February 7, 2019
The Young Adult Institute, one of the region’s largest not-for-profits, has signed an agreement for a 30-year leasehold condominium interest covering 75,353 square feet at SL Green Realty Corporation’s 220 E. 42nd St., commonly known as the News Building. YAI’s space at the 1.2-million-square-foot office property will include a private, employee-only entrance on 41st Street.
“YAI is an exceptional organization and we’re delighted to welcome them to the News Building,” said SL Greeen EVP Steven Durels. “The building is now over 96% leased with this transaction.”
YAI, which offers support and services for children and adults with intellectual and developmental disabilities, was represented by a JLL team of Matthew Astrachan, Joseph Messina, Simon Landmann and Zachary Azus. SL Green was represented in-house by Lawrence Swiger, along with Cushman & Wakefield’s Tara Stacom, Barry Zeller, Justin Royce, Connor Daugstrup and Pierce Hance.
For comments, questions or concerns, please contact Paul Bubny