Office rehab roundup: VNO, Brookfield
Vornado Realty Trust, on December 21, filed a permit application for a $1.1 million project to increase office space on four floors of its 1.1 million-square-foot office building, known as Penn 11 and the Equitable Life Assurance Building, at 11 Pennsylvania Plaza in Penn Plaza.
The plans call for an increase of office space on floors 11 through 14 of the 391-foot tall, 26-story building.
The project is described in the filings as: general construction modification and associated change of occupancy on floors 11 to 14 as per plans filed herewith. The initial cost as reported in the DOB filing for the work described in this permit application is $1,080,000.
Gensler will be the architect.
The building is home to the New York headquarters of Macy’s and AMC Networks.
In October, Vornado obtained a $50 million gap loan from Citibank and at the same time refinanced its existing $450 million loan from 2013, bringing the total debt to $500 million at the property.
Direct link to Acris document. LINK
Direct link to DOB document. LINK
Brookfield Properties, on December 21, was given a permit for a $2.8 million rehab of two floors of an office building at 250 Vesey Street in Battery Park City. The rehab includes space occupied by the financial firm Jane Street, which signed a lease in the building in 2014.
The plans, pre-filed on May 11, 2020, call for a rehab of floors seven and eight of the 473-foot tall, 33-story building.
The project is described in the filings as: structural work as shown on plans submitted herewith for infill of structural slab and associated framing. (Jane Street eighth floor slab infill). The initial cost as reported in the DOB filing for the work described in this permit application is $2,846,490.
Thornton Tomasetti is the architect.
Direct link to Acris document. LINK
Direct link to DOB document. LINK
Brookfield Properties, on December 21, filed a permit application for a $2 million build-out of two floors leased by Covington & Burlington at 620 Eighth Avenue in Times Square.
The plans call for a build-out of floors 39 and 42 of the 840-foot tall, 51-story building.
The project is described in the filings as: Covington – general construction inclusive of modifications to interior partitions on floors 39 and 42 for office expansion/renovations. The initial cost as reported in the DOB filing for the work described in this permit application is $1,993,687.
In 2018, the law firm Covington & Burlington expanded its lease at the building to occupy 33,000-square-feet.
Direct link to Acris document. LINK
Direct link to DOB document. LINK