{"id":1004085237,"date":"2013-10-16T06:41:43","date_gmt":"2013-10-16T14:41:43","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004085237"},"modified":"2022-12-08T09:32:32","modified_gmt":"2022-12-08T17:32:32","slug":"rfr-to-give-manhattans-285-madison-a-65m-makeover","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/rfr-to-give-manhattans-285-madison-a-65m-makeover\/","title":{"rendered":"RFR to Give Manhattan’s 285 Madison a $65M Makeover"},"content":{"rendered":"

By Barbra Murray, Contributing Editor<\/em><\/p>\n

\"Retail<\/a>

Retail rendering<\/p><\/div>\n

There’s a new future in store for the Manhattan office building at 285 Madison Ave., and its owner, RFR Holding L.L.C., has just revealed the details. The 530,000-square-foot office tower is undergoing a $65 million repositioning that will convert the vacant property into a premier, state-of-the-art Midtown office destination that will add a little recreation to the workplace.<\/p>\n

Sited just one block from Grand Central Station, the corridors of 285 Madison have been mostly silent since RFR and Green Oak Real Estate acquired the 26-story building for roughly $190 million from owner\/occupant Young & Rubicam in December 2012. Now, STUDIOS Architecture has come aboard to spearhead the property’s transformation inside out.<\/p>\n

And the timing is right for the project, according to commercial real estate services firm CBRE Group, which has been tapped by RFR to spearhead leasing at 285 Madison.<\/p>\n

“The tenant community is increasingly gravitating toward buildings that afford a work\/lifestyle balance for their employees,” a member of the CBRE leasing team told Commercial Property Executive<\/em>. “Buildings that are in close proximity to a park and can offer other on-site amenities are at a competitive advantage.”<\/p>\n

The end result of 285 Madison’s reinvention will be an office property with premier workspace and a list of amenities designed to place relaxation and recreation within users’ immediate reach. Tenants will be able to make use of event space, a caf\u00e9 and kitchen, and activity space featuring billiards and the like.<\/p>\n

“The renovation of 285 Madison will allow tenants to leverage the central location in Midtown with a host of lifestyle benefits including a landscaped roof deck, fitness center with showers, a bicycle room and tenant lounge,” the CBRE leasing team member added.<\/p>\n

The tower’s infrastructure will get a boost with new elevators and HVAC system, and the entrance and lobby of the 1920s-era building will be reconceived. Additionally, 40,000 square feet of retail space will be offered.<\/p>\n

RFR is also taking 285 Madison green with LEED Silver certification.<\/p>\n

The capital improvement campaign is on track to reach completion in the first quarter of 2014.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

The 530,000-square-foot office tower is undergoing a $65 million repositioning that will convert the vacant property into a premier, state-of-the-art Midtown office destination that will add a little recreation to the workplace.<\/p>\n","protected":false},"author":952,"featured_media":1004085240,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21782,11,1600,21742,10,21747,21749,21786],"tags":[],"class_list":["post-1004085237","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-development","category-midatlantic","category-new-york","category-latest","category-northeast","category-office","category-retail","category-sustainability"],"acf":[],"yoast_head":"\nRFR to Give Manhattan's 285 Madison a $65M Makeover - 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\/rfr-to-give-manhattans-285-madison-a-65m-makeover\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RFR to Give Manhattan's 285 Madison a $65M Makeover\" \/>\n<meta property=\"og:description\" content=\"The 530,000-square-foot office tower is undergoing a $65 million repositioning that will convert the vacant property into a premier, state-of-the-art Midtown office destination that will add a little recreation to the workplace.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/rfr-to-give-manhattans-285-madison-a-65m-makeover\/\" \/>\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=\"2013-10-16T14:41:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T17:32:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/10\/285-Madison-Avenue-Retail.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"672\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Anna Spiewak\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/rfr-to-give-manhattans-285-madison-a-65m-makeover\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/rfr-to-give-manhattans-285-madison-a-65m-makeover\/\",\"name\":\"RFR to Give Manhattan's 285 Madison a $65M Makeover - 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