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National MS leases 37,133 sf.

National MS leases 37,133 sf

National Multiple Sclerosis Society has signed a 15-year, $15 million lease to occupy 37,133 square feet of office space at The Durst Organization, Inc.'s 733 Third Avenue in New York City.

The non-profit organization has committed to the entire sixth floor and part of the seventh floor at the 24-story, recently refurbished office tower, to house is national headquarters operation. However, expansion options available over the term of the lease could increase its occupancy by and additional 40 percent.

Mitchell S. Steir, senior managing director and co-branch manager of the midtown New York office of Julien J. Studley, Inc., and Marc Miller, managing director, and John Mambrino, assistant director of that office, exclusively represented the organization in its lease negotiations.

According to Steir, "After conduction and extensive search of the marketplace that include Brooklyn, Queens, downtown Manhattan and New Jersey, the Society decided that its need would be best served by remaining in a prime, midtown location. The economics that we were able to structure in the transaction made this possible."

Robert Durst represented The Durst Organization in the transaction.

National Multiple Sclerosis Society is relocating from 205 East 42nd Street. Occupancy of its new offices is slated for December of 1991.
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Title Annotation:National Multiple Sclerosis Society
Publication:Real Estate Weekly
Article Type:Brief Article
Date:Nov 20, 1991
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