The final steel beam was ceremoniously lifted into place for the addition on 150 Fifth Avenue in the Flatiron District, in an event attended by leaders of L&L Holding Company and OC Development Management (OCDM). More than 100 construction workers, designers, and engineers were also present for the dedication and signed their names on the beam. The expansion features a two-story, 35,000 square-foot rooftop structure, part of a multi-million-dollar renovation and modernization of the landmarked 11-story building. The entire property will become the new home for Mastercard. STUDIOS Architecture is the design firm behind the project.
The 212,500 square-foot structure is located along Fifth Avenue between West 19th and West 20th Street in the heart of the Flatiron District.
“Working with OCDM and STUDIOS, we set out to reinvent 150 Fifth Avenue as a center for innovation and creativity in the heart of the Flatiron District,” said David Levinson, chairman and CEO at L&L Holding Company. “When we laid out our ambitious plans for this redevelopment, we envisioned it as the perfect opportunity for a forward-thinking company to fully occupy, program, and brand a boutique Midtown South property. We are thrilled that Mastercard shared that vision and chose our building as the new hub for its growing digital and technology group.”
“Working with L&L and an incredible team of architects, engineers, and contractors, we are creating the most modern and collaborative office environment possible while also preserving and enhancing 150 Fifth Avenue’s stature as a 19th century landmark,” said Jonathan Ninnis, president and principal at OCDM.
Interiors for the upper levels will have light-filled, column-free office space. Multiple landscaped rooftop terraces for Mastercard employees will be among the office amenities offered. A redesign of the lobby, installation of modernized elevator and mechanical systems, and the removal of multiple interior walls throughout the inside are also part of the project schedule.
Work is expected to finish at the end of the year.