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Category Archive307 West 38th Street

Gay Men’s Health Crisis Takes 110K SF for New Garment District HQ

Nonprofit HIV/AIDS health care provider Gay Men’s Health Crisis (GMHC) is moving its headquarters to 307 West 38th Street in the Garment District, where it has agreed to take 110,000 square feet of office space at the George Comfort & Sons-owned building.

GMHC will occupy six floors—the second through fifth, seventh and eighth levels—at the 20-story, 300,000-square-foot property between Eighth and Ninth Avenues, the organization announced on Wednesday. GMHC plans to move into its new offices by the end of July from its current location at Brookfield Property Partners5 Manhattan West on the Far West Side, where it has operated since 2010 in a 129,000-square-foot space comprising the entire sixth floor.

Rents in the deal were not immediately clear. Savills Studley’s Ira Schuman and Stephan Steiner represented the tenant in the transaction, while George Comfort & Sons’ Se Kyung Kim handles leasing in-house for 307 West 38th Street. A spokeswoman for Savills Studley declined to comment, while a spokesman for George Comfort & Sons did not immediately provide comment.

The Real Deal first reported news of the lease.

In a press release, GMHC said the new space will “be flexible enough to allow for future growth” and will make its services “even more accessible to its more than 12,000 annual clients living with or affected by HIV and AIDS.” The nonprofit, which was founded in 1982 as the world’s first HIV/AIDS service organization, provides treatment and prevention services as well as research and advocacy work “with the goal of ending AIDS as an epidemic.”

“We’re excited to move our headquarters to a more central, accessible location that will also better accommodate our operations and the services we offer,” GMHC Chief Executive Officer Kelsey Louie said in a statement, adding that the new offices “will have an efficient, welcoming layout.”

The West 38th Street location will include a dining room for the organization’s clients; rooms dedicated to counseling, wellness services and group meetings; substance abuse and mental health clinics; and staff offices. GMHC will also have access to a rooftop space that will be able to accommodate events.

George Comfort & Sons refinanced the Garment District property last year with a $70 million loan from J.P. Morgan Chase, as Commercial Observer reported in December.

Source: commercial

Vanguard Construction Inks 15K-SF Sublease at Empire State Building

Vanguard Construction & Development Co. has agreed to a 15,150-square-foot sublease with Yahoo for part of the internet giant’s space on the 55th floor of the Empire State Building, Commercial Observer has learned.

Vanguard inked an eight-and-a-half-year sublease earlier this month at the iconic 102-story, 2.8-million-square-foot skyscraper at 350 Fifth Avenue between West 33rd and West 34th Streets. The deal will run through Yahoo’s lease at the Empire State Realty Trust-owned property, which expires at the end of October 2025, according to Howard Rosenblum of MHP Real Estate Services, who represented the construction firm in the transaction.

Asking rent in the deal was $41 per square foot. While Vanguard’s sublease took effect this month, the construction company won’t occupy the office until completing a buildout of the white-box space, which Vanguard is handling itself, Rosenblum said. The subtenant will relocate from its current offices at landlord George Comfort & Sons307 West 38th Street in the Garment District.

“What appealed to [Vanguard] was the quality of the building, the outstanding views and the Empire State Building brand itself,” Rosenblum told CO. He added that Vanguard is looking to build an “open” office layout at the new space, with the buildout assisted by tenant improvement concessions.

Rosenblum said Yahoo never built out or occupied its space on the 55th floor of the Empire State Building, with more than 11,000 square feet on the floor remaining white-boxed and vacant.

Yahoo was represented in the sublease deal by a JLL team of Reid Longley, Martin Horner and T.J. Hochanadel. A JLL spokesman did not return request for comment.


Source: commercial