Developers are finding that old bricks make appealing new haunts for trendy tenants — so long as stunning expanses of glass are involved.
But to get to “yes” and a signed lease — along with the sprawling glass additions — modern amenities, roof decks, technology and infrastructure all have to be updated.
Here are a few projects that are remaking the city by including new twists.
Good wool hunting
Morton Silver and his son, Thomas, of Orda Management, the long-time owners of 223 and 225 Park Ave. South, are planning a complete overhaul of the properties at the end of the year.
At that time, their current tenant, the Port Authority of New York & New Jersey will move its offices back to 4 World Trade Center, and the massive face-lift and capital investment program will begin.
The south and taller American Woolen Building was designed by Robert Henderson Robertson and built in 1909 for the woolen company. Its double height arched entry is topped by its logo: a large ram’s head with curling horns. Built at the same time, 233 is distinguished by the large brass ring over its doorway.
The buildings were so attractive, they were shortlisted by Sony and L’Oreal, each of which eventually opted to move elsewhere. But at just 6 percent, Midtown South has the lowest vacancy rates in the city. Since the area is the “It” girl for tech, advertising, media and information tenants (TAMI), rents are also rising while space is at a premium.
Now, a Newmark Grubb Knight Frank team led by Brian Waterman with Andrew Peretz, Brent Ozarowski and Courtney Adham is beginning to market the 480,000 square- foot availability as 225 Park Ave. South.
Along with entirely new mechanicals, STUDIOS Architecture has designed a dramatic glass-walled stairway to join the two buildings that can be accessed from either property but is hidden from the street.
“The staircase was something they have been discussing for a while and they came up with a thoughtful way to do that,” said Peretz. “It will be driven by the users.”
Floor plates range from 27,000 square feet to 40,700 square feet while 14-foot ceiling heights and operable windows maximize the buildings’ light, air and views around the Union Square area.
An 8,000-square-foot landscaped roof deck will be created on the roof of the lower, 12-story north building. This will feature a 2,360-square-foot enclosed pavillion topped by another 3,000-square-foot landscaped terrace that will be accessed from the 14th floor of the 19-story No. 225.
But there is plenty of flexibility, especially with 24 elevators — the most in the area. Peretz said a large tenant could have the north lobby and 160,000 square feet; another can use the south lobby and the front portion of the larger 225 floor plate; and yet a third user can have the rear 150,000 square feet or more of that building and their own private lobby and marquee on E. 18th St.
Signage and branding opportunities abound, Peretz said, with asking rents ranging from $75 to $85 per foot, depending on placement. “It is priced very appropriately for what is going on in the marketplace,” explained Peretz. “You will be blown away. It will be the next it building — exciting and high profile — and we are going to get someone fabulous.”
Factory fresh
Developer Larry Gluck’s Stellar Management, along with partners Rockpoint and Imperium Capital, are taking two former factory buildings at the angular, northwest corner of Spring Street and Avenue of the Americas and not only adding a glass penthouse, but joining them with a double-height glass-fronted shared lobby and towering glass addition that overlooks the triangular SoHo Square Park.
On this sunny corner at the crossroads of Hudson Square, SoHo and TriBeCa, the newly dubbed 1 SOHO Square is coming alive. The Gensler architects are melding the buildings by creating a brand new core and infrastructure in a former loading dock.
“Now six lobbies have been unified into one lobby,” said Gensler’s Karen A. Pedrazzi.
Moving the inner works and elevators to the glass center addition has also opened up the floor plates to 26,000 square feet at 161 Ave. of the Americas and 33,000 square feet at 233 Spring — making a rare 240,000 square feet available in Midtown South.
“A company can create a campus with two different uses,” said Josh Kuriloff executive vice chairman of Cushman & Wakefield who heads the C&W marketing team that includes Jodi Roberts, Jamie Katcher, Jonathan Fales and Matthias Li.
The three new floors of spectacular glass penthouses will have asking rents of $125 per foot — with no charge for the terraces or decks — while other floors will have asking rents in the mid-$80s per foot.
On a recent tour, old pine boards in a parquet pattern have been polished to a warm glow while scattered interior brick walls are authentically rough. The large floors have views to One World Trade Center and across the low-rise SoHo to the east.
On the sheltered roof where the glass penthouses, landscaped terraces and new roof decks will soon be under construction, views extend to the Midtown skyline, making Central Park’s trees look like tiny toys. All the rooftop mechanicals will be wrapped in a perforated metal mesh topped by two rings of light.
“The design is a nod to the industrial nature of SoHo,” added Ryan Jackson of Stellar Management.
Meat ‘N Greet
The former low Meatpacking District warehouse at 837 Washington St. had good bones and a prime location next to the High Line and opposite the Standard Hotel. The building also wraps around Little W. 13th St. and provides a long block of retail space on the north-south route to be used by strollers from West 14th Street to the upcoming Whitney Museum.
But rather than construct a brick square on top of the old building, developers Joseph Sitt of Thor Equities and his minority partners, Paul Pariser and Charles Bendit of Taconic Investment Partners, commissioned architect Morris Adjmi to design something unique.
“We kept pushing for more,” Pariser said. “We drew our thoughts from the High Line and wanted an iconic structure.” The result is an industrial-style greenhouse hung from an exoskeleton that provides light and airy diamond-shaped floors. The lobby is on Little W. 13th.
Floor sizes step up and set back from the 13,000-square-foot second floor that could become a restaurant.
The 7,230-square-foot third floor comes with a 3,500-square-foot terrace while the 5,790-square-foot sixth floor will have access to a 3,000-square-foot roof deck.
“The terraces are very cool and will be planted with greenery,” said Pariser.
The street-level storefronts have been redesigned with glass walls and historical awnings. The 10,500-square- foot ground floor has an 13-foot-8-inch ceiling and can be subdivided, joined with the second floor, or with the 7,000-square-foot cellar. The ground asking rent is $500 a foot.
“This is the hottest building in the hottest area,” said Sitt. Melissa Gliatta, Thor’s executive vice president noted, “This is a compelling alternative to Soho.”
In March, the retail hosted work from all-women artists during The Last Brucennial by Vito Schnabel & The Bruce High Quality Foundation.
“It’s a gorgeous building and all that twisting steel makes it interesting,” added Pariser. The team invested over $20 million just for the addition. “We knew it would be a significant building and we will get a great tenant.”
Office asking rents are north of $130 per foot and tenants are interested in every floor and potential configuration: For combinations up to the full 40,000 square feet of offices; for individual retail spaces; and for the entire 57,000-square-foot building for offices and retail.
“We are very proud of it and for what it will do for the community,” said Pariser.
