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JLL Arranges 60,000 Square Foot Headquarters Lease for Child Care Group at 825 Seventh Avenue

JLL arranged a transaction to move New Alternatives for Children (NAC), a group that helps some of the city’s most vulnerable children, to 60,000 square feet at 825 Seventh Ave., the redeveloped downtown office tower owned in joint venture by Edward J. Minskoff and Vornado Realty Trust.

The non-profit NAC provides innovative services in support of birth, foster and adoptive families who primarily care for medically complex children. JLL arranged a 30-year leasehold condominium interest for NAC on all of the 5th, 6th and 9th floors of the property. This decision will allow NAC to improve the services it provides to families and children with significant medical and mental health needs.

NAC was founded in 1982 by a group that discovered 100 children living in city hospitals far beyond medical need. Most had been living in hospital since birth simply because their families were unable to care for them at home. NAC not only helped these children leave the hospital and return home for good, but changed the trajectory of their lives, enabling some to go to college, find jobs and live in their clean house.

Today, NAC continues to provide innovative solutions to ensure children with significant medical and mental health needs always have loving, caring families and homes. The new headquarters space at 825 Seventh Ave. will host the NAC’s continuum of services for the physical, social, educational, recreational, medical and mental health needs of children.

Located at the corner of 53rd Street and Seventh Avenue, the 196,616 square foot property was recently remodeled with a new lobby, facade and infrastructure. The NAC space will include an exclusive recessed 9th floor rooftop terrace. Other tenants in the building include YAI’s International Hope Academy (iHOPE) – a school that provides educational services to students with brain disorders – which has leased 76,861 square feet at 825 Seventh Ave. last year under a deal also arranged by JLL.

“For 40 years, NAC has been leading the way with its approach to child welfare and the support we provide to children with disabilities in our communities,” said NAC Founder and CEO Arlene Goldsmith. “Our move to this beautiful new headquarters will allow us to showcase how we provide specialized and innovative programs that enable children with disabilities to lead their fullest and most rewarding lives.

The NAC was represented by Matthew Astrachan, Vice President; Ellen Herman, Executive Vice President, and Hale King, Vice President, with JLL. 825 Seventh Avenue was represented by Edward Riguardi, vice president of leasing, with Vornado Realty Trust; Jeffrey Sussman, Executive Vice President, Edward J. Minskoff Equities, and John D. Ryan III, Director, Avison Young.

“We are thrilled to have worked with NAC to source new superior space operated by a world-class property that has redeveloped 825 Seventh to meet the unique requirements of this industry-leading agency,” said Astrachan. “The NAC will now have the canvas it needs to continue its important work in a collaborative and engaging environment. »

The building attorneys were Trevor Adler, partner, and Ida Phair, partner, at Stroock & Stroock & Lavan LLP; NAC’s attorneys were Adam Endick, Partner and Genta Stafaj, Partner, of Vinson & Elkins LLP.

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Rodney N.

The author Rodney N.