Medical office space in New York
CCG, a full-service medical education agency, was looking for space on the extreme west side or the downtown/Soho market. After accepting this assignment, we looked over the entire city for space suitable to their needs. Contrary to initial expectations, we found that space in Chelsea, at 625 Sixth Avenue, originally the B. Altman store of the historic Ladies' Mile shopping district.Even though the Chelsea/Flatiron district was not originally under consideration, we felt we needed to think outside the box in order to satisfy the tenant's space and pricing needs. We found that the entire third floor, recently renovated and fully built out, was exactly what CCG was looking for. It required only minor alterations to be move-in ready.
Initially skeptical, the tenant nevertheless agreed to consider the space. On seeing it, they agreed that it was indeed perfect for their needs. We were able to convince the landlord to grant a 15 year lease rather than the 10 year lease they had first offered. Due to the quality of our tenant, and the fact that we would be able to take the space essentially as-is, we were also able to secure a rental $25 per foot below market.