Nonprofit Inks Big LIC Lease

Published on Jul 21, 2014 | posted by Carolina Bergara

Non-profit child care and foster agency the New York Foundling will relocate part of its staff to the entire fifth floor of 33-00 Northern Boulevard in Long Island City on a 15-year, 35,000-square-foot lease, Crain’s New York Business and the Wall Street Journal reported this morning.

Josh Kleinberg of Pinnacle Realty negotiated the deal on behalf of the landlord, while John Reinertsen and Tim Sheehan of CBRE represented the nonprofit, which will maintain its Manhattan headquarters but move several of its programs from the West Village location to the 450,000-square-foot Long Island City property that the joint owners bought in December 2012 for $84.5 million.

“When it’s someone that does so much good, it’s that much more satisfying,” Mr. Kleinberg said. “Doing a deal with a 100-plus-year-old nonprofit and at the same time taking care of my responsibilities to ownership is kind of a double reward.”

Read more at Commercial Observer