NEW YORK CITY– In a two-part transaction, Colliers International has arranged the relocation of The Albert Ellis Institute — a world-renowned non-profit psychotherapy training institute — from the Upper East Side to Midtown South.
In the first transaction, Colliers International arranged for the sale of The Albert Ellis Institute headquarters — a six-story townhouse at 45 East 65th Street — to a private buyer. The building is located between Madison Avenue and Park Avenue.
Colliers International simultaneously arranged an 8,000-square-foot sublease on behalf of The Albert Ellis Institute at 145 East 32nd Street, in Midtown South. The nonprofit organization sublet the entire ninth floor from Ameripath, a subsidiary of Quest Diagnostics.
“Albert Ellis is a prominent nonprofit organization that was presented with an opportunity to monetize its real estate while moving to a more centrally located base of operations,” said Steve Chasanoff, Executive Managing Director with Colliers International, who arranged both the sale and sublease on behalf of Albert Ellis. “The organization also wanted to consolidate its entire team onto one floor, with a more efficient layout and use of space.”
Located between Lexington Avenue and Third Avenue, 145 East 32nd Street is a well-known 102,000-square-foot medical office building with neo-gothic architecture. The property is owned by Eric and Marty Meyer, Principals of Colliers International Tri-State.
Established in 1959, The Albert Ellis Institute is committed to promoting emotional well-being through the research and application of effective, short-term therapy with long-term results. The institute conducts research and provides continuing education for mental health professionals, self-help workshops for the public and affordable psychotherapy and psychological assessment.
Keith Cody, of CBRE, represented Ameripath in the sublease.
Colliers International is a global leader in commercial real estate services, with over 13,500 professionals operating out of more than 482 offices in 62 countries. A subsidiary of FirstService Corporation, Colliers International delivers a full range of services to real estate users, owners and investors worldwide, including global corporate solutions, brokerage, property and asset management, hotel investment sales and consulting, valuation, consulting and appraisal services, mortgage banking and insightful research. The latest annual survey by the Lipsey Company ranked Colliers International as the second-most recognized commercial real estate firm in the world.