Private equity firm Snow Phipps is the latest company to join 545 Madison Avenue, a newly renovated office tower in Midtown, Manhattan. Marx Realty, the property owner, worked with Studios Architecture to complete the building’s transformation, which focused on elevating the hospitality aspects of the commercial property.
Cushman & Wakefield
The first property at M Station, a new commercial complex in Morristown, New Jersey, is now topped out. Located in the heart of the city’s downtown area, the building will debut as M Station East and house a mix of Class-A office space and retail suites.
Exterior work is now fully complete at 25 Park Row, a 702-foot-tall mixed-use skyscraper in the Financial District, and what had been an active project on YIMBY’s annual December countdown list the past few years. Designed by COOKFOX Architects and developed by J&R Music World’s Friedman family and L+M Development Partners, the 50-story reinforced concrete structure contains a total of 110 residences. YIMBY recently spoke with L+M’s Tell Metzger about the rise of the new tower, the evolution of the surrounding neighborhood, and the changing styles of contemporary residential high-rise design.
Marx Realty has announced an extensive renovation project at 545 Madison Avenue to modernize the Midtown office building. The scope of work includes an overhaul of the lobby, creation of pre-built tenant suites on the third and 14th floors, and the construction of 5,000 square feet of new amenity spaces. According to representatives from the company, total construction costs for the project hover around $24 million and represent the growing demand for offices with hospitality-oriented amenities.
The development team behind a waterfront logistics center in The Bronx’s Schuylerville neighborhood has secured $305 million in financing to fund construction. The New York City-based developers include Innovo Property Group and Square Mile Capital Management, who worked with Bank OZK and the Structured Finance platform of EverWest Real Estate Investors to structure the deal.