Nightingale Properties and Wafra Capital Partners recently launched a campaign to draw in $860 million in construction financing to redevelop an existing office building in Manhattan’s Financial District. Located at 111 Wall Street, it is estimated that redevelopment costs will max out at $1 billion.
Studios Architecture was retained to fully revitalize and reposition the property as a sought-after destination for modern Class-A office space.
Lifestyle amenity spaces will span over 40,000 square feet and will include a 125-seat conference center, flexible event space, a bike and scooter charging room, upscale food and beverage options for tenants, a café, a fitness center, and a spa.
Proposals also include the construction of over 20,000 square feet of manicured outdoor and green spaces including an occupiable rooftop, the installation of a new curtain wall, floor-to-ceiling windows, an expanded lobby, and a new high-speed network of elevator lifts.
As part of an infrastructure overhaul, the property will receive state-of-the-art MEP systems, energy-efficient HVACs, and fully redundant power systems. The property aims to achieve LEED Silver certification.
Newmark Knight Frank is currently working on acquiring the required loan for the project, while Jones Lang LaSalle will exclusively oversee all leasing at 111 Wall Street.