{"id":1004180225,"date":"2017-06-13T00:35:10","date_gmt":"2017-06-13T08:35:10","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004180225"},"modified":"2022-12-08T08:56:50","modified_gmt":"2022-12-08T16:56:50","slug":"two-west-side-manhattan-towers-to-undergo-ambitious-upgrades","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/two-west-side-manhattan-towers-to-undergo-ambitious-upgrades\/","title":{"rendered":"NYC Towers to Undergo Ambitious Upgrades"},"content":{"rendered":"<p>By Scott Baltic<\/p>\n<div id=\"attachment_1004180230\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/512-Seventh-Ave.-in-New-York-City.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004180230\" data-attachment-id=\"1004180230\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/two-west-side-manhattan-towers-to-undergo-ambitious-upgrades\/512-seventh-ave-in-new-york-city\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/512-Seventh-Ave.-in-New-York-City.jpg\" data-orig-size=\"640,512\" data-comments-opened=\"0\" 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;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"500-512 Seventh Ave. in New York City\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/512-Seventh-Ave.-in-New-York-City.jpg?w=640\" class=\"wp-image-1004180230 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/512-Seventh-Ave.-in-New-York-City.jpg\" alt=\"500-512 Seventh Ave. in New York City\" width=\"300\" height=\"240\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/512-Seventh-Ave.-in-New-York-City.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/512-Seventh-Ave.-in-New-York-City.jpg?resize=300,240 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004180230\" class=\"wp-caption-text\">500-512 Seventh Ave. in New York City<\/p><\/div>\n<p>The two office towers at 500-512 Seventh Ave. in Manhattan will undergo a \u201cmajor capital improvements program,\u201d it was announced by Cushman &amp; Wakefield, which will be ownership\u2019s exclusive agent for the buildings. The towers total 1.1 million square feet and sit not far from the massive Hudson Yards development.<\/p>\n<p>Cushman\u2019s Bruce Mosler, Ethan Silverstein, Mitchell Arkin, Haley Fisher and Whitney Anderson will lead the property\u2019s leasing and marketing efforts. Cushman &amp; Wakefield Asset Services personnel Joseph Manasseri, Sal Ariganello, Sheila Mahaney, Alan Cohen, Teresa Ginyard and Alice Chen will handle property management, lease administration and client accounting services.<\/p>\n<p>Cushman &amp; Wakefield is supplanting Newmark Knight Frank, according to information provided to <em>Commercial Property Executive<\/em> by Yardi Matrix, which also indicates that the property\u2019s owner is The Moinian Group. The 16-story Class B building at 500 Seventh was completed in 1921, and the 45-story Class A building at 512 Seventh was completed in 1930.<\/p>\n<p>The ambitious capital improvement effort comes as the towers have 400,000 square feet (36 percent) of space available for lease. The improvements program includes infrastructure and cosmetic upgrades to the elevators, HVAC system and retail facade, with the lobbies to be completely updated with contemporary glass and metal finishes. Work on the upgrades, which were designed by Spivak Architects, is expected to begin by the third quarter.<\/p>\n<h2>Wide Floorplates and Good Neighbors<\/h2>\n<p>In a prepared statement, Cushman\u2019s Mosler cited the buildings\u2019 wide floorplates and location near Hudson Yards, in addition to the pending improvements, as likely to attract tenants. The location, on Seventh Avenue between West 37th and West 38th streets, is also close to Penn Station, the 33rd Street PATH station at Herald Square, Grand Central Terminal and the Port Authority.<\/p>\n<p>In one of the biggest recent deals at Hudson Yards, BlackRock <a href=\"https:\/\/www.commercialsearch.com\/news\/blackrock-to-move-nyc-hq-to-50-hudson-yards\/\">agreed to lease 850,000 square feet<\/a> at the 58-story, 2.9-million-square-foot 50 Hudson Yards tower for its global headquarters.<\/p>\n<p><em>Image courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The buildings completed in the 1920s and 30s total 1.1 million square feet and sit not far from the massive Hudson Yards development.<\/p>\n","protected":false},"author":882,"featured_media":1004180230,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,1600,21742,10,21747],"tags":[34896,36007,33991],"class_list":["post-1004180225","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-featured","category-new-york","category-latest","category-northeast","category-office","tag-cushman-wakefield","tag-newmark-knight-frank","tag-the-moinian-group"],"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>NYC Towers to Undergo Ambitious Upgrades - 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\/two-west-side-manhattan-towers-to-undergo-ambitious-upgrades\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NYC Towers to Undergo Ambitious Upgrades\" \/>\n<meta property=\"og:description\" content=\"The buildings completed in the 1920s and 30s total 1.1 million square feet and sit not far from the massive Hudson Yards development.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/two-west-side-manhattan-towers-to-undergo-ambitious-upgrades\/\" \/>\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=\"2017-06-13T08:35:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T16:56:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/512-Seventh-Ave.-in-New-York-City.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"512\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\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\\\/two-west-side-manhattan-towers-to-undergo-ambitious-upgrades\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/two-west-side-manhattan-towers-to-undergo-ambitious-upgrades\\\/\"},\"author\":{\"name\":\"Scott Baltic\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/61ac1450f3ffaa0e850b834c28526555\"},\"headline\":\"NYC Towers to Undergo Ambitious Upgrades\",\"datePublished\":\"2017-06-13T08:35:10+00:00\",\"dateModified\":\"2022-12-08T16:56:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/two-west-side-manhattan-towers-to-undergo-ambitious-upgrades\\\/\"},\"wordCount\":339,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/two-west-side-manhattan-towers-to-undergo-ambitious-upgrades\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/06\\\/512-Seventh-Ave.-in-New-York-City.jpg\",\"keywords\":[\"Cushman &amp; 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