New York, NY

CBRE Arranges Office Lease for Booming Start-Up Stellar Health at 215 Park Avenue South

Rapidly Growing Healthcare Technology Company Expands Operations in New York City

26 Oct 2021

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In a transaction arranged by CBRE, Stellar Health, a healthcare technology company that helps health systems, provider networks and practicing physicians improve quality of care and financial performance by offering value-based payment incentives through their cloud-native platform, has inked a 17,255-sq.-ft. sublease at 215 Park Avenue South. The lease announcement follows the growing company’s recent $60 million Series B funding dedicated to investing in its team, as well as advancing product development, engineering and operations initiatives.

Growing headcount is one way that Stellar Health plans to use the funds. The company is looking to fill 40 open positions across analytics, engineering, product, operations, finance, human resources, and growth and market development functions by the end of the year, with the goal of doubling employees in 2022. “At this time of rapid growth and expansion, we knew we needed a larger, more modern space to attract top talent,” said Michael Meng, Co-Founder and CEO of Stellar Health. Available career opportunities can be found on Stellar’s website at www.stellar.health/careers.

The CBRE team of Ben Friedland, Gary Davies and Taylor Scheinman represented Stellar Health in the sublease negotiations. “We are excited that we were able to assist Stellar Health to fulfill its growing office space requirements,” said Friedland. “The health-tech company has been growing rapidly since its inception and required the additional space to meet its expansion needs.”

Previously occupying 2,143 sq. ft. of space at 127 West 26th Street, Stellar Health will house its corporate office on the entire 10th floor of 215 Park Avenue South, a 20-story, boutique, Class A office building owned by SL Green.

Stellar Health is currently operating in a hybrid work environment and will be supporting both in-office and remote work, giving employees the flexibility to come into the office as they wish. “We’re excited to utilize the office as we shape our company culture to be even more collaborative, compassionate, and creative,” said Meng.

Designed by Maynicke & Franke, who at the time of its construction in 1914 were considered the pioneers of modern loft buildings in New York City, 215 Park Avenue South is located at the corner of 18th Street and Park Avenue South. It is ideally situated between Union Square Park and Gramercy Park, an area surrounded by some of Manhattan’s top restaurants, including Eleven Madison Park and Gramercy Tavern, and trendy boutique shops. Original bay windows on the upper floors offer dramatic views, while 215 Park Avenue South’s recent renovation includes an updated lobby, new elevators, new corridors, restrooms, and an ENERGY STAR label.



About Stellar Health
Stellar Health ("Stellar") is a healthcare technology company focused on enabling success across the value-based care (“VBC”) continuum by bridging the incentive gap between providers and payors. The Stellar solution is the first point-of-care, cloud-based platform that helps primary care providers continually engage with their patients by providing them real-time information and tangible action-based incentives for improving quality of care. With Stellar, providers can achieve a range of VBC goals, like improving quality scores and optimizing the patient care journey through transitions of care and high-value referrals, all with the objective of improving patient health. For more information on Stellar Health, visit www.stellar.health.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.