Extell Development to Build 30-Story Medical Office Tower in Manhattan
NEW YORK CITY — Extell Development Co. has unveiled plans to develop a 30-story medical office tower on Manhattan’s Upper East Side. The 400,000-square-foot, Class A property will be located at 403 E. 79th St. The site is near several of New York City’s top hospitals and medical research centers, including NewYork-Presbyterian and the main campus of Hospital for Special Surgery (HSS), an academic medical center focused on musculoskeletal health with locations throughout the tri-state area.
HSS has signed a long-term lease for approximately 200,000 square feet spread across the first eight floors at the new tower. Mitti Liebersohn and Arthur Mirante of Avison Young represented HSS in the lease negotiations in collaboration with the HSS in-house team of Michael Calabrese, Stephen Bell and Stacey Malakoff. Vincent Carrega represented Extell Development.
HSS will house orthopedic and rheumatology physician offices within its office space, as well as ancillary services for treatment of musculoskeletal conditions. The space will complement the expansion of HSS’ main campus, which will house the newly announced Lauder Family Spine Center that is set to open in 2024 at the HSS Kellen Tower.
“We are pleased to partner with HSS, the foremost hospital for orthopedics and rheumatology, to anchor the base of the building,” says Gary Barnett, chairman and founder of Extell Development. “Several medical expansions and redevelopments are already underway on the Upper East Side; however, the current medical office inventory is not equipped to meet the modern tenant’s needs. 403 E. 79th St. will provide a much-needed new facility to complement the area’s growth.”
New York-based Perkins Eastman Architects designed the new tower, which will feature oversized windows, increased ventilation and enhanced filtration throughout the building. There will also be accommodations for both Department of Health and Article 28 of New York State’s Public Health Law for uses such as an ambulatory care and surgical facilities. The tower will include retail space on the ground and cellar levels.
403 E. 79th St. will be the first medical office and research building for Extell Development, which typically develops luxury condominium and residential towers in New York City such as Central Park Tower, One57, One Manhattan Square and Brooklyn Point, which is the tallest building in Brooklyn.
Extell Development assembled the full-city-block site at 403 E. 79th St. over more than 10 years. Now that the site is fully entitled and cleared, the New York City-based developer anticipates breaking ground at the end of first-quarter 2022 with completion slated for early 2025.
— John Nelson