{"id":1004479414,"date":"2020-09-22T03:14:46","date_gmt":"2020-09-22T11:14:46","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004479414"},"modified":"2020-09-22T05:54:28","modified_gmt":"2020-09-22T13:54:28","slug":"boutique-manhattan-office-tower-tops-out","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/boutique-manhattan-office-tower-tops-out\/","title":{"rendered":"Boutique Manhattan Office Tower Tops Out"},"content":{"rendered":"
\"\"<\/a>

28 & 7. Rendering courtesy of GDSNY and Kl\u00f6vern<\/i><\/p><\/div>\n

Companies have been slow to return to their offices<\/a> in New York City, but that hasn\u2019t stopped a cross-border development duo from forging ahead on a new, boutique office tower in Manhattan\u2019s Chelsea neighborhood. The 12-story project, 28 & 7, recently topped out ahead of schedule and is set for completion in late 2021.<\/p>\n

Sweden\u2019s Kl\u00f6vern AB and New York City-based GDS Development are building the Class A tower at 322-326 7th Ave., adjacent to the Fashion Institute of Technology and just south of Penn Station, with Hudson Yards to the northwest. The pair of developers broke ground on the project late last year. Triton Construction serves as the general contractor.<\/p>\n

\n

READ ALSO:<\/strong> SL Green Opens Manhattan\u2019s Newest Supertall Skyscraper<\/a><\/p>\n

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Designed by Skidmore, Owings & Merrill, the building will offer 100,000 square feet of leasable office space with floor-to-floor heights of 13 feet and column-free workspaces spanning up to 40 feet. The property, designed to achieve LEED Silver and WELL certification, will be equipped with cutting-edge mechanical systems, carbon dioxide monitoring, triple-glazed windows and natural lighting. The 12th-floor penthouse will feature a landscaped outdoor terrace.<\/p>\n

Laying beams in NYC<\/h2>\n
\"\"<\/a>

28 & 7 under construction. Image courtesy of GDSNY and Kl\u00f6vern<\/i><\/p><\/div>\n

Kl\u00f6vern is one of Sweden\u2019s largest listed real estate firms, with nearly 350 properties totaling around 27 million square feet of lettable area. All of its New York City projects are being built in collaboration with real estate developer GDSNY, headed by architect Michael Kirchmann and Alan Rudikoff.<\/p>\n

A few blocks away from 28 & 7, the team is co-developing 1245 Broadway, a 23-story, 200,000-square-foot Class A office tower that recently topped out. The property is located at the corner of 31st Street and Broadway in the NoMad neighborhood. Kl\u00f6vern and GDSNY are also working on a 10-story, 131,320-square-foot office project at 118 10th<\/sup> Ave.<\/p>\n

CBRE, which is marketing 28 & 7, reported that 12.9 million square feet of new office projects were under construction in Manhattan at the close of the second quarter, with delivery dates through year-end 2023. New York City\u2019s moratorium on non-essential construction from March 27 to June 8 had little impact on the delivery timeline for the borough\u2019s major office developments.<\/p>\n

Office leasing activity in Manhattan plunged by 44 percent year-over-year in the first half of 2020 to 8.3 million square feet, including just 2.2 million square feet in the second quarter, but the market began to unfreeze in June. The tech industry accounted for 19 percent of total leasing activity in the second quarter, including TikTok\u2019s 232,000-square-foot lease<\/a> in Times Square and Match Group\u2019s 45,000-square-foot commitment in the Meatpacking District.<\/p>\n","protected":false},"excerpt":{"rendered":"

Sweden\u2019s Kl\u00f6vern AB partnered with New York City-based GDS Development for the 12-story project in Chelsea. <\/p>\n","protected":false},"author":744,"featured_media":1004479432,"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":[32789,50290],"class_list":["post-1004479414","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-cbre","tag-gds-development"],"acf":[],"yoast_head":"\nBoutique Manhattan Office Tower Tops Out - 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\/boutique-manhattan-office-tower-tops-out\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Boutique Manhattan Office Tower Tops Out\" \/>\n<meta property=\"og:description\" content=\"Sweden\u2019s Kl\u00f6vern AB partnered with New York City-based GDS Development for the 12-story project in Chelsea.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/boutique-manhattan-office-tower-tops-out\/\" \/>\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=\"2020-09-22T11:14:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-09-22T13:54:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/09\/GDSNY-287_featured.jpg\" \/>\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\/jpeg\" \/>\n<meta name=\"author\" content=\"Greg Isaacson\" \/>\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\/boutique-manhattan-office-tower-tops-out\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/boutique-manhattan-office-tower-tops-out\/\",\"name\":\"Boutique Manhattan Office Tower Tops Out - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/boutique-manhattan-office-tower-tops-out\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/boutique-manhattan-office-tower-tops-out\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/09\/GDSNY-287_featured.jpg\",\"datePublished\":\"2020-09-22T11:14:46+00:00\",\"dateModified\":\"2020-09-22T13:54:28+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/1a92010198045e41b0b801129a41b3d8\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/boutique-manhattan-office-tower-tops-out\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/boutique-manhattan-office-tower-tops-out\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/boutique-manhattan-office-tower-tops-out\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/09\/GDSNY-287_featured.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/09\/GDSNY-287_featured.jpg\",\"width\":800,\"height\":620,\"caption\":\"28 & 7. 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