Office

Rendering of 10th Avenue entrance, via Wells Fargo

Wells Fargo Announces Retail-to-Office Conversion in Hudson Yards, Manhattan

7:30 am on December 2, 2023 By Max Gillespie

Wells Fargo has announced plans to consolidate most of its New York office presence across two buildings in Hudson Yards. Developed by Related Companies, the project involves the conversion of three stories of retail space in 20 Hudson Yards into 445,000 square feet of new office space, providing an easy link to the company’s existing nine-story footprint in the connecting 30 Hudson Yards supertall skyscraper. Wells Fargo reportedly purchased the former Neiman Marcus store, which closed in 2020, for $550 million and plans to open the new office in three years.

Evening rendering of Terminal Warehouse in West Chelsea - Credit COOKFOX

YIMBY Tours Terminal Warehouse At 261 Eleventh Avenue in West Chelsea, Manhattan

8:00 am on November 30, 2023 By Michael Young

YIMBY recently went on a tour of Terminal Warehouse at 261 Eleventh Avenue in West Chelsea, Manhattan. The original 132-year-old George Mallory-designed structure is being extensively renovated and now features a new six-story office pavilion designed by COOKFOX Architects and redeveloped by L&L Holding Company, Columbia Property Trust, and Cannon Hill Capital Partners. New Line Structures & Development is the general contractor for the 1.3-million square foot development, which will cost $2 billion-plus, stand 13 stories tall, and yield new Class A office suites, around 100,000 square feet of new outdoor green space including 29 private terraces and a central courtyard, ground-floor retail space, and multiple dining options. Cushman & Wakefield is the exclusive listing agent for both office and retail. Terminal Warehouse takes up a full city block bound by West 28th Street to the north, West 27th Street to the south, Eleventh Avenue to the east, and Hudson River to the west. Floor plates vary in size up to 160,000 square feet.

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Rendering of 295 Fifth Avenue with its new rooftop penthouse

Developers Announce 132,000-Square-Foot Lease Deal at 295 Fifth Avenue In Midtown South, Manhattan

7:30 am on November 30, 2023 By Max Gillespie

Tribeca Investment Group, PGIM Real Estate, and Meadow Partners have announced a lease agreement with global litigation firm Quinn Emanuel Urquhart & Sullivan, LLP for a 132,000-square-foot space at the fully renovated 295 Fifth Avenue in Midtown South, Manhattan. This relocation marks one of the largest relocations of 2023 in the surrounding area and reflects a trend of traditional industries filling the leasing gap left by technology firms in the neighborhood. CBRE helped facilitate the transaction on behalf of ownership and represented Quinn in the leasing agreement.

32 Avenue of the Americas surrounding area, via nyc.gov

LPC To Review Renovations to 32 Avenue Of The Americas in Tribeca, Manhattan

7:30 am on November 25, 2023 By Max Gillespie

On November 28, the Landmarks Preservation Commission will review a new proposal from Marvel Architects and Rudin Management for the renovation of 32 Avenue of the Americas in Tribeca. This 27-story Art Deco building, originally designed by Ralph Thomas Walker and built between 1912-1916 with expansions in 1930-1932, is an important piece of the history of development in Tribeca. Recognized as an Individual NYC Landmark and Interior Landmark since 1991, the building has undergone various approved renovations, including a storefront masterplan in 2013 and lobby and main building entries renovation in 2022.

118-124 Tenth Avenue Awaits Construction Activity in Chelsea, Manhattan

8:00 am on November 24, 2023 By Michael Young and Matt Pruznick

Rounding out our Turkey Week rundown of stalled and on-hold projects in New York City is 118-124 Tenth Avenue, a planned ten-story commercial building in Chelsea, Manhattan. Initially developed by Real Estate Equities Corporation (REEC), which acquired the adjacent properties at 118 and 124 Tenth Avenue for $21 million in 2017, the project was expected to yield 100,000 square feet of office and ground-floor retail space. REEC completed demolition of the former low-rise occupants of the parcel, but progress stalled shortly thereafter. Signs posted on site indicate that GDSNY has taken over as developer and the building’s scope has been expanded to 155,000 square feet. The signs also list Triton Construction as the general contractor for the project, which is located along Tenth Avenue between West 17th and West 18th Streets, across from the High Line.

