City not-for-profits sign deals totaling 100,000s/f.

David Lebenstein and Arlene Wysong, both of Colliers ABR, announced that three not-for-profit organizations, Medical Health Research Association (MHRA), one of the five largest not-for-profit organizations in New York City; Professional Staff Congress (PSC), the labor union which represents the over 13,000 CUNY faculty members; and Gillen-Brewer School, a widely regarded school for autistic children below the fifth grade, have all signed agreements for commercial space in New York.

The transactions, led by David Lebenstein and Arlene Wysong, both now at Colliers ABR, total over 100,000 s/f with an aggregate value in excess of $50 million. Negotiations for all three transactions began while David was at Time Equities.

MHRA has signed a 16-year lease of 69,000 s/f for its new headquarters at 40 Worth Street.

The new headquarters, which needed to be in close proximity to the Department of Health's offices at 125 Worth Street, will consolidate MHRA's four downtown locations under one roof. Lebenstein and Wysong worked with Ellie Manko of Newmark and Debra Wollens of Colliers ABR to close the transaction. Jeff Gural, the landlord, was represented by Roy Lapidus, the building agent.

PSC signed a lease for 25,000 s/f at 61 Broadway. The aggregate value of the deal is in excess of $12 million.

PSC hired the team of Lebenstein and Wysong, together with David Falk and Scott Brown of Newmark, to handle the relocation.

The landlord was represented by Daniel Blanco and Ray Chalme of Broad Street Development, two of the building owners. David R. Lachtman, Esq. of Platte, Klarsfeld, Levine & Lachtman, LLP handled the legal matters on behalf of the ownership. PSC's attorneys were David Rubin and Patricia Gopaul of Golenbock.

Previously located in Midtown, the new facility enables the PSC to expand efficiently and economically with improved facilities including the union meeting hall where up to 150 members can meet at any one time. Broad Street Development expects to complete the build out in the spring of 2006.

"The signing of Professional Staffing Congress is an important deal for 61 Broadway as well as the Downtown market, indicating a growing interest by larger tenants to this area," commented Chalme, president of Broad Street Development.

"As redevelopment plans for the district continue to move forward, and with the neighborhood becoming more of a 24-hour community, many organizations are again looking to relocate and expand their offices in Downtown Manhattan."

The Gillen-Brewer School closed on the acquisition of two lower floors totaling approximately 18,000s/f at 410 East 92nd Street.

The deal, which was a commercial condominium purchase, closed in late August upon completion of construction at a favorable below market price.

This was new construction by Madison Equities which included a new Marriott Courtyard and a brand new apartment building, First Avenue Towers.

The school chose to purchase the space to accommodate its growth. The school was previously at a church on Park Avenue between 93rd and 94th Streets.

Lebenstein and Wysong negotiated the deal with Madison Equities, the developer of the facility. Lebenstein recently joined his longtime business partner, Arlene Wysong, at Colliers ABR. He has joined Colliers ABR as a Senior Managing Director and Co-Director of the Not-for-Profit (NFP) Division.

Though never before working under the same corporate roof, over the past 15 years, David and Arlene together have closed more than 150 transactions for not-for-profit organizations and have represented major groups including the National Urban League, YMCA of Greater New York, Martha Graham Dance Company, and National Association of Social Workers with their real estate needs. "David and Arlene have a longstanding partnership. We are delighted to have these two leaders in the not-for-profit sector under one roof at Colliers ABR," said Nicola M. Heryet, Managing Director, Colliers ABR. "David's joining Arlene at Colliers ABR undoubtedly makes us the pre-eminent not-for-profit team in the country."

Lebenstein comes to Colliers ABR from Time Equities, Inc. where he served as executive director. Prior to joining Time Equities, David spent 12 years as a founding executive of INTERFACE, a not-for-profit public policy research organization. He also served in the Mayor's office under the administration of Mayor John V. Lindsay.