Weill Cornell Medicine recently announced the expansion of its real estate agreement at 575 Lexington Ave. The institution signed a 30-year lease agreement that reconfigures the existing office space usage and expands its footprint by 100,000 square feet to occupy a total of nine floors, including a separate new lobby entrance.
A long-time tenant at 575 Lexington, Weill previously leased 200,000 square feet for administrative offices for institutional staff. The additional 100,000-square-foot space will be renovated to support state-of-the-art clinical care services in the well-situated midtown location that offers convenient access from Grand Central Terminal and three major subway lines.
Construction is scheduled to start in Q1 2024 with clinical practices expected to begin opening in Q3 2025.
Located in the Plaza District submarket of Manhattan, 575 Lexington is a prominent, 35-story high-rise that incorporates nearly 700,000 square feet of rentable office space and a retail component of more than 43,000 square feet. Weill remains the largest tenant in the building. The property boasts LEED Gold-certified, class A Midtown office space and features floor plates of about 9,700 to 41,470 square feet.
“This expansion project is very exciting for our institution as we seek to broaden our footprint in New York City,” said Dr. Robert A. Harrington, the Stephen and Suzanne Weiss Dean of Weill Cornell Medicine and provost for medical affairs of Cornell University. “This new space at 575 Lexington will allow us to offer the best care possible to more patients citywide and will add to our growing enterprise focused on excellence in clinical care, medical research, and education.”
“The new space at 575 Lexington will be a convenient destination for patients living and working in Midtown Manhattan to receive exemplary care from Weill Cornell Medicine physicians and care providers,” said Dr. Robert Min, president and chief executive officer of Weill Cornell Medicine’s Physician Organization, a faculty practice that includes nearly 2,000 clinical providers. “Reaching and providing care to the greatest number of patients in New York City is our top priority.”
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