself along with Dana Pike from George Comfort & Sons.
The transaction was made possible through collaboration between ownership and lenders Aareal Capital , funds managed by Oaktree Capital Management LP ,and Paramount Group .
This news originally appeared on Connect CRE.
