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News release

NEW YORK, NY

JLL Secures 32,000 SF for Quartet Health at 114 West 41st Street in New York City

Healthcare technology company to occupy two full floors at Class A, 350,000-SF office building


NEW YORK, May 10, 2016 — JLL has completed a new, direct transaction for Quartet Health Inc. at 114 West 41st Street in Midtown Manhattan with building owner Equity Office Management LLC. The healthcare technology company signed a long-term lease for 32,000 square feet, comprising the entire fourth floor and fifth floors at the Class A, 350,000-square-foot commercial office building.

The tenant was represented by Jason Schwartzenberg, executive vice president, and Daniel Santagata, vice president, both with JLL. Building owner Equity Office was represented by Erik Harris, senior, managing director, and Scott Klau, executive vice president, with Newmark Grubb Knight Frank.

Previously located in 3,500 square feet of space at 45 West 34th Street, Quartet Health is experiencing rapid growth. The new lease at 114 West 41st Street will enable the company to immediately occupy the fourth floor while the fifth floor is built out. Quartet Health will in turn occupy that floor once complete while the fourth floor is built out.

“Equity Office worked with us to create a structure that enables Quartet Health to accommodate its rapid growth in a highly efficient manner,” said Schwartzenberg. “The occupancy schedule at 114 West 41st Street matches the needs of Quartet’s personnel growth, which is expected to increase significantly by the end of 2016.”

Located between Sixth Avenue and Broadway, just steps from Bryant Park, 114 West 41st Street is a 22-story office tower. This year, the property underwent a complete repositioning. Details include a dual entrance lobby with high-end finishes designed by Moed De Armas & Shannon, natural light, 12-foot ceiling heights, and a tenant amenity center featuring a collaborative pantry, media lounge and billiards room. The office building is located in close proximity to Bryant Park, Grand Central Terminal, Penn Station and Port Authority Terminal.

“As Bryant Park continues to emerge as a robust tech corridor, Quartet Health is a welcome addition to our tenant roster,” said Zachary Freeman, vice president of leasing for Equity Office. “Reputable tech businesses like Quartet Health are migrating to the neighborhood and see the added value that comes with offering these types of amenities.” 

JLL is a leader in the New York tri-state commercial real estate market, with more than 2,300 of the most recognized industry experts offering brokerage, capital markets, property/facilities management, consulting, and project and development services. In 2015, the New York tri-state team completed approximately 32.6 million square feet of lease transactions; arranged investment sales, notes, debt and equity transactions valued at more than $8.2 billion; managed projects valued at $7.8 billion; and oversaw a property management, facilities management and agency leasing portfolio exceeding 141 million square feet.

About Equity Office
With an impressive portfolio encompassing approximately 50 million square feet of Class A office space, Equity Office is one of the largest and most reputable commercial real estate firms in the nation. An affiliate of Blackstone Group, the premier global investment and advisory firm, Equity Office focuses on meeting current trends and strategically addressing the changing needs of companies in superior locations throughout the country. Equity Office boasts five buildings and 2.5 million square feet of office space in NYC including Park Avenue Tower in Midtown Manhattan. For more information, visit equityoffice.com.

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6.0 billion, JLL has more than 280 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $58.3 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.