The Georgetown Company, a leading developer and owner of commercial, retail and mixed-use properties nationwide, announces world-renowned architect Rafael Viñoly will redesign the company’s recently-purchased 787 11th Avenue property into state of the art, creative office space. The $100 million redevelopment will add a two-story penthouse and transform the historic building’s upper levels into modern offices with oversized floor plans while the lower floors will be renovated into flagship auto dealerships.
Located in the rapidly growing Far West Side of Manhattan, the building is directly across the street from Dewitt Clinton Park and just one block away from the Hudson River Park and West Side Highway. Designed to meet the growing demand for upscale office space in the Clinton area, the redevelopment will add 86,000 square feet to the building that will be 10 floors, bringing total square footage to over 500,000 square feet.
The best-in-class property will feature large, open floorplate measuring over an acre in size; 24-foot high ceilings in certain areas; oversized windows to let in abundant natural light; executive parking in the basement; a 12,000 square foot rooftop deck for the exclusive use of office tenants; and a partnership with the adjacent Mercedes Club, a world-class health club across the street. Tenants will also benefit from a number of convenient transportation options, including shuttle service to transit hubs and a planned CitiBike station across the street.
“We’re excited to work with our partners and Rafael to create a truly unique property in the Clinton neighborhood,” said Adam Flatto, CEO of The Georgetown Company. “With the Far West Side quickly emerging as the center of new activity in Manhattan, we see demand exploding for modern, creative office space.”
“Georgetown has a reputation for developing the very best properties so it’s an honor to join with them on this project,” said Viñoly, whose recent projects in New York include 432 Park Avenue and the Rockefeller University Campus Master Plan. “The opportunity to combine the building’s historic architecture with a sleek and modern design is one I could not pass up.”
Late last year, BNF Automotive Group and Nissan North America signed long term leases for 265,000 square feet on the lower floors of the building for flagship dealerships, including state of the art showrooms and service facilities for Jaguar, Land Rover Infiniti and Nissan.
Georgetown’s partners on the project include Bill Ackman and Main Street Advisors, Inc. (MSA), a Santa Monica-based boutique investment management and advisory firm serving high profile clients from the media, entertainment, music and sports industries. MSA has invested with Georgetown in multiple projects in New York, Los Angeles and Ohio.