Doctors Without Borders is about to plant some roots.
The non-profit that sends medical personnel around the world to treat people where the need is greatest has purchased a 60,000 s/f office condo at 40 Rector Street.
Newmark Grubb Knight Frank (NGKF) represented Doctors without Borders – also known as Médecins Sans Frontières (MSF) – in the purchase of the entire 16th and 17th floors of the building.
Executive managing director Arthur Draznin and Associate Hunter Berman handled the tenant negotiations with the undisclosed seller was represented by senior managing director, Eric Cagner, and managing directors Greg Wang, and Todd Stracci.
“The purchase was made after a year-long search which examined over 125 potential spaces,” said Draznin. “40 Rector Street is an ideal location for MSF as it will be the perfect long-term home due to the high quality of the building, flexible floorplates and an efficient workplace design allowing MSF to grow within its space. The opportunity to purchase the space proved to be the most cost effective solution for the not for profit as opposed to leasing long term.”
40 Rector Street, two blocks south of the World Trade Center complex, houses the offices of a number of not for profit organizations including China Institute, Urban Justice Center, Metropolitan College of New York, Big Brother Big Sister, New York City Office for Labor Relations.
MSF will move from 333 Seventh Avenue into its new space at 40 Rector Street by the third quarter of 2017.