{"id":1004091163,"date":"2014-02-12T07:30:31","date_gmt":"2014-02-12T15:30:31","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004091163"},"modified":"2022-12-09T02:55:46","modified_gmt":"2022-12-09T10:55:46","slug":"brookfield-to-start-200m-redevelopment-of-nycs-450-w-33rd-st","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/brookfield-to-start-200m-redevelopment-of-nycs-450-w-33rd-st\/","title":{"rendered":"Brookfield to Start $200M Redevelopment of NYC\u2019s 450 W. 33rd St."},"content":{"rendered":"<p><i>By Gail Kalinoski, Contributing Editor<\/i><\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/02\/450-W-33rd-St.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004091167\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/brookfield-to-start-200m-redevelopment-of-nycs-450-w-33rd-st\/450-w-33rd-st\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/02\/450-W-33rd-St.jpg\" data-orig-size=\"1610,1920\" 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=\"450 W 33rd St\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/02\/450-W-33rd-St.jpg?w=859\" class=\"alignleft size-medium wp-image-1004091167\" alt=\"450 W 33rd St\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/02\/450-W-33rd-St.jpg\" width=\"251\" height=\"300\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/02\/450-W-33rd-St.jpg 1610w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/02\/450-W-33rd-St.jpg?resize=252,300 252w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/02\/450-W-33rd-St.jpg?resize=768,916 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/02\/450-W-33rd-St.jpg?resize=859,1024 859w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/02\/450-W-33rd-St.jpg?resize=1288,1536 1288w\" sizes=\"auto, (max-width: 251px) 100vw, 251px\" \/><\/a><\/p>\n<p>Brookfield Office Properties is giving 450 West 33<sup>rd<\/sup> St. in New York City a $200 million makeover, modernizing it and integrating it with the firm\u2019s $4.5 billion, 7 million-square-foot Manhattan West mixed-use project.<\/p>\n<p>Work on the 16-story, 1.8 million-square-foot building, which will be renamed Five Manhattan West, will take place this spring and finish in summer 2016. Manhattan West is already under construction in the Hudson Yards district one block west of Penn Station and across from the Moynihan Station on city\u2019s West Side. <a href=\"https:\/\/www.commercialsearch.com\/news\/cities\/new-york\/brookfield-breaks-ground-on-4-5-billion-manhattan-west-development\/\">Manhattan West\u2019s $680 million first phase kicked off in January 2013, when Brookfield began installing a platform over the Hudson rail yards.<\/a> The platform should be completed later this year.<\/p>\n<p>450 W. 33<sup>rd<\/sup> St. was acquired by Brookfield in 2011. Built in 1969, it was last renovated in 2003. The building\u2019s precast concrete facade will be replaced with a \u201cpleated\u201d glass curtain that will create floor-to-ceiling windows on every floor. Interior renovations will include updating and expanding the lobby to \u201ccreate an art gallery feel.\u201d Six elevators will be added to the existing 10 and the HVAC and other mechanical systems will also be upgraded. Retail space on the ground level will be expanded.<\/p>\n<p>The building, which has a current occupancy of 77 percent, is one of eight buildings in Manhattan with more than 100,000 square feet of contiguous space on a single floor.<\/p>\n<p>\u201cThe building\u2019s unique mix of high ceilings and large, open floor plates are especially attractive to companies seeking this type of collaborative \u2018loft-like\u2019 space,\u201d Dennis Friedrich, Brookfield CEO, said in a news release.<\/p>\n<p>Brookfield and the firm\u2019s exclusive leasing agents \u2013 a Cushman &amp; Wakefield team led by Bruce Mosler and Josh Kuriloff \u2013 hope to attract technology and media companies that have been shut out of the hot Manhattan South submarket. The large floor plates are also attractive to financial companies.<\/p>\n<p>Current tenants, who include Associated Press, WNET and Coach, will be able to remain in the building during the redevelopment. <a href=\"https:\/\/www.commercialsearch.com\/news\/regions\/northeast\/nyc-mayor-reveals-luxury-plans-for-hudson-yards-development\/\">However, Coach will eventually be leaving 450 West 33<sup>rd<\/sup> St. for a new office building in Related Cos.\u2019 massive Hudson Yards development<\/a>. The luxury goods company announced in November 2011 that it was taking 600,000 square feet in a planned 51-story, 1.7 million-square-foot building in Hudson Yards, the 300-acre mixed-use project that will include 6 million square feet of office space, nine residential buildings and a retail complex.<\/p>\n<p>Brookfield\u2019s Manhattan West campus will include two office towers, a luxury residential tower, retail and a two-acre park. It will also have a boutique hotel, health and fitness facilities, rooftop gardens and numerous restaurants.<\/p>\n<p>\u201cManhattan West is a vital mixed-use real estate development and the redeveloped 450 W. 33<sup>rd<\/sup> Street gives the urban campus even greater depth and diversity,\u201d Friedrich said.<\/p>\n<p>REX is the architectural firm in charge of the redevelopment at 450 W. 33<sup>rd<\/sup> St. Adamson Associates is the executive architect on the project and Skidmore, Owings &amp; Merrill, L.L.P. is the structural engineer.<\/p>\n<p>Brookfield owns, develops and manages premier office properties in the United States, Canada, Australia and the United Kingdom. Its portfolio is comprised of 114 properties totaling 85 million square feet.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Brookfield Office Properties is giving 450 W. 33rd St. in New York City a $200 million makeover, modernizing it and integrating it with the firm\u2019s $4.5 billion, 7 million-square-foot Manhattan West mixed-use project.<\/p>\n","protected":false},"author":1068,"featured_media":1004091167,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,21752,1600,21742,21787],"tags":[],"class_list":["post-1004091163","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-featured","category-mixed-use","category-new-york","category-latest","category-technology"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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