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.
Cushman & Wakefield
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.
Construction is climbing at 799 Broadway, a 12-story, 182-foot-tall building at the corner of Broadway and East 11th Street in Greenwich Village. Designed by Perkins + Will and developed by Columbia Property Trust, the project recently reached the halfway mark and will contain around 180,00 square feet of office space marketed by Cushman & Wakefield.
Work is nearing completion at 25 Park Row, a 702-foot-tall mixed-use skyscraper in the Financial District. Designed by COOKFOX Architects and developed by L+M Development Partners along with the family behind J&R Music World, the 50-story building will contain 110 residences marketed by Corcoran Sunshine Marketing Group, as well as commercial space handled by Cushman & Wakefield.
Construction has wrapped up on 80 East 10th Street, a 26,000-square-foot mixed-use building in the East Village. The ten-story mixed-use building is designed by NAVA Companies and developed by Parametric Development Group. Brown Harris Stevens Development Marketing is responsible for sales of the 12 condominiums, which include a five-bedroom spread. Each home averages 2,000 square feet and range from $4.15 to $8.25 million. Cushman & Wakefield is marketing the ground-floor retail space, which has yet to find a tenant.