Plaza outside Rockefeller Group’s 1221 Sixth to get major redesign

Company to create more public-friendly spaces

TRD New York /
Nov.November 07, 2017 08:30 AM

The Rockefeller Group is planning a major overhaul at the former McGraw-Hill Tower On Sixth Avenue.

The company plans to renovate its indoor and outdoor plaza at 1221 Sixth Avenue, the New York Post reported. Italian architects Citterio-Viel & Partners are leading the redesign, which will elevate the public plaza to sidewalk level and feature a circular cutout that will allow light to reach newly created 35,000 square feet of below-grade retail.

The cost of the renovation wasn’t immediately clear, though a source told the Post it should fall in the “mid-to-high eight digits.” Bill Edwards, senior vice president at the Rockefeller Group, indicated that construction will start after the company finds an anchor tenant for the retail space. He expects the project to be finished by 2019.

In April, accounting firm Deloitte inked a 98,000-square-foot lease at the 2.65 million-square-foot office tower. Rockefeller owns 55 percent of the building, and the China Investment Corporation owns the rest. The sovereign wealth fund bought the stake from Canada Pension Plan for more than $1 billion last year. [NYP]Kathryn Brenzel


Related Articles

arrow_forward_ios
Korean wave pours into U.S. commercial real estate

Korean wave pours into U.S. commercial real estate

Korean wave pours into U.S. commercial real estate
The Martinique hotel (Wikipedia, Google Maps)

Operator of Martinique Hotel in Manhattan files for bankruptcy

Operator of Martinique Hotel in Manhattan files for bankruptcy
CEO Mark Tritton and 410 East 61st Street (Getty, Google Maps)

Bed Bath & Beyond will permanently close UES store

Bed Bath & Beyond will permanently close UES store
A rendering of 556 West 22nd Street (Photo by BASIS Independent Schools)

Private school to expand in former Chelsea Art Museum building

Private school to expand in former Chelsea Art Museum building
With about $23 billion of hotel-related CMBS loans in forbearance, more lenders are looking to offload those mortgages. (iStock)

Hotel industry is in trouble and more lenders want out

Hotel industry is in trouble and more lenders want out
Industry City CEO Andrew Kimball with Amazon CEO Jeff Bezos (Photos via Getty; iStock; Industry City)

Real estate hits bottom as Industry City abandons plan

Real estate hits bottom as Industry City abandons plan
Burlington CEO Michael Sullivan and 2163 Tilden Avenue (Burlington via Facebook; Google Maps)

Burlington Coat Factory inks big lease in Brooklyn

Burlington Coat Factory inks big lease in Brooklyn
Carmel Partners CEO Ron Zeff (JLL)

Carmel Partners sells Norwalk apartment complex valued at $157M

Carmel Partners sells Norwalk apartment complex valued at $157M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...