Munich RE, Related file two large office rehabs in Manhattan
Munich RE and Related Companies each filed a large office rehabilitation in Manhattan earlier this week. Munich RE filed plans for a $7 million build-out for brokerage JLL at their recently purchased 330 Madison, while Related Companies filed plans for an $8.2 million build-out for a single floor at 30 Hudson Yards.
Munich RE, on September 9, filed a permit application for a $7 million build-out of several floors leased by JLL at 330 Madison Avenue in Grand Central. The German reinsurance firm purchased the office building for $900 million from the Abu Dhabi Investment Authority earlier this year.
In January, JLL signed a 10-year lease for 150,000-square-feet of space spanning the entire third, fourth and fifth floors, as well as a portion of the sixth floor.
The plans call for a rehab of floors three through six of the 492-foot tall, 40-story, building.
The project is described in the filings as: interior renovation partition, ceiling and door modifications as indicated on plans filed herewith. No change in use, egress or occupancy. The initial cost as reported in the DOB filing for the work described in this permit application is $7,005,848.
The architect listed is TPG Architecture, LLP.
News of the building acquisition circulated after reports stated last year that Munich RE had entered a contract to buy the 1960s-era building.
Vornado Realty Trust had previously owned a 25 percent stake in the building, before Abu Dhabi Investment Authority bought them out for more than $1,000 per square foot.
Direct link to Acris document.LINK
Direct link to DOB document.LINK
Related Companies, on September 8, filed a permit application for an $8.2 million build-out of one floor of their office building, known as 30 Hudson Yards, which also operates under the address 500 West 33rd Street, in Hudson Yards.
The plans call for work on the 60th floor (40th floor by construction) of the 1269-foot tall, 68-story, building.
The project is described in the filings as: filing herewith for removal and construction of interior partitions, ceilings and doors as per plans. No change to use, egress or occupancy. 40th floor construction/60th marketing. The initial cost as reported in the DOB filing for the work described in this permit application is $8,200,000.
The Switzer Group will be responsible for the project, per the filing.
The developer recently completed an $8 million build-out of restaurant space on two floors, as well as three additional rehabilitation projects totaling $25.4 million at the 30 Hudson Yards.
Direct link to Acris document.LINK
Direct link to DOB document.LINK