Office rehab roundup: Rockefeller, Tishman Speyer, Ivanhoé Cambridge complete rehabs totaling $24.9M

Rockefeller Group, on October 9, formally completed a $12.9 million build-out for tenant Latham & Watkins at 1271 Avenue of the Americas, formally known as the Time-Life Building, in Midtown West.

The plans, pre-filed on September 25, 2019, call for a build-out of two floors of the 574-foot tall, 47-story, building.

The project is described in the filings as: minor demolition. Removal of slab to form stair opening. installation of new stairs, partitions, doors, suspended ceilings, flooring and finishes as per plans (Latham & Watkins, floors 32-33 (co)/ 33-34(marketing)/ Phase 1). No change to use, egress or occupancy. The initial cost as reported in the DOB filing for the work described in this permit application is $12,902,700.

In April of 2018, the international law firm Latham and Watkins signed a 15-year lease with the Rockefeller Group for 407,000-square-feet of space spanning floors 25-34 of the building.

The developer has been active at the building so far this year, both filing and completing other significant rehab projects.

Direct link to Acris document.LINK

Direct link to DOB document.LINK

Tishman Speyer, on October 9, formally completed a $6.7 million build-out at 200 Park Avenue, known as the MetLife Building, in Grand Central.

The plans, pre-filed on October 30, 2019, call for a build-out of office space on the 42nd floor and minor work on the 40th floor of the 797-foot tall, 59-story, building.

The project is described in the filings as: interior build out of office space on 42nd floor. Scope to include minor work on 40th floor as per drawings 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 $6,700,000.

The developer has been highly active at the building, recently completing a $4.4 million rehab of one floor and filing plans for a $10.8 million rehab of several floors.

Tenants of the building include CBRE, Freddie Mac, Merrill Lynch, BNP Paribas, BNY Mellon, Citibank and Barclays.

In 2018 the New York Post reported that the owners planned to renovate the building’s 50,000-square-foot lobby

Direct link to Acris document.LINK

Direct link to DOB document.LINK

Ivanhoé Cambridge, on October 8, completed a $5.3 million rehab of one floor at 1411 Broadway in the Garment District. Callahan Capital Properties and the Swig Company also have stakes in the property.

Ivanhoé Cambridge acquired a 49.9 percent ownership interest in the building for over $360 million in a joint venture agreement with The Swig Company back in 2012.

The plans, pre-filed on June 28, 2019, call for a rehab of the 11th floor of the 591-foot tall, 42-story, building.

The project is described in the filings as: herewith filing for interior renovation as per plans. No change to use or occupancy. The initial cost as reported in the DOB filing for the work described in this permit application is $5,332,000.

TPG Architecture, LLP was the architect.

After purchasing the stake, the joint venture announced it would spend $60 million renovating and updating the building.

Direct link to Acris document.LINK

Direct link to DOB document.LINK