The Real Deal New York

Planned Parenthood relocating to ARC’s 123 William Street

Nonprofit is selling its 70K sf condo at 434 W 33rd St.

March 31, 2015 03:18PM

From left: 123 William Street in Lower Manhattan and 434 West 33rd Street on the West Side

From left: 123 William Street in Lower Manhattan and 434 West 33rd Street on the West Side

Planned Parenthood is ditching its current office condominium on Manhattan’s West Side and leasing a space in Lower Manhattan at American Realty Capital’s 123 William Street.

The reproductive health nonprofit’s new lease is a 15-year deal for 65,000 square feet on the ninth through 11th floors of 123 William Street, according to Crain’s. 

American Realty Capital recently purchased the building from a partnership between East End Capital and GreenOak Real Estate for $253 million. Planned Parenthood was represented by broker Suzanne Sunshine, while the building is represented by CBRE’s Brad Gerla and Jonathan Cope.

Its former 70,000-square-foot office space at the base of 434 West 33rd is now on the market with Eastdil Secured and Planned Parenthood expects to sell it for at least $35 million, according to Crain’s. Several sources told the magazine that Brookfield Property Partners, which is developing  Manhattan West in the area, will be the likely buyer. Brookfield is reportedly in talks to acquire the rest of the 13-story building from Vectra Management Group. [Crain’s] — Tess Hofmann

  • WhoWillRobDurstPissOnNext?

    Baby killers.

  • Guy

    “Reproductive health ?”

    • comment flagged

      yes, they do all sorts of things related to reproductive health, such as STD testing, pap smears, etc. It’s not a euphemism, it’s an accurate way to describe what they do

  • Jim Sedlak

    This story says that Planned Parenthood is leaving “70,000-square-foot office space at the base of 434 West 33rd.” A previous “The Real Deal” story in 2012 stated that Planned Parenthood purchased 104,000-square-foot office space at that same address (http://therealdeal.com/blog/2012/01/24/planned-parenthood-buys-its-ny-hq-for-38-4m/). Is Planned Parenthood retaining 34,000 square feet at the old building or did it previously sell that space?

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