Office

Glass Installation Wraps Up On 52-Story 10 Hudson Yards Office Tower

6:00 am on February 22, 2016 By Reid Wilson

YIMBY last reported on 10 Hudson Yards – the 52-story, 1.8-million square-foot office tower at the corner of Tenth Avenue and West 30th Street – last November when the structure officially topped out. Now, new photos taken by Tectonic show that glass installation is nearing completion and close to reaching the structure’s 895-foot-tall pinnacle. Earlier this month, office space in the building was roughly 100 percent leased, as Real Estate Weekly reported. Coach Inc. will occupy floors nine through 23 and part of 24, VaynerMedia will take the rest of floors 24 and 25, Intersection and Sidewalk Labs will take floor 26 and part of floor 27, L’Oréal USA will occupy the rest of 27 and floors 28 through 36, the Boston Consulting Group is leasing floors 42 through 47, and finally SAP is taking floors 48 through 52. Related Companies and Oxford Properties Group are the developers and Kohn Pedersen Fox is the design architect. Occupancy is expected in the spring.

41-Story, 670,000-Square-Foot Office Tower At 425 Park Avenue Lands Anchor Tenant, Midtown

10:00 am on February 19, 2016 By Reid Wilson

In late 2014, YIMBY brought you new renderings of the Foster + Partners-designed 41-story, 897-foot-tall office tower under development at 425 Park Avenue, between East 55th and 56th streets in Midtown, and now project has secured its anchor tenant with a city-wide record-breaking lease. According to Real Estate Weekly, Chicago-based Citadel will take roughly 200,000 square feet in the 670,000-square-foot building, with rents as high as $300 per square foot on the tower’s penthouse floors. The project, being developed byL&L Holding and GreenOak Real Estate, is aiming for L.E.E.D. Gold and WELL certifications. This past summer, the developers secured a $556 million construction loan and the site’s 32-story office predecessor has since been significantly demolished. The lower portion of the existing structure will be utilized in the new building and completion is expected in late 2018.

363 Lafayette Street, image via Google Maps

Ironstate Plans an Office Building at 363 Lafayette Street in NoHo

7:00 am on February 19, 2016 By Rebecca Baird-Remba

Ironstate shelled out $150 million last year for a 49-year lease at 363 Lafayette Street in NoHo, right in the heart of New York University’s territory. Now, they’re planning a nine-story office building on the site between Great Jones and Bond streets.

Foundation Work Underway For Six-Story, 40-Unit Medical Office Building At 5521 Eighth Avenue, Sunset Park

2:00 pm on February 18, 2016 By Reid Wilson

In October of 2014, YIMBY revealed renderings of the planned six-story, 40-unit multi-use commercial building at 5521 Eighth Avenue, on the corner of 56th Street in Sunset Park, located seven blocks north of the N train’s stop on Eighth Avenue. The Brooklyn Daily Eagle reports foundation work is now underway on the 81,569 square-foot project, which will include 36 medical offices and four retail units. The retail space will measure 13,003 square feet in total and will span the ground floor and a mezzanine level. The medical offices will begin on the second floor and should average 1,180 square feet apiece. Flushing-based Andy Wong filed documents with the Attorney General’s office in January, which indicated the project is being valued at $76.3 million. Raymond Chan is designing and completion in 2017 seems likely.

One Penn Plaza as seen from the southwest. Photo by Evan Bindelglass.

One Penn Plaza, Two Penn Plaza To Get Major Renovations, Interconnection, Midtown

10:00 am on February 18, 2016 By Reid Wilson

Following the state’s plan to upgrade and expand Pennsylvania Station, Vornado Realty Trust has announced plans to renovate and interconnect 57-story One Penn Plaza and 29-story Two Penn Plaza, completed in 1972 and 1968 respectively, into a massive 4.2-million-square-foot office complex. The two buildings are located directly adjacent to and above Penn Station, in Midtown, between West 31st and 34th streets and Seventh and Eighth avenues. According to The Real Deal, the renovation project would improve desirability and tenant mobility and allow for new retail and amenity opportunities. Two Penn Plaza would get a new floor-to-ceiling glass façade and One Penn Plaza would receive “a more conventional upgrade.” Start and completion dates have not been disclosed, and a designer has not yet been revealed.

