JLL has arranged a transaction to expand 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. to relocate to the newly developed Midtown office tower housing the Edward J. Minskoff and Vornado Realty Trust.
The non-profit NAC provides innovative services to support birth, foster and adoptive families who primarily care for medically complex children. JLL arranged for NAC a 30 year leasehold condominium covering the entire 5th, 6th and 9th floors of the property. The move will allow NAC to enhance 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 well beyond medical needs in city hospitals. Most have lived in the hospital since birth simply because their families could not care for them at home. NAC not only helped these children leave the hospital and go home for good, but also transformed their life paths by enabling some to go to college, find jobs, and live in their own homes.
Today, NAC continues to provide innovative solutions to ensure children with significant medical and mental health needs always have a loving and caring family and a home to call their own. The new headquarters at 825 Seventh Ave. will house the continuum of NAC services for children’s physical, social, educational, recreational, medical and mental health needs.
The 196,616 square foot lot at the corner of 53rd Street and Seventh Avenue was recently redeveloped with a new lobby, facade and infrastructure. The NAC areas will include an exclusive roof terrace on the 9th floor. Other tenants in the building include YAI’s International Academy of Hope (iHOPE) — a school that provides educational services to students with brain-based disorders — which last year occupied 76,861 square feet on Seventh Ave. 825 in a shop also arranged by JLL.
“For 40 years, NAC has been at the forefront of our approach to child well-being and the support we provide to children with disabilities in our communities,” said NAC Founder and Chief Executive Arlene Goldsmith. “Our move to this magnificent new headquarters will allow us to demonstrate how we deliver specialized, innovative programs that enable children with disabilities to live their fullest and most rewarding lives.”
NAC was represented by Matthew Astrakhan, Vice-Chairman; Ellen Herman, Executive Vice President, and Hale King, Vice President, at JLL. 825 Seventh Avenue was represented by Edward Riguardi, vice president of leasing at Vornado Realty Trust; Jeffrey Sussman, Executive Vice President, at Edward J. Minskoff Equities, and John D. Ryan III, Principal, at Avison Young.
“We are delighted to have worked with NAC to find prime new space operated by world-class owners who have redeveloped 825 Seventh to meet the unique needs of this industry-leading agency,” Astrakhan said. “NAC will now have the canvas it needs to continue its important work in a collaborative and engaging environment.”
Attorneys for the building were Trevor Adler, Partner, and Ida Phair, Associate, of Stroock & Stroock & Lavan LLP; Attorneys for NAC were Adam Endick, partner, and Genta Stafaj, associate, of Vinson & Elkins LLP.
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