News
Birthday Facelift
July 1, 2010
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| After seeing the Joan Rivers documentary, we have to ask: How about celebrating your 100th birthday with a facelift? That's precisely what Rockrose Development Corp. and TPG Architecture are doing for 300 Park Avenue South, upgrading the office building's lobby and elevators, while leaving its early 20th Century design intact. Rockrose acquired the building in '99 and originally planned to convert the entire building to either a hotel or residential, SVP Patricia Dunphy tells us. Most tenants are planning to vacate this December, so there will be significant leasing opportunities in January. The first, modeling agency Wilhelmina, decided to renew last week. Individual 12.7k SF single floors are available and there's already a lease out on the 8k SF retail space. |
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| On the development front, Rockrose pulled back on new projects when the market began to head south, including the stalled 4300 Crescent St. in Long Island City. But it may soon be time to start developing again, Patricia tells us. Meanwhile, the firm is focused on finishing 200 Water St. (above), near South Street Seaport, and 4705 Center Blvd. in Long Island City. 200 Water's tenant gym and lounge are newly renovated, and the building just reached a major milestone: it's 100% leased-576 studio to three-bedroom units have rented in under one year since the building opened. 4705 Center Blvd., which is 98% occupied on the residential side, just finished leasing its entire retail portion to The Food Cellar grocery store,Skinny's Cantina restaurant, CBRE's LIC office, Duane Reade, and Emily's Salon and Spa. |
