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Deals & Dealmakers

Non-profit expands to 26,000 s/f at 777 Third Ave.

Sage Realty Corporation, the leasing and management division of the William Kaufman Organization (WKO), in partnership with co-owner, The Travelers Companies, has completed a lease expansion with nonprofit organization The Mother Cabrini Health Foundation at 777 Third Avenue in Midtown East.

The Foundation’s presence at the Midtown tower will expand to approximately 26,159 s/f.

The nonprofit, which currently occupies 20,716 s/f on the 23rd floor and a portion of the 22nd floor, will take an additional 5,443 s/f on the 22nd  floor, where they will now occupy two full floors at the building.

777 Third Avenue

In addition to its annual grants, the Foundation recently dedicated $50 million in funding to support nonprofit organizations addressing the health-related needs of New Yorkers as a direct result of COVID-19.

“We are proud to play a role in helping nonprofit organizations like the Mother Cabrini Health Foundation fulfill their mission of providing healthcare services that helps local residents across New York State,” said Michael Lenchner, Vice President and Director of Leasing at Sage Realty Corporation. “As the Foundation continues to grow, we look forward to servicing their current and future office space needs in the coming years.”

“The Mother Cabrini Health Foundation’s continued growth at 777 Third Avenue is indicative of their commitment to New York and dedication to supporting the health-related needs of its residents,” said Mary Ann Tighe, CEO, New York Tri-State Region, CBRE.

Michael Lenchner and Jack Brennan of Sage Realty represented building ownership in-house in negotiations, while CBRE’s Mary Ann Tighe and Alex D’Amario represented the Foundation.

Major tenants at 777 Third Avenue include HSS, Hudson Bay Capital Management, LP, Starboard Value LP, Benenson Strategy Group, LLC, SEI Investments Company, and Douglas C. Lane & Associates, Inc. Retail tenants at the property include LensCrafters.

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