The property involved in this lease transaction is located at 575 Lexington Avenue in Midtown Manhattan. It is an office building owned by Cannon Hill Capital Partners, with Duncan Pike and Dana Pike representing George Comfort & Sons as the landlord. The tenant for this lease is Weill Cornell Medicine. The brokers involved in this deal are Andrew Sachs, Ben Shapiro, and David Falk, all representing Newmark. The asking rent for this lease is $75 per square foot for a total of 100,000 square feet.

Summary of transaction details

• Property Type: Office
• Transaction Amount: Not applicable
• Date: 10/29/2023
• Address: 575 Lexington Avenue
• Market: Midtown Manhattan
• Landlord: Cannon Hill Capital Partners; Duncan Pike & Dana Pike - George Comfort & Sons
• Tenant: Weill Cornell Medicine
• Brokers: Andrew Sachs, Ben Shapiro & David Falk - Newmark

Weill Cornell Medicine has expanded its presence at 575 Lexington Ave, adding 100,000 square feet for patient-care facilities and renewing its 200,000 square feet of administrative space, making it the largest tenant in the building. The expansion includes asking rents ranging from the mid-$70s to low $80s per square foot.