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Skyline Developers has announced that they are embarking on a multi-million dollar renovation of its Bryant Park asset, 1040 Avenue of the Americas. The 24-story office building, which recently underwent a detailed restoration of the façade, will receive a dramatic facelift to further align the property with the new contemporary standard of the increasingly popular Bryant Park submarket.
Skyline has enlisted the assistance of renowned architectural firm, Spector Group, to completely upgrade the lobby, main entrance and ground floor retail storefronts. Spector’s design adds contemporary flare while remaining true to the building’s classic design. The exterior is modernized with soaring glass storefronts, detailed with bronze fittings and complimented by a sophisticated flamed granite façade. The full overhaul of the lobby will feature an entirely new, sleek and elegant installation including stylish stone walls and floors in an array of meticulously coordinated limestone varieties with chic stainless steel and warm wood accents. Spector Group Principal Scott Spector comments on the building’s transformation, “The façade will stand more proud and confident than ever. The new lobby while modern in design has a welcoming quality that is timeless.”
The winds of change have also recently brought about exciting new leasing prospects to 1040 Avenue of the Americas. Newmark Grubb Knight Frank represented Skyline in such recent successes as Charles River Systems, Inc.’s ten-year lease extension and expansion on the 16th floor for 7,847 square feet and Willis Group Holdings lease renewal on the 21st floor for 8,285 square feet. Other notable tenants include Boy Scouts of America, Dice Holdings, Dorma Group North America and Update Legal.
“With all of the improvements ownership is doing, 1040 Avenue of the Americas has become a highly desired office building in the Bryant Park corridor,” said NGKF’s William G. Cohen, executive vice president, who along with his associate Andrew Weisz is handling the office leasing of the property.
To add to the impressive roster, Starbucks recently signed for a ground floor 1,020-square-foot space where it will roll out a new café concept. “We are thrilled to be able to add an amenity like Starbucks to 1040 Avenue of the Americas. Starbucks’ reputation and quality align well with how Ownership is looking to reposition the building,” said NGKF’s Jeffrey D. Roseman, executive vice president, who is handling the retail leasing for the building along with Gregg Gropper and Alexandra Tennenbaum.
Skyline Developers President Orin Wilf elates, “We are confident this significant undertaking will yield a spectacular outcome-not only for our tenants, but the Bryant Park neighborhood. The improvements will position 1040 Avenue of the Americas as a prime address in this very desirable area.”
1040 Avenue of the Americas is owned and managed by Skyline Developers, the New York affiliate of Garden Homes Development. Garden Homes is a private real estate firm owned by the Wilf family. Garden Homes owns and manages in excess of 50,000 apartment units and over 25,000,000 square feet of retail centers, office buildings and hotels. With offices in New Jersey, New York, Tampa, Florida, and San Diego, California, and properties in over 37 states, Garden Homes is one of the largest builders of residential and commercial real estate in this country.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,800 professionals operate from more than 370 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com.