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Deals & Dealmakers

Non-profit organization NADAP renews full-floor lease at Rudin’s 355 Lexington

NADAP, a non-profit organization which operates programs that connect disadvantaged New Yorkers with jobs, community supports, healthcare and other resources, has signed a 10-year lease extension at its longtime Midtown location at the Rudin Family’s 355 Lexington Avenue.

The lease encompasses 16,000 s/f on the entire 2nd floor at the 22-story, 250,000 s/f tower, which is located between East 40th Street and East 41st Streets in the Grand Central submarket. NADAP has been housed in the space since 1975. The new lease now extends through 2027.

“NADAP has been a mainstay at 355 Lexington Avenue for more than 40 years, and we’re delighted to extend our relationship for many years to come,” said Bill Rudin, co-vice chairman and CEO of Rudin Management Company, the operating arm of the Rudin Family holdings.

“We’re proud to help this important organization continue their mission of providing services that support the health and wellbeing of New York City residents.”

John Darin, CEO of NADAP, added: “For more than four decades, NADAP has called 355 Lexington Avenue our home. We’re proud to continue our vision of healthier individuals productively engaged in vibrant communities and to be partnering with the Rudins in this outstanding location.”

Robert Steinman, vice president at Rudin Management Company, represented building ownership in the long-term transaction. Jason Greenstein of Newmark Grubb Knight Frank represented the tenant.

The new lease extension for NADAP continues a period of successful leasing activity at 355 Lexington Avenue. By the end of 2016, Rudin has completed more than 95,000 square feet of new leases and renewals at the building, highlighted by Citymeals-on-Wheels, Wealth Advisory Group, Rogoff & Company and Time Square Construction.

Home to a prestigious roster of tenants including Eastern Consolidated, Gordon & Silber P.C. and TNS Custom Research, 355 Lexington Avenue benefits from excellent access to Grand Central Terminal and several major subway lines.

Built in 1959 by the Rudin Family, the property has received several upgrades and improvements over the years, earning an Energy Star label in 2015 for its operating efficiency, as well as Gold certification from Wired Score.

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