RYE, NY-The Westchester Medical Group has signed a long-term lease with the new ownership of the former Lillian Vernon headquarters building here and will occupy the entire 65,000-sf building later this year. The 20-year lease transaction was made in conjunction with the $9.6-million acquisition of One Theall Rd. in Rye by a partnership of Sirius LLC of New York City and Howard Blitman PE, who is president of Mount Kisco-based Blitman Building Corp.

The two-story building was built in 1989 and occupied by Melville Corp. for a short time. The firm later sublet the property to Lillian Vernon Corp., which maintained the building as its corporate headquarters until it relocated from the property last year to Downtown White Plains. The property has been vacant since February 2005.

Cushman & Wakefield’s Gregory Frisoli, senior director, Glenn Walsh, senior director and Larry Ruggieri, associate director, along with Patrick Smith of the Staubach Co. represented the seller. Paul Jacobs of CB Richard Ellis represented the purchaser.

Jesse Krasnow, president of Sirius LLC, says the firm initially got involved in the property by representing the Westchester Medical Group in a possible lease. He says that it turned out that pursuing a purchase agreement for the entire building was easier than negotiating the lease deal. Among Sirius’ holdings include an ownership interest in the Ansonia building in New York City as well as the Lockwood Medical Campus in New Rochelle.

“Westchester Medical Group’s interest in occupying the building, coupled with the buyer’s ability to procure the required approvals for the tenant’s intended use, allowed the seller to achieve the highest sale price possible,” Frisoli notes. Dr. Simeon Schwartz, president of the Westchester Medical Group, says the firm plans to open its new Rye office by November 2006. The health services company is headquartered at 210 Westchester Ave. in White Plains and maintains a total of seven offices in Westchester County.

Dr. Schwartz terms the opening of the new Rye office as an expansion and consolidation for the firm. In conjunction with the opening of the new office, the firm will be shutting its two offices in Mamaroneck, a location in Rye Brook and an existing office in Rye.

The new facility will feature an Urgent Care Center, laboratory, and X-ray departments, diagnostic services as well as primary and specialty care services. The new office is intended to fill a void by the closure of the New York United Hospital Medical Center in Port Chester last year, Dr. Schwartz says. The Westchester Medical Group has 85 affiliated physicians and expects to have about 100 by the end of the summer, he adds.

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