Brookfield weighs massive renovation of former Daily News headquarters

TRD New York /
Jun.June 19, 2012 09:30 AM

In an effort to better integrate its existing West 33rd Street tower with its forthcoming multi-billion-dollar Manhattan West project, Brookfield Office Properties is considering undertaking a massive renovation of the former home of the New York Daily News, according to the New York Observer. The 1.7 million-square-foot tower, at 450 West 33rd Street, is adjacent to the rail yards where Brookfield will begin construction in the coming months on a $300 million deck that will serve as the base of a four-tower development. Brookfield has yet to lay out specific plans for the potential renovation, although Jerry Larkin, Brookfield’s senior director of leasing, noted that it could include installing an all-glass facade, a new lobby and upgrading other building systems.

However, the developer does have the potential benefits of that renovation fully planned out. It would allow the Cushman & Wakefield team marketing Manhattan West to offer potential tenants the ability to take some pricier space in the brand new office towers and complimentary cheaper space at 450 West 33rd Street.

“A tenant could take a 40,000-square-foot tower floor and then lease the rest of their space in 450 West 33rd Street and average down their costs,” Cushman Chairman Bruce Mosler said. That could give Manhattan West a leg up over Related’s Hudson Yards. [NYO]


Related Articles

arrow_forward_ios
151-45 6th Road and Stephen Preuss

Massive, controversial Queens site back on market

Sam Nazarian and Manhattan West

Hospitality mogul Sam Nazarian taking a bite out of Manhattan West

The Coca-Cola building at 711 5th Avenue (Credit: Google Maps and iStock)

Flipped off: The inside story of Coca-Cola’s botched building sale

Vineyard Vines HQ sold in Stamford, Avon inks Rye deal & more Westchester and Fairfield real estate news

Vineyard Vines HQ sold in Stamford, Avon inks Rye deal & more Westchester and Fairfield real estate news

Fifth Wall co-founders Brendan Wallace and Brad Greiwe (Credit: Jeff Newton)

Real estate tech investor Fifth Wall launches $500M fund

New heights for Everest as insurer inks North Jersey’s largest lease deal of 2019

New heights for Everest as insurer inks North Jersey’s largest lease deal of 2019

North Star Commercial's stie at 240 North Avenue in Downtown New Rochelle and Thomas Donovan.

This Westchester development site just hit the market seeking nearly $30M

Somerville moves forward with 31-acre transit village, Woodcliff Lake office property sold for $36M & more North Jersey real estate news

Somerville moves forward with 31-acre transit village, Woodcliff Lake office property sold for $36M & more North Jersey real estate news

arrow_forward_ios