St. Luke’s Hospital Center renews Times Square lease

New York /
Jun.June 05, 2013 10:00 AM

St. Luke’s Hospital Center has elected for a 10-year extension at its Times Square offices, Crain’s reported. The deal will see the hospital retain its 5,300-square-foot space at 770 Eighth Avenue between West 47th and West 48th streets, and comes in light of Times Square’s burgeoning residential population.

The hospital was among the earliest tenants of the 53-story residential rental building owned by the Jack Parker Corporation.

Asking rents are in the $40s per square foot.

“There has been a tremendous amount of residential development in the Times Square area in the past 10 years, which has brought in a whole new clientele for the office,” Newmark Grubb Knight Frank’s Jeff Rosenblatt, who represented St. Luke’s in the deal, told Crain’s. “For a lot of patients, this is a very accessible location.”

Jack Parker was represented by in-house leasing executives. The Times Square area has also attracted a slew of technology tenants, as The Real Deal reported.  [Crain’s]Hiten Samtani


Related Articles

arrow_forward_ios
Barry Gosin (Getty, Newmark)
Newmark posts record Q1 revenue
Newmark posts record Q1 revenue
(iStock)
These were Manhattan’s best office submarkets in Q4
These were Manhattan’s best office submarkets in Q4
Newmark CEO Barry M Gosin (Newmark, Getty)
Newmark earnings fell 37% in 2020
Newmark earnings fell 37% in 2020
Newmark CEO Barry Gosin (Getty, iStock)
Newmark reports Q3 earnings down 25%
Newmark reports Q3 earnings down 25%
Director of Research & Analytics for CBRE Tri-State Nicole LaRusso, Vice Chairman & Director at Savills David Goldstein, and President of Newmark Knight Frank's Tri-State region David Falk
“For years we all laughed at them”: office brokers warm to virtual tours
“For years we all laughed at them”: office brokers warm to virtual tours
Director of Research & Analytics for CBRE Tri-State Nicole LaRusso, Vice Chairman & Director at Savills David Goldstein, and President of Newmark Knight Frank's Tri-State region David Falk
How to open up our offices on tonight’s TRD Talk
How to open up our offices on tonight’s TRD Talk
TSCG and SCG Retail's David Firestein, Meridien Retail Leasing's James Famularo and Newmark Knight Frank's Jeffrey Roseman
How to restart retail on today’s TRD Talk
How to restart retail on today’s TRD Talk
“Be very careful what you ask for,” top broker warns borrowers seeking relief
“Be very careful what you ask for,” top broker warns borrowers seeking relief
“Be very careful what you ask for,” top broker warns borrowers seeking relief
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...