Historic Manhattan Building Gets $100M Makeover

Image courtesy of Joe Taylor via Unsplash.com

Construction has begun on a $100 million redevelopment project at 122 Fifth Ave., a landmark building in Manhattan’s Union Square, which will modernize the 10-story tower with 300,000 square feet of office space and two levels of retail.

Omnibuild, a New York City-based building and construction company, is partnering with owner Bromley Cos. and STUDIOS Architecture, on the latest office building renovation in Manhattan.

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The gut renovation will be completed by the summer of 2022. Designed to modernize the building from the inside out, the redevelopment will include new MEP systems featuring advanced air filtration and passenger elevators with touchless technology. Brick masonry and precast stone will clad a new, 10-story addition on 17th Avenue to match the existing building’s landmarked façade. The main roof will include a new single-story steel and glass-enclosed pavilion pop-up, surrounded by green space, landscape lighting and seating areas.

The renovation will create a new lobby and three points of entry at 17th and 18th streets and Fifth Avenue. It will have multiple amenity spaces for wellness and collaboration. The building has some of the largest floorplates on Lower Fifth Avenue ranging from 27,000 square feet to 34,000 square feet. Windows on all four sides will bring in expansive natural light. Ceiling heights will range from 11 feet and 6 inches to 13 feet and 5 inches. Tenants will also have horizontal and vertical expansion opportunities within their workspaces.

John Mingione, principal & COO of Omnibuild, said in a prepared statement they are modernizing the building while maintaining its historical integrity. He said the project brings the old and new together in an exciting way. Notable renovation projects by Omnibuild include converting a historic, five-story warehouse at 512 W. 22nd St. into an 11-story, state-of-the-art office building with 172,000 square feet of office space.

122 Fifth Ave. was constructed in 1899 by architect Robert Maynicke and real estate developer Henry Corn. The T-shaped building was designated a New York City landmark in May 1989. The building is situated in the area known as the historic Ladies Mile District of Manhattan, which takes its name from the stretch of Broadway that was lined by fashionable shops in the latter part of the 19th Century.

Manhattan rehabs

STUDIOS Architecture is also renovating and repositioning several other older office buildings in Manhattan that are upgrading spaces for the post-pandemic world. In June, Nightingale Properties and Wafra Capital Partners received an acquisition and construction loan exceeding $500 million for the redevelopment of 111 Wall St., a 25-story, 1.2 million-square-foot tower in Lower Manhattan built in the 1960s. STUDIOS Architecture is leading the design plan for the office space while URBN Playground will oversee the design of a 40,000-square-foot tenant amenity space.

In April, a joint venture including Tribeca Investment Group, PGIM Real Estate and Meadow Partners unveiled renderings for a $350 million renovation project of the Textile Building, a 700,000-square-foot, 16-story building at 295 Fifth Ave. that dates back to 1920.