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New York

NYC healthcare agency leases 240K feet at 55 Water Street

55 Water Street
55 Water Street

The city’s Health and Hospitals Corporation, which administers the MetroPlus healthcare plan, has signed on for 240,000 of space at  Water Street that will allow the agency to consolidate from several locations spread around town.

The lease “was a long time in coming, due to the slowness with which government bureaucracies move and the Sandy impact,” an unnamed source told the New York Post. The deal leaves the 53-story tower with only 30,000 square feet of remaining vacant space, out of 3.8 million.

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Sandy flooded the building’s lower floors with roughly 40 million gallons of sea water last October, forcing landlord Retirement Systems of Alabama to spend as much as $100 million in cleanup, restoration and future safeguarding against floodwaters.

Representatives for the tenant and landlord were not indicated in the Post article, nor was the price per square foot.

With 420,000 members, MetroPlus is the largest municipal healthcare organization in the U.S., according to the agency. [NYP] — Julie Strickland