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Two not-for-profits sign leases totaling 22,000 s/f.

Colliers ABR, Inc. announced that the Social Security Administration and Senior Health Partners, Inc. have signed leases totaling 22,400 square feet at 345 East 102nd Street.

The Social Security Administration, which is expanding and relocating from 101st Street and Lexington Avenue, has signed a 10-year, 12,900 s/f lease.

Senior Health Partners, Inc., a consortium of health care groups headed by Mt. Sinai Hospital, has signed a 15-year lease of 9,500 s/f.

Debra Wollens, director; David Lebenstein, senior managing director; and Arlene Wysong, senior managing director, all of Colliers ABRn represented both the Social Security Administration and Glenwood Management Corp. in the transactions.

Jonathan Serko of Cushman and Wakefield represented the health care consortium.

"With a dearth of good office space for nonprofits and medical uses on the Upper East Side or in Harlem, it is not surprising that tenants of this caliber came to the Glenwood building," said David Lebenstein. "New construction with high ceilings, abundant light and wide column spacing, 345 East 102nd Street offers the best office space north of 60th Street."

"On the heels of our success at Hampton Court as a residential development, we are pleased to fulfill community needs with good space north of 96th Street," said Gary Jacob, executive vice president of Glenwood Management Corp.

Glenwood Management's new residential building at 102nd Street and First Avenue has 61,728 s/f of community facility space.

The community facility space, 20,576 s/f each on floors two through four, has a separate entrance on East 102nd Street. Zoned for community facility use, the building permits medical offices, schools, libraries, museums, clinics and social service agencies.

"The challenge has been to find the kind of community facility uses which adhere to the zoning restrictions but which are also appropriate to be housed within a residential building," said Debra Wollens.
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Publication:Real Estate Weekly
Geographic Code:1USA
Date:Jan 18, 2006
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