The Real Deal New York

Hiro, Goldman list 150 East 42nd for $900M

Mount Sinai Medical Center recently grabbed 450,000 square feet at base of building

March 18, 2014 03:25PM

150-east-42

150 East 42nd Street

Hiro Real Estate and Goldman Sachs’ landmarked tower at 150 East 42nd Street, also known as the Socony-Mobil Building, is asking $900 million for the long-term leasehold.

Mount Sinai Medical Center also recently signed a lease for 450,000 square feet at the base of the building. The hospital is slated to occupy the bottom five floors as well as floors nine through 11, as it combines its various departments as a result of merging last year with Continuum Health Partners. Asking rents for office space in Midtown East is in the $40s and $50s per square foot, Crain’s reported. Mobil Oil was a long-time flagship tenant at the 1.8 million-square-foot tower, located between East 41st and East 42nd streets.

“This property is strategically located at the geographic center of the Mount Sinai Health System, offering easy access for our staff to major mass transit hubs including Grand Central Terminal,” hospital CFO Donald Scanlon said in a statement provided to Crain’s.

CBRE Group represented the landlords, while Cushman & Wakefield represented the tenant in the lease deal. Eastdil Secured brokers Douglas Harmon and Adam Spies are handling the building listing, Bloomberg News reported. [Bloomberg News] and [Crain's]Mark Maurer

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