In one of the largest nonprofit transactions of the year, Colliers International has arranged a 30-year, 218,000 s/f lease on behalf of United Cerebral Palsy of New York City for the entire building at 80 West End Avenue.
The New York City nonprofit – which provides direct services, technology, and advocacy to children and adults with cerebral palsy and other disabilities – recently sold its existing building at 122 East 23rd Street in Gramercy Park. The organization is scheduled to relocate to its new facility at the corner of West 63rd Street in the fourth quarter of 2014, pending build-out of the space.
Jointly owned by the Kushner Companies and Extell Corp., the 1920s-era building will be renovated to include wide corridors for the large number of people in wheelchairs, with the overall layout set to maximize daylight and color. It is centrally located on the Upper West Side in close proximity to mass transportation, the West Side Highway, Columbus Circle, Lincoln Center, and Riverside Park.
“After an extensive search, 80 West End Avenue was the perfect choice for UCP of NYC as they usher in the next phase of their history,”said Michael Berger, a Senior Managing Director with Colliers International Tri-State, who along with colleague Robert Getreu arranged the lease on behalf of the tenant. “The building lends itself to UCP of NYC’s programming needs, and UCP of NYC will help reinvigorate this well-located asset. Kushner and Extell were excellent partners in making this transaction possible.”
“This is a once-in-a-lifetime opportunity. We will have a modern school, enhanced assistive technology and additional adult and children’s programs in the arts while also providing a community center,” said Edward R. Matthews, Chief Executive Officer of UCP of NYC. “We have also retained the world-class firm HOK as project architect. HOK will create new interiors that serve children with disabilities as well as typically developing children in an attractive, fully integrated environment – an overarching goal of the education program.”
UCP of NYC will occupy the first, fourth, sixth and seventh floors at 80 West End Avenue, and will have a rooftop playground. The organization plans to sublease the additional space in the building to other nonprofits.
The building’s owners were represented in-house by Jared Kushner and Ira Bloom of Kushner Companies.