The landlords hope the revamp will attract research and pharmaceutical firms from suburban markets like New Jersey, the New York Post reported. The New York Stem Cell Foundation recently inked a 42,100-square-foot lease at the 10-story building and another 150,000 square feet are now being readied for similar tenants.
Taconic bought the 325,000-square-foot building for $112 million in 2012. In February, Silverstein Properties bought a majority stake, valuing the building at more than $180 million. Taconic kept a 10 percent interest.
The property currently includes a Volvo car dealership, which is set to move to the Moinian Group’s apartment tower Sky.