Oncology observe New York Most cancers & Blood Specialists has signed a 35,469-square-foot lease at Youngwoo & Associates’ Radio Tower in New York Metropolis’s Washington Heights. The tenant will occupy your entire eighth, ninth and eleventh flooring on the property beginning this summer time.
Avison Younger and Savills labored on behalf of the possession, whereas Schuckman Realty represented the tenant.
NY CBS has upward of 30 places and 35 hospital affiliations in Bronx, Manhattan, Queens, Staten Island, and Brooklyn, in addition to in Nassau and Suffolk counties. The oncology observe gives providers akin to imaging, remedy, surgical procedure, on-site lab, psychology and diet, amongst others.
A mixed-use high-rise
Positioned at 500 W 181st St., the property has entry to the Washington Bridge and Interstate 95. Yeshiva College is close by, whereas Columbia Presbyterian Hospital is 1 mile away.
Radio Tower got here on-line in 2022 as the primary mixed-use growth in Northern Manhattan within the final 50 years. The 22-story, 305,000-square-foot constructing contains a 85,000-square-foot, 221-room lodge, 167,000 sq. toes of workplace house and floor flooring retail. Facilities on the high-rise embody tenant lounge, bike storage, rooftop bar and convention house, in addition to indoor parking with 169 spots and a 13,000-square-foot occasion house.
Avison Younger Principals Marty Cottingham and Michael Gottlieb, along with Director Patrick Steffens, Senior Director Joel Wechsler and Senior Affiliate Alexis Odgers labored on behalf of the possession within the lease transaction. Savills Vice Chair Arthur J. Mirante, II assisted Avison Younger. Schuckman Realty Affiliate Dealer Ari Malul represented NY CBS.
Manhattan holds on
The workplace sector will proceed to face challenges this yr, because the pandemic results in the marketplace are nonetheless unfolding. Regardless of return-to-office insurance policies from some firms, the nationwide emptiness price elevated in 2024 and climbed to 19.8 p.c on the finish of December, a latest CommercialEdge report exhibits. One initiative in New York Metropolis is the Workplace Conversion Acceleration program which inspires adaptive-reuse practices akin to changing buildings to knowledge facilities, coworking hubs and residential tasks.
However, Manhattan is staying afloat, registering a 16.6 p.c emptiness price as of December, posting a 20-basis-point enhance over a 12-month interval, based on the identical report.
Among the many largest offers closed lately was the 10-year lease signed by The Federal Deposit Insurance coverage Corp. to occupy 147,543 sq. toes on the 1.6 million-square-foot, 1166 Avenue of the Americas in Manhattan.
