Carnegie Hill Endo, LLC (CHE), a group of 15 gastroenterologists, needed to find a 12,000-15,000 square foot space on the Upper East Side for an ambulatory surgical center (ASC). They had been working exclusively with another brokerage firm for 8 months but were unable to locate a satisfactory space that met all of their criteria. They were going to settle for an overpriced basement space that presented numerous complications as well as a rigid owner. The difficulty was compounded because of their particularly unique demands: they needed at least 9,000 sf to be on one floor, with a minimum 10 foot ceiling, 20 foot on center column spacing as well as roof/terrace access for generators and other equipment.
We were subsequently hired to solve this problem. As the UES does not have a large portfolio of available space and an ASC is not a conventional use of space which most landlords will accept, it was necessary to walk every street in the desired locations as well as contact every owner who had a floor plate large enough to accommodate this requirement, but in a budget range that did not reflect retail prices.
We were able to locate a recently-built property that not only offered new construction and mechanical systems, but, by going one block north of 96th Street, allowed CHE to get a ground floor location with excellent visibility and street access, at office rents. CHE was also able to achieve growth potential, an excellent concession package as well as future options at fixed numbers, with an owner who was working hand in hand with them to make their construction process as smooth and simple as possible. The location is 2 blocks from Mount Sinai Hospital, one block from a subway, and on a street that allows easy access to the FDR Drive next to a Central Park crossing, CHE is able to service all their patients as well as the doctors who are affiliated with different hospitals in the area.
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