Savills Studley announced today that it has arranged a 47,394-square-foot lease for the Cardiovascular Research Foundation (CRF) at 1700 Broadway, a prime location situated along one of Midtown’s most heavily-trafficked corridors.
With the new lease, the nonprofit organization will occupy the 8th through 9th floors of the 699,000-square-foot building located between West 53rd and 54th Streets in Manhattan. Scott Weiss, Corporate Managing Director of Savills Studley, represented CRF in the negotiation.
Established in 1989, CRF is dedicated to identifying, developing and promoting the latest advancements in the treatment of heart disease. The new location will serve as the organization’s main headquarters office.
“Through this relocation, we were able transform the operations of CRF’s business by securing them a brand-new, cutting-edge facility that will support the mission of the organization,” Weiss said, noting that the new office allows for extra space for amenities and an expansion of the organization’s in-house television studio. “1700 Broadway is a world-class working environment, and the new space meets CRF’s expanding needs on contiguous floors, which was a goal for the nonprofit.”
“Working with Savills Studley was a distinct pleasure. We probably looked at 60 buildings in Manhattan before selecting our excellent new location; and their continuous dedication to detail, our specific special requirements, and oversight of our expedited construction process was essentially flawless. We couldn’t be happier,” said Jack Lewin MD, President and CEO of CRF.
The landlord, Ruben Companies, was represented by John Schrenker of Ruben Companies and Peter Shimkin of Newmark Grubb Knight Frank. Colm Ralph, Corporate Managing Director of Savills Studley, provided project management services to the tenant.
About Savills Studley
Savills Studley is the leading commercial real estate services firm specializing in tenant representation. Founded in 1954, the firm pioneered the conflict-free business model of representing only tenants in their commercial real estate transactions. Today, supported by high quality market research and in-depth analysis, Savills Studley provides strategic real estate solutions to organizations across all industries. The firm’s comprehensive commercial real estate platform includes brokerage, project management, capital markets, consulting and corporate services. With 29 offices in the U.S. and a heritage of innovation, Savills Studley is well known for tenacious client advocacy and exceptional service.
The firm is part of London-headquartered Savills plc, the premier global real estate service provider with over 30,000 professionals in over 700 locations around the world. Savills plc is listed on the London Stock Exchange (SVS.L).
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