Wexler Healthcare Properties team signed by William Macklowe Company as exclusive leasing agent for medical building at 156 William Street

The Wexler Healthcare Properties Team at The Corcoran Group has been selected by William Macklowe Company as exclusive leasing agent for the company's recent acquisition at 156 William Street. Located directly across from New York-Presbyterian/Lower Manhattan Hospital and close to all major subway lines including the new transit hub at Fulton Center, 156 William Street is a commercial property boasting 250,000 s/f of space with entrances on William, Ann and Beekman Streets. The building was purchased by William Macklowe Company in December 2013 with the intention of repurposing the asset to a dedicated medical office building. Approximately 124,000 s/f of prime medical space will be available for lease in June of 2014 on the second, third, fourth and sixth floors of the building. Retail space on the ground floor is also available. A major capital improvement program will commence which will address the specific needs of medical tenants including but not limited to updating vital building systems, installation of new systems, and a renovation of the building's lobby. "156 William Street is a truly unique opportunity for healthcare providers," said Paul Wexler of The Wexler Healthcare Properties Team. "The location is ideal for serving the growing downtown business and residential population and is also only a few stops from both Brooklyn and New Jersey. The large floor plates allow tenants tremendous flexibility and efficiency. With entrances on three separate streets and several banks of elevators, the opportunity exists to create several individual entrances which can provide tenants with their own separate identity." "With only one hospital below 14th Street and a dearth of medical space in general, we saw an opportunity in the downtown market to serve this need," said William Macklowe. "By turning this property into a total medical facility, we are creating a convenient center for medical care for the residents of lower Manhattan in close proximity to their home and for the neighborhood workforce as well."