{"id":1004240045,"date":"2018-07-04T22:49:43","date_gmt":"2018-07-05T06:49:43","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004240045"},"modified":"2022-12-08T08:37:50","modified_gmt":"2022-12-08T16:37:50","slug":"iwbi-relocates-manhattan-office","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/iwbi-relocates-manhattan-office\/","title":{"rendered":"IWBI Relocates Manhattan Office"},"content":{"rendered":"
\"220<\/a>

220 5th Ave.<\/p><\/div>\n

International WELL Building Institute has leased 9,000 square feet at a 20-story office high-rise in Manhattan\u2019s Flatiron District. As WELL certification has been gaining ground<\/a> across U.S. real estate markets, the company was seeking a new space which would reflect its culture.<\/p>\n

Located at 220 5th Ave., the roughly 135,000-square-foot asset provides tenants with proximity to several subway lines and the PATH train. A number of attractions such as the Flatiron Building, the Shake Shak and Eataly are also located in the area. IWBI\u2019s new pre-built office will be situated on the 8th floor of the building, two blocks from the tenant\u2019s current location at 381 Park Ave. S.<\/p>\n

Brian Waterman, Andrew Peretz, David Malawer and Brent Ozarowski of NKF represented landlord Stellar Management in the lease negotiations,\u00a0while Michael Baraldi and Laura Pomerantz of Cushman & Wakefield worked on behalf of the tenant.<\/p>\n

Improvements underway<\/h2>\n

Stellar Management and Imperium Capital acquired the 1912-built property in 2017 from Dino & Sons for $50 million, according to Yardi Matrix data. Following the transaction, the new owners started a capital improvement program which includes renovating the lobby as well as modernizing building systems. The last renovations were completed in 1988.<\/p>\n

\u201cBy definition, our team is passionate about their office surroundings and our intention is to pursue WELL certification for our space, using the opportunity to experience the benefits of WELL across every concept\u2014air, thermal comfort, water, light, sound, materials, movement, nourishment, community and mind,<\/em>\u201d said IWBI\u2019s chairman & CEO Rick Fedrizzi, in prepared remarks.<\/p>\n

Image courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The company has completed a 9,000-square-foot lease in the Flatiron District and plans to pursue WELL certification for its new space.<\/p>\n","protected":false},"author":242,"featured_media":1004240048,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21743,1600,21742,10,21747],"tags":[32799,34431,36007,40958,34658,34432],"class_list":["post-1004240045","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-deals","category-new-york","category-latest","category-northeast","category-office","tag-cushman-wakefield","tag-international-well-building-institute","tag-newmark-knight-frank","tag-rick-fedrizzi","tag-stellar-management","tag-well-certification"],"acf":[],"yoast_head":"\nIWBI Relocates Manhattan Office - 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\/iwbi-relocates-manhattan-office\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IWBI Relocates Manhattan Office\" \/>\n<meta property=\"og:description\" content=\"The company has completed a 9,000-square-foot lease in the Flatiron District and plans to pursue WELL certification for its new space.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/iwbi-relocates-manhattan-office\/\" \/>\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=\"2018-07-05T06:49:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T16:37:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/220-5th-Ave.-New-York-City.png\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Roxana Baiceanu\" \/>\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\/iwbi-relocates-manhattan-office\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/iwbi-relocates-manhattan-office\/\",\"name\":\"IWBI Relocates Manhattan Office - 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