L&L Holding Co. has announced a major redevelopment of Flatirons's 150 Fifth Avenue, an office tower originally completed in 1890. When the redevelopment is complete the updated office building will feature 227,500 SF of office space complete with the addition of a unique, 2 story rooftop complete with a roofdeck. In all, 150 Fifth Avenue features 11 floors of rentable office space with open floorplans. The ground floor features 15,000 SF of rentable space, floors 2-8 feature 23,000 SF of rentable space each, floor 9 features 21,000 SF, before dropping to 16,000 SF and 14,500 SF respectively on 10 and 11. The redevelopment is being designed by Studios Architecture with Higgins Quasebarth & Partners. OC Development Management will be the project manager. Construction is expected to begin in February 2018 and wrap-up late summer 2019. According to TheRealDeal, Mastercard was negotiating with L&L Holding Co. in May 2017 lease the entire building at 150 Fifth Avenue where they reported average rent for office space in the Flatiron District was $72 SF. 150 Fifth Avenue was originally built in 1888 and was completed in 1890, undergoing a major renovation in 2003 and was selected in 2005 as BOMA’s Renovated Building of the Year.
Moxy Hotel Times Square Releases Renderings of Yabu Pushelberg Designed Rooms
Moxy Hotel Times Square has released renderings of their trendy rooms, which have been designed by famed interior designer Yabu Pushelberg. The Moxy Hotel Times Square, which is being developed by Lightstone, will be the first New York City location for the millennial-focused Marriott subsidiary. Moxy Hotels offer small guest rooms with suite style, communal spaces. Room sizes range from 120 SF to 350 SF. The Moxy Hotel Times Square will feature 612 hotel rooms and will be located at 485 Seventh Avenue between 36h and 37th Streets. The Yabu Pushelberg designed rooms were designed with inspiration from ocean liners. The hotel will also feature a 5,000 SF restaurant operated by Tao Group. Room rates will range from $200 to the mid $400's. There will be another Moxy Hotel located on 28th Street between Sixth and Seventh Avenues which will open in 2018 and is also being developed by Lightstone as well as another location on East 11th Street which will open in 2019.
Hedge Fund & Asset Management Titans Moving to Related Companies' 55 Hudson Yards
Daniel Loeb’s $15B hedge fund Third Point will join Steven Cohen's Point 72 Asset Management at Related Companies’ 55 Hudson Yards. Point 72 signed a letter of intent for 175,000 SF on six floors while Third Point has reserved the top 2 or 3 floors totaling 60,000 - 90,000 SF. 55 Hudson Yards is a 51-story office building built by Related Companies and is designed by Kohn Pedersen Fox. Pricing is between $90-$150 SF and the building will be completed in 2019.
Columbia University to Open New Lenfest Center for the Arts Designed by Renzo Piano on April 22
Columbia University will open its new Lenfest Center for the Arts, which was designed by Renzo Piano, on April 22. The Lenfest Center for the Arts is the school's first dedicated facility for its School of Arts to host performances and events. It is located on Columbia University's Manhattanville Campus and is adjacent to the new Jerome L. Green Science Center. The Lenfest Center for the Arts is 60,000 SF and also features the Miriam and Ira D Wallach Art Gallery. Renzo Piano's architecture firm collaborated with Skidmore, Owings, and Merrill on the master plan for the Columbia's Manhattanville Campus and he has designed many of the buildings including the University Forum and Academic Conference Center.
