Hospital Renews, Expands LI Office

LAKE SUCCESS, NY-St. Mary’s Healthcare System for Children has signed a 15-year lease for 25,580 square feet at 5 Dakota Dr. here. The renewal and expansion brings the executive and administrative offices of the 139-year-old children’s hospital under one roof.

Robert Kuppersmith, director with Cushman & Wakefield’s Long Island office, tells GlobeSt.com that asking rents at 5 Dakota are $33 per square foot. Kuppersmith represented St. Mary’s along with C&W executive director David Leviton and associate Marisa Karmitz. Property owner We’re Associates Co. was represented internally by Andrew Newman. The property–5 Dakota–is part of the 10-building Lake Success Quadrangle campus.

Kuppersmith tells GlobeSt.com that 5 Dakota’s central location to the flagship St. Mary’s hospital in Bayside, Queens was a deciding factor for renewing in place, although other Nassau County locations were considered. Additionally, the property recently underwent an upgrade, with updated corridors and lobbies.

Last May, the C&W team arranged a 6,000-square-foot renewal and expansion for St. Mary’s at Sherwood 510′s 510 Broadhollow Rd. in Melville, NY, where the hospital has regional offices for its home and community programs. The lease runs through 2018.

Founded in 1870 in Manhattan, St. Mary’s moved to its nine-acre Bayside campus in 1951. St. Mary’s provides pediatric post-acute care for children with special needs, serving more than 4,000 children daily throughout the New York metro area.