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