News
THAT'S DEDICATION
March 18, 2010
| Metropole Realty Advisors CEO Robert Siegel is a dedicated owner—he lived in the 681 Fifth Avenue’s penthouse for 8 years, had his real estate development offices there for over 10, and was the building manager before purchasing it from the Fortunoff family in ‘05. We met him and MKDA’s Stan Judovits to discuss the building’s complete gut renovation. |
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| The 85k-SF boutique building kept its façade, but the interior is being pre-built into 42-wide, 110-feet deep, 5.8k-SF floorplates with minimal columns, new tilt windows, and 14 foot-high ceilings, giving it a European-type feel. Its most unique offering is the duplex penthouse floor, with expansive Central Park views and 7.6k SF of combined space, excluding the bonus terraces and gardens (pictured). And Metropole is including Italian glass partitions and 20-ton personal HVAC units on each floor. It also features a remote freight elevator, separating industrial traffic from tenants and guests. |
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| The 12th floor, where Metropole resides, is finished (it'll be moving to the 16th soon) and shows potential tenants how space can be built out. A pre-lease has been signed for 12, and Tommy Hilfiger has already moved in to the 22k-SF retail space. Robert says that because of the location and quality, he hopes to attract “nothing but the most discerning” tenants, like fashion companies and financial firms, to the other 60k SF, marketed by a Mitch Konsker-led Cushman & Wakefield leasing team. And Robert knows plenty about luxury: Metropole also developed the LVMH Tower, owns retail properties on Madison Avenue and Beverly Hills’ Rodeo Drive, among others, and is the exclusive broker to Long Island’s Americana Manhasset. |
