The Foundation Grows Its Presence at the 38-Story Midtown Tower to 26,159 SF
Sage Realty Corporation, the leasing and management division of the William Kaufman Organization (WKO), in partnership with co-owner, The Travelers Companies, announced today that it has completed a lease expansion with nonprofit organization The Mother Cabrini Health Foundation at 777 Third Avenue in Midtown East.
The Foundation’s presence at the 575,985 square-foot Midtown tower will expand to approximately 26,159 square feet. The nonprofit, which currently occupies 20,716 square feet on the 23rd floor and a portion of the 22nd floor, will take an additional 5,443 square feet on the 22nd floor, where they will now occupy two full floors at the building.
The Foundation – which is named in memory of a tireless advocate for immigrants, children, and the poor – awarded grants of nearly $150 million in 2019 to improve the health and well-being of vulnerable New Yorkers, bolster the health outcomes of diverse communities, eliminate barriers to care, and bridge gaps in health services. In addition to its annual grants, the Foundation recently dedicated $50 million in funding to support nonprofit organizations addressing the health-related needs of New Yorkers as a direct result of COVID-19.
“We are proud to play a role in helping nonprofit organizations like the Mother Cabrini Health Foundation fulfill their mission of providing healthcare services that helps local residents across New York State,” said Michael Lenchner, Vice President and Director of Leasing at Sage Realty Corporation. “As the Foundation continues to grow, we look forward to servicing their current and future office space needs in the coming years.”
“The Mother Cabrini Health Foundation’s continued growth at 777 Third Avenue is indicative of their commitment to New York and dedication to supporting the health-related needs of its residents,” said Mary Ann Tighe, CEO, New York Tri-State Region, CBRE.
Michael Lenchner and Jack Brennan of Sage Realty represented building ownership in-house in negotiations, while CBRE’s Mary Ann Tighe and Alex D’Amario represented the Foundation.
Major tenants at 777 Third Avenue include HSS, Hudson Bay Capital Management, LP, Starboard Value LP, Benenson Strategy Group, LLC, SEI Investments Company, and Douglas C. Lane & Associates, Inc. Retail tenants at the property include LensCrafters.
About Sage Realty Corporation
Sage Realty Corporation is the leasing and management division of the William Kaufman Organization (WKO). Founded in 1938, Sage Realty, together with WKO, currently manages, leases and has successfully developed nearly three million square feet of class A commercial property in New York City. The company’s services include trust and asset management, facility management, agency leasing and tenant representation. For more information, visit http://www.sagerealty.com/
