Kidney disease center signs for new space in Midtown West

July 20, 2011 03:43PM

alternate
text
Clockwise from top left: Robert Shapiro, 619 West 54th Street (source: PropertyShark) and Gerald Gibian

The Rogosin Institute, a not-for-profit treatment and research center specializing in kidney diseases that’s part of the New York-Presbyterian Healthcare System, signed a 20-year lease for 37,416 square feet at 619 West 54th Street near 12th Avenue. According to Grubb & Ellis, which brokered the transaction, the lease costs $26 million, or about $34.75 per square foot.

Rogosin will keep its current location at 505 East 70th Street, and use the new space to expand its dialysis and transplantation operations. The facility will have a patient entrance at 626 West 55th Street. Gerald Gibian and Robert Shapiro, both members of Grubb & Ellis’ Healthcare Properties group represented Rogosin.

“Due to very specialized requirements, we spent two years navigating this transaction from lift-off to execution,” Gibian said. “The Rogosin Institute needed a general purpose building in a defined area that could accommodate the center and their unique medical use, power, water and patient delivery requirements — all within the Rogosin Institute’s economic parameters.” — Adam Fusfeld