PGIM Real Estate finishes $10.1M multi-floor rehab of 180 Madison Avenue

PGIM Real Estate, on January 28, formally completed a $10.1 million rehabilitation of several floors of 180 Madison Avenue in the Garment District.

The plans, pre-filed on August 24, 2017, call for a renovation of the 240-foot tall, 23-story building.

The project is described in the filings as: plans filed herewith for the interior renovation within an existing space. 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 $10,144,000.

HDR was listed as the architect.

PGIM Real Estate, formally known as Prudential Real Estate Investors, partnered with the Clarett Group, which has since dissolved, in 2008 to buy the property for $146.2 million.

The developer refinanced the property in 2015 with a $110 million loan from JPMorgan Chase and Helaba.

Direct link to Acris document. LINK

Direct link to DOB document. LINK