Rudin Management plans overhaul of Financial District tower

80 Pine Street will have 800K sf of vacancy soon

New York /
Oct.October 05, 2020 10:45 AM
80 Pine Street and Rudin Management CEO Bill Rudin (Google Maps; Getty)

80 Pine Street and Rudin Management CEO Bill Rudin (Google Maps; Getty)

Rudin Management is planning a major makeover of its 1.2 million-square-foot office tower at 80 Pine Street in the Financial District.

The 60-year-old building expects nearly 800,000 square feet of vacancy in the near future, the New York Post reported. That’s in part a result of American International Group’s move to 1271 Sixth Avenue; it will vacate several thousand square feet when it leaves the lower Manhattan tower.

The renovation project includes a new ground floor lobby and entryways designed by Fogarty Finger Architecture. New storefronts with decorative glass curtain walls are also part of the plan. The building opened in 1960 and was designed by Emery Roth and Sons.

The facelift is planned as Manhattan’s office market experiences a major downturn in the middle of the pandemic-driven recession. CBRE research director Nicole LaRusso told the Post that office leasing around Wall Street is down by more than 60 percent over its five-year quarterly average.

A JLL team of brokers will lead the leasing and marketing campaign for the available space at 80 Pine Street. Asking rents are in the mid-high $50s per square foot, according to the Post. [NYP] — Akiko Matsuda


Related Articles

arrow_forward_ios
Google CEO Sundar Pichai (Getty, iStock)
Google’s hybrid model will allow 20% of employees to work remotely
Google’s hybrid model will allow 20% of employees to work remotely
Illustration of Amazon's Jeff Bezos (Photo illustration by Kevin Rebong for The Real Deal)
No room in the warehouse: Amazon fuels shortage
No room in the warehouse: Amazon fuels shortage
RXR Realty's Scott Rechler with 75 Rockefeller Plaza (Getty, David Shankbone/Wikimedia)
RXR Realty serves American Girl with a lawsuit
RXR Realty serves American Girl with a lawsuit
SL Green's Marc Hollday, 635-641 Avenue of the Americas, Infor's Kevin Samuelson. (Infor, SL Green)
Software company Infor renews 90K sf Chelsea lease
Software company Infor renews 90K sf Chelsea lease
SL Green’s director of leasing Steve Durels and One Vanderbilt. (SL Green, One Vanderbilt)
SL Green to offer flex offices at One Vanderbilt
SL Green to offer flex offices at One Vanderbilt
Katie Kurtz and Silverstein Properties chairman Larry Silverstein (Silverstein, Getty)
Silverstein Properties hires Katie Kurtz as new CFO
Silverstein Properties hires Katie Kurtz as new CFO
U.S. District Court Judge Dabney Friedrich (Senate/Chris Coons, iStock)
Judge strikes down federal eviction ban
Judge strikes down federal eviction ban
Sam Zell of Equity Commonwealth and Michael Landy of Monmouth Real Estate Investment (Getty, ACRE)
Sam Zell acquires Monmouth Real Estate for $3.4B
Sam Zell acquires Monmouth Real Estate for $3.4B
arrow_forward_ios

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

Loading...