Sustainable Lighting Upgrades Announced for One World Trade Center in Financial District, Manhattan

7:30 am on November 23, 2023 By Max Gillespie

Governor Kathy Hochul has announced significant energy-efficient lighting upgrades for One World Trade Center, marking an important step in New York’s commitment to sustainability and energy conservation.

JPMorgan Celebrates the Topping Out of its Supertall Headquarters at 270 Park Avenue in Midtown East, Manhattan

8:00 am on November 21, 2023 By Michael Young and Matt Pruznick

Construction has structurally topped out on 270 Park Avenue, JPMorgan Chase‘s 1,388-foot supertall headquarters in Midtown East. Designed by Lord Norman Foster of Foster + Partners with Adamsom Associates as the architect of record and developed by Tishman Speyer, 60-story skyscraper will yield 2.5 million square feet of office space with a capacity of 15,000 employees, and is the tallest project currently underway in New York. AECOM Tishman is the general contractor for the property, which spans a full city block bound by East 48th Street to the north, East 47th Street to the south, Park Avenue to the east, and Madison Avenue to the west.

David Adjaye’s Affirmation Tower Remains on Hold at 418 Eleventh Avenue in Hudson Yards, Manhattan

7:30 am on November 21, 2023 By Michael Young and Matt Pruznick

The third entry in our Turkey Week rundown of stalled and on-hold construction projects in New York City is Affirmation Tower, a 1,663-foot mixed-use supertall at 418 Eleventh Avenue, just north of Related Companies‘ first phase of Hudson Yards. Designed by Sir David Adjaye of Adjaye Associates and developed in collaboration between Cheryl McKissack Daniel of McKissack & McKissack, The Peebles Corporation, Exact Capital Group, and the Witkoff Group, the 2-million-square-foot structure would easily wrest the title of tallest building in New York by roof height from Extell’s Central Park Tower, surpassing its parapet by more than 100 feet. The development’s 1.2-acre plot, dubbed “Site K,” was also the site selected for the long-stale Hudson Spire proposal, and is bound by West 36th Street to the north, West 35th Street to the south, Eleventh Avenue to the east, and Hudson Boulevard to the west.

Three Hudson Boulevard Remains Stalled in Hudson Yards, Manhattan

7:30 am on November 20, 2023 By Michael Young and Matt Pruznick

Continuing our Turkey Week rundown of on-hold projects in New York City is Three Hudson Boulevard, a planned 56-story office skyscraper in the Hudson Yards district. Designed by FXCollaborative and developed by Boston Properties and The Moinian Group, the $3 billion project was planned to rise 940 feet tall and yield 1.86 million square feet of office space, but has been stalled since early 2020. The property occupies a full city block bound by West 35th Street to the north, West 34th Street to the south, Bella Abzug Park to the east, and Eleventh Avenue to the west.

Lever House Completes $100 Million Renovation At 390 Park Avenue In Midtown East, Manhattan

8:00 am on November 19, 2023 By Michael Young

Renovation work has concluded on Lever House, a landmarked 21-story International Style office tower at 390 Park Avenue in Midtown East. Designed by Skidmore, Owings & Merrill and developed by WatermanClark, Brookfield Properties, Higgins Quasebarth & Partners, Integrated Conservation Resources, and Integrated Conservation Contracting, the project involved an overhaul of the ground-floor pedestrian plaza, main lobby, and ventilation and sustainability systems of the 307-foot-tall, 71-year-old structure, as well as the construction of new amenity spaces. Marmol Radziner was the interior designer and Pavarini McGovern was the general contractor for the property, which is located along Park Avenue between East 53rd and 54th Streets.

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