Paramount Group plans $250M facelift for 60 Wall

Makeover kicks in as Deutsche Bank departs

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.

Read more

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.

Sign Up for the undefined Newsletter

By signing up, you agree to TheRealDeal Terms of Use and acknowledge the data practices in our Privacy Policy.

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