Durst Organization’s 114 West 47th St. getting a – Business News
A contemporary look is coming to 114 W. 47th St., a Durst Organization property that stands other than the remainder of the Midtown office-tower scene.
The red-brick building between Sixth and Seventh avenues has 600,000 sq. toes — a lot smaller than the million-plus giants round it, however bigger than close by “boutique” workplace places.
Sometimes neglected resulting from its midblock deal with and low-profile entrance, it’s in for modest however significant upgrading — and new tenants. Durst is launching a advertising and marketing marketing campaign for 525,000 sq. toes out there now or in early 2028, and probably for the entire building.
The Durst Organization’s 114 W. 47th St. property is bracing for an improve. Google Maps
The company is launching a advertising and marketing marketing campaign for 525,000 sq. toes out there now or in early 2028, and probably for all of 114 W. 47th St. Durst Organization
The redesign by architects HOK, which Durst leasing head Eric Engelhardt estimated will value within the “tens of millions,” is meant to help “find a new anchor tenant.”
Among different enhancements, he stated, will probably be a new entrance with a extremely seen awning, a new foyer and elevator cabs, a tenants’ lounge and probably six new outside terraces along with the one which exists now.
The tower was constructed for US Trust Company in 1989. The firm was bought and resold a number of occasions and ultimately turn out to be Bank of America’s Private Banking division, which can exit 350,000 sq. toes in February 2028.
Seven of the tower’s 26 flooring are at present vacant with about 175,000 sq. toes.
114 W. 47th St. is due for a new foyer, amongst different enhancements. Durst Organization
Seven of the tower’s 26 flooring are vacant with about 175,000 sq. toes. Durst Organization
Engelhardt stated that BofA’s departure will go away flooring 3-17 out there as a contiguous block, a uncommon commodity within the drum-tight Manhattan Class-A market.
He stated asking rents will probably be from $110-$135 per sq. foot.
Mary Ann Tighe, chief of the CBRE leasing group, stated, “For companies looking for a new headquarters in Midtown, 114 West 47th Street offers an ideal location combined with the quality, sustainability, and stewardship that the Durst Organization is known for.”
CBRE is working with a Durst in-house group that additionally contains Tom Bow and Rocco Romeo.
Devotees of Langan’s, the favored Irish-themed restaurant on the ground flooring, needn’t fear concerning the modifications, which received’t have an effect on it in any respect, Engelhardt stated.
