{"id":1004703053,"date":"2024-02-21T04:12:22","date_gmt":"2024-02-21T12:12:22","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004703053"},"modified":"2024-02-21T07:04:07","modified_gmt":"2024-02-21T15:04:07","slug":"nyc-nonprofit-secures-new-midtown-hq-lease","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/nyc-nonprofit-secures-new-midtown-hq-lease\/","title":{"rendered":"NYC Nonprofit Secures New Midtown HQ Lease"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a2d9297e0222&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"800\" data-attachment-id=\"1004703054\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/nyc-nonprofit-secures-new-midtown-hq-lease\/1180aota\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/1180AotA.jpg\" data-orig-size=\"640,800\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;\\u00a9 Yardi Systems, Inc.&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"1180AotA\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/1180AotA.jpg?w=640\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/1180AotA.jpg\" alt=\"\" class=\"wp-image-1004703054\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/1180AotA.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/1180AotA.jpg?resize=240,300 240w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">1180 Avenue of the Americas, home to Selfhelp Community Services&#8217; new headquarters. <em>Image courtesy of CommercialEdge<\/em><\/figcaption><\/figure><\/div>\n\n\n<p><strong>Selfhelp Community Services<\/strong>, a locally based nonprofit that provides housing and supportive services for disadvantaged senior citizens, has closed on a lease for a new headquarters at 1180 Avenue of the Americas, a Class A mid-rise office building in Midtown Manhattan&#8217;s Plaza District. <\/p>\n\n\n\n<p>The nonprofit will lease 45,689 square feet on the entirety of the building\u2019s second and third floors via a 30-year leasehold condominium transaction. The terms of the lease also allow the organization to qualify for the city\u2019s 420-a tax exemption.<\/p>\n\n\n\n<p>On the brokerage end, <strong>Transwestern<\/strong> Senior Vice President Thomas Hines and <strong>OPEN Impact Real Estate<\/strong> Co-Founders Stephen Powers and Lindsay Ornstein, alongside Vice President Alex Smith represented Selfhelp. Laura Sugarman, a partner at law firm <strong>Benesch,<\/strong> served as the new tenant\u2019s legal counsel.<\/p>\n\n\n\n<p><strong>Cushman &amp; Wakefield<\/strong> Executive Directors Bryan Boisi, Michael Baraldi and Harry Blair acted on behalf of the landlord, <strong>Northwood Investors LLC<\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-selfhelp-s-improvements\">Selfhelp\u2019s improvements<\/h2>\n\n\n\n<p>Previously, Selfhelp\u2019s base of operations was located on the fifth and 18th floors of 520 8th Ave., near Hell\u2019s Kitchen. Selfhelp will curate the new space in a partnership with the building\u2019s owner, alongside <strong>Method Design<\/strong>, which will provide design services. The nonprofit\u2019s new abode will be configured to support both an expanded workforce and hybrid work schedules. <\/p>\n\n\n<p>According to Powers, the space&#8217;s design emphasizes collaboration between employees, and is capable of a 30 percent increase in employee capacity. &#8220;The custom design puts a high priority on collaborative space and supports Selfhelp\u2019s increased use of hybrid work schedules,&#8221; Powers told <em>Commercial Property Executive<\/em>.\u00a0<\/p>\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p><strong>LISTEN TO: <\/strong><a href=\"https:\/\/www.commercialsearch.com\/news\/fti-experts-hub-the-ins-and-outs-behind-a-bifurcated-office-market\/\"><span class=\"fl-heading-text\">FTI Experts\u2019 Hub: The Ins and Outs of the Bifurcated Office Market<\/span><\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p>Out of its old main office, Selfhelp provided offices for NYC Adult Protective Services, the NYC Licensed Home Care Services Agency and the Community Guardian Program. Additionally, the space hosted offices from the organization\u2019s Holocaust Survivor services program, virtual senior center and case management services, alongside a health aide training program and an intergenerational theater program for Holocaust survivors.<\/p>\n\n\n\n<p>Other services provided by the organization include affordable and senior housing development, protective services, home health care, social programs, financial management, Holocaust education and care for Alzheimer\u2019s\u2019 patients. In total, the organization serves more than 25,000 seniors.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a2d9297e2190&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignleft size-large is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"520\" height=\"680\" data-attachment-id=\"1004703057\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/nyc-nonprofit-secures-new-midtown-hq-lease\/1180-avenue-of-the-americas-entrance\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/1180-Avenue-of-the-Americas-entrance.png\" data-orig-size=\"520,680\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"1180-Avenue-of-the-Americas-entrance\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/1180-Avenue-of-the-Americas-entrance.png?w=520\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/1180-Avenue-of-the-Americas-entrance.png?w=520\" alt=\"\" class=\"wp-image-1004703057\" style=\"object-fit:cover;width:400px;height:500px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/1180-Avenue-of-the-Americas-entrance.png 520w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/1180-Avenue-of-the-Americas-entrance.png?resize=229,300 229w\" sizes=\"auto, (max-width: 520px) 100vw, 520px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">The entrance to 1180 Avenue of the Americas. <em>Image courtesy of Transwestern<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>According to CommercialEdge information, 1180 Avenue of the Americas was built in 1963, and underwent a cosmetic renovation in 1997. The 23-story, 399,000-square-foot building has floorplates ranging from 10,000 to 20,000 square feet, with 20,600 square feet of retail space on its ground floor. Selfhelp\u2019s new neighbors include capital markets and law firms, as well as communications companies.<\/p>\n\n\n\n<p>Amenities around Selfhelp\u2019s new digs include a landscaped terrace on its top floor, a lounge, as well as private event and conference spaces. In its immediate vicinity, the building gives way to many of Midtown\u2019s retail, dining and entertainment offerings, with Times Square located a quarter mile to the west, while Bryant Park lies roughly equidistant to the south.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-midtown-s-leasing-momentum\">Midtown\u2019s leasing momentum<\/h2>\n\n\n\n<p>CommercialEdge\u2019s latest <a href=\"https:\/\/www.commercialsearch.com\/news\/navigating-office-sector-transitions-in-2024\/\">office market report<\/a> revealed that as of January, Manhattan\u2019s vacancy rate of 16.5 percent was 150 basis points below the national average, while its asking average rent of $68.27 per square foot remained the highest in the nation.<\/p>\n\n\n\n<p>Midtown in particular continues to attract many big-name tenants. Just last week, China Merchants Bank inked a 15-year extension for 43,060 square feet of space at <a href=\"https:\/\/www.commercialsearch.com\/news\/china-merchants-bank-keeps-its-midtown-office-deposit\/\">535 Madison Ave<\/a>. One week prior, Burlington Stores Inc. expanded its lease at <a href=\"https:\/\/www.commercialsearch.com\/news\/empire-state-realty-secures-nyc-lease-expansion\/\">1400 Broadway<\/a> by 67,865 square feet, occupying a total of 170,763 square feet across five floors.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Transwestern and OPEN Impact Real Estate represented the organization in the deal. <\/p>\n","protected":false},"author":3012,"featured_media":1004703125,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,1600,21742,10,21747],"tags":[52329,52330,34258,51588,52328,33313],"class_list":["post-1004703053","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-new-york","category-latest","category-northeast","category-office","tag-benesch","tag-method-design","tag-northwood-investors","tag-open-impact-real-estate","tag-selfhelp-community-services","tag-transwestern"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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