Neuropathology Clinic Secures Hell's Kitchen Office Space

HELL'S KITCHEN, NY — Office and retail lease extensions are hard to come by these days in New York City, but a medical office that specializes in studying and testing for diseases in nervous system tissue will hold on to its Midtown space for five more years following an extension.

Therapath, a neuropathology clinic founded in 2004, will lease out the entire seventh floor at 545 W. 45th St., an office building located between 10th and 11th avenues, until at least 2024, real estate agents from the firm Lee & Associates said. The firm's Dennis Someck, Aidan Velle and Justin Myers negotiated the five-year lease extension on behalf of Therapath.

Someck attributed Therapath's desire to stay in Hell's Kitchen due to its proximity to the newly-opened Hudson Yards neighborhood. The area is expected to draw hundreds of thousands of high-income residents to the western portion of Midtown, not to mention the scores of tourists and office workers that will visit the area each day.

“This neighborhood has become even more attractive to tenants after the recent opening of Hudson Yards, just a few blocks to the south," Someck said in a statement. "Companies are continuing to migrate west, whether that’s to Hudson Yards itself or to the general area. This building in particular houses a diverse mix of medical, nonprofit, and creative tenants."

The lease extension comes with a price of $45 per square foot for the 13,395-square-foot office space, real estate agents announced. The new lease's term begins in October 2019. Therepath has occupied the office space for 10 years.