Reveal For 26-story, 90,000-Square-Foot Office Building At 106 West 56th Street, Midtown

6:00 am on February 18, 2016 By Reid Wilson

Earlier this week, news broke that Savanna and Hong Kong-based Atom Assets were planning a 26-story, 90,000 square-foot office building at 106 West 56th Street, in Midtown, and now Real Estate Weekly has a rendering of the project. As reported earlier, the new building will feature boutique office space geared towards smaller business tenants. The Perkins Eastman-designed project will feature multiple terraced setbacks and floor plates of varying sizes, ranging from 5,000 square feet on the lower levels to 2,000 square feet towards the top. The developers received an acquisition loan from United Overseas Bank to purchase the existing nine-story office building. Demolition will begin in early 2017 and completion is expected in 2019.

Four-Story, Four-Unit Mixed-Use Project Planned At 45-08 Junction Boulevard, Corona

2:00 pm on February 17, 2016 By Reid Wilson

Guo H Hu, doing business as an anonymous Queens-based LLC, has filed applications for a four-story, four-unit mixed-use building at 45-08 Junction Boulevard, in Corona, located six blocks south of the Junction Boulevard stop on the 7 train. The new structure will measure just 3,987 square feet in total and will include a small 449 square-foot doctor’s office on the ground floor. The residential units, three of which will have full-floor layouts, will average 750 square feet apiece. Flushing-based An Shen Ma is the architect of record. The site’s existing two-and-a-half-story wood-framed building must first be demolished.

Two-Story Expansion Filed For 464,000 Square-Foot Commercial Building At 787 Eleventh Avenue, Hell’s Kitchen

10:00 am on February 17, 2016 By Reid Wilson

Last July, Georgetown Company and Bill Ackman closed on the eight-story, 464,000 square-foot commercial building at 787 Eleventh Avenue, between West 54th and 55th streets in Hell’s Kitchen, for roughly $250 million. Now the property’s new owners have filed applications to expand the building by two stories or an additional 19,784 square feet. The roof will be raised by 60 feet (to 160 feet) and the latest filings indicate there will be 400,144 square feet of designated commercial space. The ground floor will contain retail space and automobile dealerships, floors two through five will contain automobile shops and services, and floors six through 10 will be office space. Per Curbed, Ackman’s Pershing Square Capital Management will be occupying the office space. Rafael Viñoly Architects is designing the project.

1.5-Million Square-Foot Office Building Could Be Built At 590 Atlantic Avenue, Downtown Brooklyn

6:00 am on February 17, 2016 By Reid Wilson

In September of 2015, the Empire State Development Corp. began the eminent domain process to acquire 590 Atlantic Avenue, located across from Atlantic Terminal and Barclays Center in Downtown Brooklyn, as part of the Pacific Park mega-development. A partnership between Forest City Ratner and Greenland Holdings would develop the property, currently home to two low-rise retail buildings. Right now, the site boasts 440,000 square feet of development rights, but the developers are proposing the idea to transfer 1.1 million square feet of air rights in order to build a 1.5-million-square-foot office building. According to Crain’s, the air rights transfer would have to be approved by a state review process via the Empire State Development Corp. The air rights transfer would preserve public plaza space.

26-Story, 90,000 Square-Foot Office Building Planned At 106 West 56th Street, Midtown

11:00 am on February 16, 2016 By Reid Wilson

Savanna and Hong Kong-based Atom Assets have acquired the nine-story, 36,000 square-foot building at 106 West 56th Street, in Midtown between Sixth and Seventh avenues, for an undisclosed amount. Crain’s reports the developers are planning to build a 26-story, 90,000 square-foot boutique office building. Zoning allows for the project to have up to 75,315 square feet of commercial space, and the building’s office floors will range from 5,000 to 2,000 square feet each. Perkins Eastman will be responsible for the design. The property’s current tenant has a year to vacate from the site, although demolition permits were already filed this past January to raze the building. Completion is tentatively expected in 2019.

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