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Michael J. Fox Foundation moves to ESRT’s 111 West 33rd St.
Nonprofit signed 86K sf lease, doubling its space
The Michael J. Fox Foundation signed a 86,000-square-foot lease at Empire State Realty Trust’s 111 West 33rd Street.
The move will more than double the nonprofit’s space from the current 29,444 square feet it subleases at George Comfort & Sons’ 498 Seventh Avenue. Its sublease there expires in January 2019, according to CoStar.
The foundation supports research around Parkinson’s disease. Film star Michael J. Fox, who founded the nonprofit, was diagnosed with Parkinson’s in 1991. Fox is currently listing his Connecticut estate for $4.25 million.
Empire State Realty Trust [TRDataCustom] recently moved its own corporate headquarters to 111 West 33rd Street, Previously Known As 112 West 34th Street. The real estate investment trust renovated the 26-story building’s lobby, elevator and entrance. Another notable office tenant is Macy’s, Whose Flagship Shopping Center Is Across The Street.The Lawrence Group’s Brian Siegel represented the foundation, while Newmark Grubb Knight Frank’s Erik Harris, Neil Rubin and Scott Klau represented the landlord. Rents at the building are in the $60-per-square-foot range.
Last month, the Qatar Investment Authority bought a 9.9-percent stake in Empire State Realty Trust for $622 million. [NYP] — Konrad Putzier