Citigroup finishes $11.2M in external rehabs of Tribeca headquarters

Citigroup, on August 25, formally completed two external rehabilitation projects totaling $11.2 million at their headquarters building at 388 Greenwich Street in Tribeca.

The first plans, pre-filed on March 18, 2016, call for a rehab to outside space of the 496-foot tall, 39-story, building.

The project is described in the filings as: landscaping installation as per plans filed herewith. No change in use, egress or occupancy under this application. The initial cost as reported in the DOB filing for the work described in this permit application is $6,580,000.

Direct link to Acris document.LINK

Direct link to DOB document.LINK

The second plans, also pre-filed on March 18, 2016 call for additional rehab work to space outside of the 496-foot tall, 39-story, building.

The project is described in the filings as: application filed for civil work as per plans filed herewith. No change in use, egress or occupancy under this application. The initial cost as reported in the DOB filing for the work described in this permit application is $4,600,000.

Direct link to Acris document.LINK

Direct link to DOB document.LINK

The 2.7 million-square-foot office complex is used as the global headquarters for Citigroup. In 2007, the financial services corporation sold the complex to a joint venture between SL Green Realty and Ivanhoe Cambridge for nearly $1.6 billion. As part of the sale, Citigroup continued to occupy the building with a lease renewal that included a $2 billion buyback option, which they exercised in 2016.