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A home health care agency inked a deal to move its headquarters to 1341 Flatbush Avenue in Brooklyn, Commercial Observer has learned.
Regency Health Care signed a 10-year lease for 7,700 square feet on the ground floor of the seven-story building in Flatbush, Brooklyn, according to a source with knowledge of the deal.
Asking rent was $60 per square foot, the source said.
Regency provides home health services to seniors and people with disabilities in New York City and Westchester County. It currently has four locations across the city, including one at 728 Fifth Avenue in Greenwood Heights, Brooklyn, as well as outposts in Queens and the Bronx, according to its website.
The company plans to relocate its Brooklyn location 3.5 miles to the Flatbush Avenue building, which will become its new headquarters, the source said. The exact size of Regency’s office in Greenwood Heights is unclear, but the company will expand its footprint with the move, according to the source.
Home health aides are in high demand in New York, and the need for home health care services among the city’s aging population will outpace the size of the sector’s workforce in the next decade, according to a report published last year by the Fiscal Policy Institute.
Tri State Commercial Realty’s Dov Bleich and Duvy Biller arranged the deal for Regency while Fredy Halabi, also of Tri State, represented the landlord, Samuel Landau.
Bleich, Biller and Halabi declined to comment.
Abigail Nehring can be reached at anehring@commercialobserver.com.
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