ATCO, a family-run investment firm led by H. Dale Hemmerdinger and based in Midtown, purchased the 18-story, 165,000-square-foot office building in 2016 from RPW Group for $108 million. In October, the company established a joint venture partnership with Israeli insurance company Migdal Group for the property. ATCO maintained a 51 percent ownership interest in the building, while Migdal took the remaining stake.
The company has made several renovations to the building since purchasing it and is currently upgrading the elevator.
Last year, ATCO leased 47,000 square feet of space in the building between renewals and new tenants. These include a 10,000-square-foot, 10-year renewal with Newsday, an 11,000-square-foot five-year renewal with fashion designer Jason Wu and a new 12-year lease for 5,000 square feet with Café Metro.