RFR’s careful renovation and repositioning of 160 Fifth Avenue was embraced by the broker community. We successfully leased the entire building to tenants ideally suited to the property.
New York, NY (PRWEB) November 18, 2011
Manhattan owner/developer RFR has fully leased its office space at nine-story, 107,000-square-foot 160 Fifth Avenue. The property in the Flatiron District at 21st Street and Fifth Avenue has been actively repositioned as a Class-A boutique office address and leased up over the past two years.
An expanded lease totaling over 76,000 square feet with the Simons Foundation has brought the property to full occupancy. The Simons Foundation is a private charitable foundation dedicated to the advancement of mathematics and science. Founded by hedge fund manager James H. Simons, Ph.D., The Simons Foundation is managed by his wife, Dr. Marilyn Simons. The Simons Foundation expanded onto the entire second floor of the building in addition to its original lease of floors six though nine. The tenant roster at 160 Fifth Avenue also includes Prophet Brand Strategy, Forrester Research and an office/showroom for luxury faucet designer Grohe America. Apparel label Club Monaco occupies the retail component of 160 Fifth Avenue.
“RFR’s careful renovation and repositioning of 160 Fifth Avenue was embraced by the broker community. We successfully leased the entire building to tenants ideally suited to the property,” said Oliver Katcher, senior vice president at RFR. “The comprehensive renovation brought 160 Fifth Avenue to a modern Class-A standard while maintaining the original architectural design integrity of the property. We could not be happier with the results of the improvements or the prestigious tenants the property attracted.”
The multi-million dollar renovation and restoration program of the circa 1892 building, was highlighted by a façade and cornice restoration, new lobby, new entrance, new elevator cabs, new restrooms, new HVAC systems, new telecommunications/electrical infrastructure and custom-fabricated energy-efficient operable over-sized windows. In addition, the renovation included a fully landscaped 3,300-square-foot private rooftop terrace available to all tenants and a rotating lobby art program featuring the pieces from the Lever House Art Collection.
Jones Lang LaSalle’s Mitchell Konsker and Alexander Chudnoff worked as co-exclusive leasing agents for 160 Fifth Avenue and represented the owner along with Mr. Katcher throughout the lease-up of the office space and in the Simons Foundation lease negotiations. Peter Hennessy of Cassidy Turley represented The Simons Foundation.
RFR is a privately held full-service Manhattan-based owner/developer with a substantial portfolio of office, residential, retail and hotel properties founded by Aby Rosen and Michael Fuchs. The global real estate firm owns and manages approximately six million square feet of prime office and retail space in Manhattan including premier properties 375 Park Avenue (Seagram Building), 390 Park Avenue (Lever House), 160 Fifth Avenue, 980 Madison Avenue and 17 State Street. RFR controls additional properties on Miami’s South Beach, on the Las Vegas strip, in Stamford, Connecticut and in Germany as well as 1,500 luxury residential units in Manhattan.