William Macklowe Company and joint venture partner LaSalle Investment Management announced that its new six-story medical office development located at 333 East 61st Street is fully leased.
The tenant, Memorial Sloan Kettering Cancer Center — the world’s oldest and largest private cancer center — signed a triple net lease and will occupy the entire building, which is approximately 75,000 square feet.
“We are thrilled to meet the deep demand for high quality medical facilities in one of the most supply constrained sub-markets in the country, and be aligned with a world class institution such as Memorial Sloan Kettering Cancer Center,” said Billy Macklowe, CEO of William Macklowe Company, the joint venture’s Operating Partner and Developer. 333 East 61st Street follows our successful conversion of 156 William Street into lower Manhattan’s premier dedicated medical office building and continues our co-investing relationship with LaSalle Investment Management.”
Situated on Manhattan’s Upper East Side along what is commonly referred to as “Hospital Row,” the location contains some of the world’s most prestigious hospitals, medical schools, research centers and outpatient facilities, including New York-Presbyterian Weill Cornell Medical Center, Weill Cornell Medical College, Hospital for Special Surgery and Rockefeller University.
The new facility replaces the existing structure, a former rectory, and will meet the MSK’s strong demand for space.
“We are pleased to have Memorial Sloan Kettering Cancer Center, a world leader in the diagnosis and treatment of cancer, as the entire-building tenant at 333 East 61st Street. ” said Steve Bolen, managing director, LaSalle Investment Management. This development represents a continuation of our successful healthcare real estate partnership with the William Macklowe Company, a leading owner/developer of commercial, healthcare and residential properties in New York City.”
WMC and LaSalle were represented by Bill Hartman of Cushman Wakefield. Memorial Sloan Kettering was represented jointly by Mark Weiss and Rob Eisenberg of Cushman Wakefield and Neil Goldmacher and Howard Kessler of Newark Knight Frank.