Paramount Group plans $250M facelift for 60 Wall

Makeover kicks in as Deutsche Bank departs

New York /
May.May 17, 2021 11:00 AM
Paramount CEO Albert Behler and 60 Wall Street (Getty, Paramount Group)

Paramount CEO Albert Behler and 60 Wall Street (Getty, Paramount Group)

Paramount Group is planning a $250 million transformation for its soon-to-be-vacant office building at 60 Wall Street.

The renovation of the 47-story, 1.6 million-square-foot skyscraper — which was designed by Kevin Roche John Dinkeloo & Associates and opened in 1989 — aims to bring openness to the structure by adding more windows to its lower floors, while updating its ventilation system with MERV 15 filtration, according to the New York Post.

The plan, conceived by Kohn Pedersen Fox, will also give the building’s privately owned public space a facelift with a 100-foot-tall green wall. A large staircase would also connect the atrium with the Wall Street subway station below, though that element is subject to approval from the MTA.

The major makeover — which is expected to be begin next year — was prompted by the necessity: The building’s last tenant, Deutsche Bank, will vacate the property next year as it heads to its new home at Time Warner Center.

CBRE’s Paul Amrich and Howard Fiddle will lead a leasing team for 60 Wall on behalf of Paramount. The team may be facing an uphill battle: 80 Pine Street and 111 Wall Street are also trying to fill large office space available for lease at a time when Manhattan office availability is at a record high.

But Paramount CEO Albert Behler is confident the renovation will attract new tenants.

“With the reimagining of the building, 60 Wall will compete with the best in Manhattan, including new construction,” he said.

[NYP] — Akiko Matsuda





    Related Articles

    arrow_forward_ios
    These are the tallest towers underway in NYC
    These are the tallest towers underway
    in NYC
    These are the tallest towers underway
    in NYC
    A new competition asks what would houses on Mars look like (Credit: Getty Images, Pixabay)
    Architecture’s final frontier: Here’s what houses on Mars might look like
    Architecture’s final frontier: Here’s what houses on Mars might look like
    Brookfield Properties' Callie Haines (iStock, Brookfield Properties)
    Hedge funds, investment firms rare bright spot for office leasing
    Hedge funds, investment firms rare bright spot for office leasing
    Savills' Jim Wenk (LinkedIn, iStock, Illustration by Kevin Cifuentes for The Real Deal)
    Office space up for sublease back on the rise
    Office space up for sublease back on the rise
    Ron Perelman with 35 East 62nd Street and 41 East 62nd Street (Getty, Google Maps)
    Ron Perelman’s former Lenox Hill offices hit market for $160M
    Ron Perelman’s former Lenox Hill offices hit market for $160M
    645 Madison Avenue (Google Maps, iStock)
    Private equity firm tightens grip on distressed Madison Ave building
    Private equity firm tightens grip on distressed Madison Ave building
    Empty boxes: As remote work endures, many office buildings are losing value
    Empty boxes: As remote work endures, many office buildings are losing value
    Empty boxes: As remote work endures, many office buildings are losing value
    v
    Rising interest rates weighing on Vornado’s earnings, Steve Roth says
    Rising interest rates weighing on Vornado’s earnings, Steve Roth says
    arrow_forward_ios

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

    Loading...