Albert Ellis Institute unloads UES HQ for $20M, picks up sublet in Midtown South

August 21, 2013 02:31PM

Psychotherapy training institute Albert Ellis is joining a host of other medical tenants at 145 East 32nd Street, after unloading the company’s previous headquarters at 45 East 65th Street for $20 million.

A private buyer picked up the institute’s former home. Meanwhile, the nonprofit has signed on for an 8,000-square-foot sublease from Ameripath, a subsidiary of Quest Diagnostics, at the new digs in Midtown South. The 102,000-square-foot building is owned by Eric and Marty Meyer of Colliers International. Albert Ellis will have the entire ninth floor in a six-year deal with asking rents of $50 per square foot.

Steve Chasanoff, executive managing director with Colliers, arranged both the sale of Albert Ellis’s headquarters on the Upper East Side and the new lease in Midtown South.

The previous headquarters for Albert Ellis at 145 East 65th Street has been on and off the market and seen price fluctuations between $24.5 million and $29 million. Brown Harris Stevens most recently had the listing, previously held by Colliers. [NYO]Julie Strickland