{"id":1004067919,"date":"2013-02-27T08:09:37","date_gmt":"2013-02-27T16:09:37","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004067919"},"modified":"2022-12-08T13:07:02","modified_gmt":"2022-12-08T21:07:02","slug":"midtown-manhattan-readies-for-cutting-edge-470-ksf-office-tower","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/midtown-manhattan-readies-for-cutting-edge-470-ksf-office-tower\/","title":{"rendered":"Midtown Manhattan Readies for 470 KSF Cutting-Edge Office Tower"},"content":{"rendered":"<p><em>By Barbra Murray, Contributing Editor<\/em><span style=\"font-size: 13px;line-height: 19px\">\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/02\/7-Bryant-Park-1.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004067920\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/midtown-manhattan-readies-for-cutting-edge-470-ksf-office-tower\/7-bryant-park-1\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/02\/7-Bryant-Park-1.jpg\" data-orig-size=\"450,800\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"7 Bryant Park &#8211; 1\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/02\/7-Bryant-Park-1.jpg?w=450\" class=\"alignleft size-medium wp-image-1004067920\" title=\"7 Bryant Park - 1\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/02\/7-Bryant-Park-1.jpg\" alt=\"\" width=\"168\" height=\"300\" \/><\/a><\/p>\n<p>The future is coming to Midtown Manhattan. A partnership comprised of real estate company Hines, investment entity Pacolet Milliken Enterprises Inc. and institutional investors advised by J.P. Morgan Asset Management have broken ground on 7 Bryant Park, a premier office tower that will deliver 470,000 square feet of state-of-the-art office accommodations in the Bryant Park area.<\/p>\n<p>Hines and partners will erect the 28-story office building on a site that formerly carried the address of 1045 Avenue of the Americas. It&#8217;s a speculative development and commercial real estate services firm CBRE Group Inc. has been tapped to lure leading companies to the property, which will also include ground-level retail space to be marketed by RKF.<span style=\"font-size: 13px;line-height: 19px\">\u00a0<\/span><\/p>\n<p>The celebrated architectural firm of Pei Cobb Freed &amp; Partners is behind the design of the high-rise which is LEED Gold Pre-Certified, a designation that will satisfy office users&#8217; growing demand for green digs. However, though widely coveted, the sustainability seal of approval is not what Hines and team are touting as 7 Bryant Park&#8217;s most remarkable distinction; it&#8217;s the offering of advanced accommodations that is the key feature.<\/p>\n<p>As the developers note in a press release, the trophy office property is designed to respond to tenants&#8217; increasingly loud cry for modern infrastructure and top-tier technology.\u00a0 While there are certainly sizeable slices of contiguous office space on the market in Midtown&#8211;major new availabilities include chunks ranging from 82,000 square feet to 311,000 square feet, per a CBRE report&#8211;most of them are not state-of-the art.<\/p>\n<p>&#8220;There are big blocks available, but at some point that&#8217;s much older product, decades older, and I think there&#8217;s a different type of tenant that demands and requires 21st Century space,&#8221; Dan Fasulo, managing director with global commercial real estate research and consulting firm Real Capital Analytics, told <em>Commercial Property Executive<\/em>.<\/p>\n<p>The 7 Bryant Park project also has timing on its side. It&#8217;s not the only office development in the works for Midtown, but it will be among the first to deliver. &#8220;It&#8217;s coming out of the ground, whereas a lot of the other new building availabilities are still pieces of dirt,&#8221; Fasulo added.<span style=\"font-size: 13px;line-height: 19px\">\u00a0<\/span><\/p>\n<p>And then there&#8217;s the issue of high visibility; 7 Bryant Park is being marketed as a building that can provide a major tenant with a notable branding presence.<\/p>\n<p>&#8220;It&#8217;s very rare in Midtown to be a space-user of 150,000 square feet or more and get the opportunity to anchor a new building, and the fact that it&#8217;s on Bryant park is icing on the cake,&#8221; Fasulo concluded.<span style=\"font-size: 13px;line-height: 19px\">\u00a0<\/span><\/p>\n<p>Turner Construction Co. is onboard the development endeavor as general contractor, and is on schedule to complete 7 Bryant Park for its initial occupancies in the first quarter of 2015.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The future is coming to Midtown Manhattan. A partnership comprising real estate company Hines, investment entity Pacolet Milliken Enterprises and institutional investors advised by J.P. Morgan Asset Management have broken ground on 7 Bryant Park, a premier office tower that will deliver 470,000 square feet of state-of-the-art office accommodations in the Bryant Park area.<\/p>\n","protected":false},"author":969,"featured_media":1004067920,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,21783,11,1600,21742,21747],"tags":[],"class_list":["post-1004067919","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-featured","category-investment","category-midatlantic","category-new-york","category-latest","category-office"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Midtown Manhattan Readies for 470 KSF Cutting-Edge Office Tower - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/midtown-manhattan-readies-for-cutting-edge-470-ksf-office-tower\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Midtown Manhattan Readies for 470 KSF Cutting-Edge Office Tower\" \/>\n<meta property=\"og:description\" content=\"The future is coming to Midtown Manhattan. A partnership comprising real estate company Hines, investment entity Pacolet Milliken Enterprises and institutional investors advised by J.P. Morgan Asset Management have broken ground on 7 Bryant Park, a premier office tower that will deliver 470,000 square feet of state-of-the-art office accommodations in the Bryant Park area.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/midtown-manhattan-readies-for-cutting-edge-470-ksf-office-tower\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-02-27T16:09:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T21:07:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/02\/7-Bryant-Park-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"450\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/midtown-manhattan-readies-for-cutting-edge-470-ksf-office-tower\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/midtown-manhattan-readies-for-cutting-edge-470-ksf-office-tower\\\/\"},\"author\":{\"name\":\"Barbra Murray\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d1edda962dd3af55af8a203870f9fc32\"},\"headline\":\"Midtown Manhattan Readies for 470 KSF Cutting-Edge Office Tower\",\"datePublished\":\"2013-02-27T16:09:37+00:00\",\"dateModified\":\"2022-12-08T21:07:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/midtown-manhattan-readies-for-cutting-edge-470-ksf-office-tower\\\/\"},\"wordCount\":463,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/midtown-manhattan-readies-for-cutting-edge-470-ksf-office-tower\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2013\\\/02\\\/7-Bryant-Park-1.jpg\",\"articleSection\":[\"Development\",\"Featured\",\"Investment\",\"Mid-Atlantic\",\"New York\",\"News\",\"Office\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/midtown-manhattan-readies-for-cutting-edge-470-ksf-office-tower\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/midtown-manhattan-readies-for-cutting-edge-470-ksf-office-tower\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/midtown-manhattan-readies-for-cutting-edge-470-ksf-office-tower\\\/\",\"name\":\"Midtown Manhattan Readies for 470 KSF Cutting-Edge Office Tower - 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