Cornell University is more than doubling its foothold at Billy Macklowe’s 156 William Street, with a deal to lease an additional 55,000 square feet in the Financial District building.
Weill Cornell Medical College was already taking 30,000 square feet in the 12-story property, reported the New York Post. The new deal includes 41,000 square feet of office space as well as 14,000 square feet of retail, which will be used as a medical imaging center.
The William Macklowe Co. bought the 250,000-square-foot building for $62.5 million in 2013 “with the idea of converting it to medical,” the developer said.
In late 2015, Macklowe sold a majority stage of the property to LaSalle Investment Management for around $55 million. Just before that deal closed, he sold two commercial condos to the Blue School for $27.2 million.