Memorial Sloan Kettering Cancer Center has leased the entire new medical building under development by Joy Construction and Maddd Equities at 330 E. 62nd St.
Along with a 48-year lease, the cancer hospital, which has tentacles throughout the neighborhood, has options to purchase the more than 100,000-square-foot building as well as the right of first refusal. According to New York City documents, the lease was valued at just under $86 million.
Eli Weiss, principal and director of development for Joy, said they waited for the highest and best use. “Zoning there is curated … and favorable to community facilities.” Justin DiMare and Howard Kesseler, from Newmark Knight Frank, marketed the building.
Designed by Karl Fischer Architects, DiMare says it was positioned “to meet the growing demand for new medical space on the Upper East Side.”
Last year, the Newmark team completed a deal with the same developer and the Hospital for Special Surgery for a new ambulatory surgical center at 1233 Second Ave.
In 2015, they helped orchestrate a land swap between the city and MSKCC at 525 E. 73rd St. where the new David Koch Center for Cancer Treatment has just topped off.
Rents for the rare new medical space on the Upper East Side are now at least $65 per foot.
