Work is nearing completion on a two-story penthouse addition atop Manhattan’s historic Textile Building at 295 Fifth Avenue in Midtown South is nearly complete. Designed by Studios Architecture, the 34,000-square-foot penthouse will contain a mix of collaborative workspaces and several landscaped terraces.
The new penthouse is just one component of a full-building gut renovation kicked off by Tribeca Investment Group, PGIM Real Estate, and Meadow Partners last year. Valued at $350 million, the entire project will create Class A office space and tenant amenities designed through a modern lens.
The scope of work included infrastructure and elevator upgrades, HVAC and window replacements throughout the property, flexible floor plans, and technology upgrades to facilitate high-speed connectivity.
“With the addition of the penthouse, 295 Fifth Avenue becomes an absolute jewel in Midtown South,” said David Burns, principal, Studios Architecture. “By maintaining the original building’s character and creating something more than a glass cube for the podium floor, we’ve combined the essence of classic New York with modern necessity.”
Studios Architecture drew particular inspiration from the building’s neoclassical style, originally designed by George Backer in 1920. Studios’ source references are most clearly observed in the metal-framed archways featured in the new penthouse and retooled arched window opening on the lower levels.
Designed by Studio MAI, the building’s new lobby will feature lush interior plantings, a lobby café, a rear courtyard with additional plant life, and a modest library.
The new 295 Fifth Avenue is expected to open for occupancy later this year. CBRE is handling marketing of the 700,000 square feet of updated office space.