Aurora Capital and Jeff Sutton’s Wharton Properties have completed the renovation of 511 Fifth Avenue, a historic 18-story Beaux Arts building located steps from Grand Central Terminal in the heart of Midtown, Manhattan. This extensive redevelopment aims to align the property with modern office space standards while preserving its historic essence. Ownership has enlisted JLL as the exclusive leasing agent for the property, which is located at the southeast corner of Fifth Avenue and East 43rd Street.
The limestone-clad building, designed and constructed in 1915 by York & Sawyer for the Postal Life Insurance Company, later housed the Columbia Bank and Guaranty Trust Company before Israel Discount Bank (IDB) leased it as its New York headquarters in the early 1960s. Following IDB’s departure in 2021, the renovation initiative was launched, with BKSK Architects in charge of the redesign.
Sample office space at 511 Fifth Avenue, courtesy of Aurora Capital/Wharton Properties
The 160,000-square-foot property has undergone a top-to-bottom redevelopment, with the objective of delivering a contemporary workspace within a historic facade. The highlight is the 18th-floor penthouse, which offers double-height ceilings and a mezzanine with views stretching from Central Park to the World Trade Center. Additionally, a 9,000-square-foot amenity space has been added to the 15th floor, featuring a juice bar and lounge, fitness center, and a locker room with showers.
Sample office space at 511 Fifth Avenue, courtesy of Aurora Capital/Wharton Properties
Other additions include renovated lobbies, five new elevators, and a full amenity package to cater to modern tenant demands. Prebuilt full-floor suites offer separate finish packages including conference rooms, pantries, common areas, and offices, ensuring a turnkey solution for prospective tenants.
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Nice to hear of a historic building renovated and upgraded for today’s “technology”, without being demolished and replaced with a generic blue glass box, that nobody would even turn their heads to look at while walking! 🤗
A beautiful historic building preserved for now, but I’m surprised it wasn’t turned into residential units.