https://commercialobserver.com/2021/08/office-building-terraces-cost-maintenance/
Office Building Terraces Bloom During COVID
New York developers are hedging their bets on outdoor spaces — yes, even in winter — continuing a long trend
A TERRACE AT ONE WILLOUGHBY SQUARE, A NEW OFFICE TOWER IN DOWNTOWN BROOKLYN
BY DAVID M. LEVITT
AUGUST 31, 2021
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It started as a nice amenity to have and, as time has marched on, it has become a must-have.
These days, you almost can’t build an office building without including some outdoor space for people to relax on, to work on, or from which to just see the world differently.
And, as COVID increasingly causes people to question why spend so much time in the car or on the train when you can be just as productive on your laptop at your kitchen table, with the delta variant out there and the odds of getting sick dwindling the more time you spend outdoors, outdoor terraces make more sense than ever.
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”We’ve been involved in office space and building design, and the evolution of office buildings, for 40 years,” said Dan Kaplan, a senior partner at the architecture firm FXCollaborative and designer of One Willoughby Square, a new office tower in Downtown Brooklyn. “And, over the last 10 to 12 years, the demand for exterior space in office buildings has grown, and, with the pandemic, it has really exploded.”
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In late 2019, before the pandemic hit, commercial real estate brokerage CBRE did a survey and found that of 10 office buildings under construction in Manhattan, nine had outdoor space. Eighteen of the 24 buildings built in the 2010s also had outdoor space.
The trend was particularly visible in new construction in Midtown South, a hotbed for young technology and creative companies, the study said.
Michael Slattery, associate CBRE field research director, New York tri-state region, who co-wrote the study with Nicole LaRusso, CBRE senior director of research and analysis for the Northeast, said the trend has continued since the study.
“Not only have we seen new construction come forth over the last little bit, with the focus on differentiating themselves in a very large market, but a top-class building has all the amenities these tenants are looking for, and green space, outdoor space, is definitely near the top of that list,” Slattery said. “There are plenty of great buildings that are older and vintage, and might not have the ability to activate terraces to provide outdoor space, but this is a place where all owners and landlords are looking to set themselves apart.”
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Pharmaceutical giant Pfizer, best-known now for being the first to receive Food and Drug Administration approval for its COVID vaccine, agreed in 2018 to move its headquarters to The Spiral, taking about 800,000 square feet in the 2.8 million-square-foot tower. Investment management firm AllianceBernstein agreed the following year to take another 189,000 square feet.
The intention is to make the terraces accessible to employees year-round, Bergmann said, even in winter, though, ultimately, it will be up to tenants to determine the extent of access. Bergmann noted that many New York apartment dwellers have outdoor balconies that they use all year, and he expects the same at The Spiral.
“You can look around in Manhattan and there are plenty of buildings that have outdoor terraces,” he said. “Our hope is that the terraces will still function and offer coworkers a chance to actually get fresh air on the same floor where they have their desks, as opposed to having to travel all the way down to the lobby.”
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The plan for The Spiral was put together well before COVID became a factor, but at a point where outdoor space was becoming a fairly common enticement. It’s not well known, but Rockefeller Center, which dates from the 1920s and which Tishman Speyer also controls today, has activated rooftops on all of its high-rise buildings, Bergmann said — not to mention the famous pedestrian plaza at its base with its Christmas tree and skating rink.
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Another example of where the outdoors are being worked in is at what’s now called 660 Fifth Avenue. Brookfield Properties, one of the world’s largest commercial real estate owners, bought the ground lease in 2018 for the tower formerly known as 666 Fifth Avenue. It then announced a makeover.
“We don’t look at it as something that is optional,” said Callie Haines, Brookfield executive vice president and head of the company’s New York and Boston regions. “Outdoor space is part of a larger amenity-rich package that landlords can be offering.”
The 39-story tower at 660, built in the 1950s, is undergoing a $400 million redevelopment, which will include an entirely new utility system. Like a lot of Manhattan office skyscrapers, it was built with a tall, narrow tower jutting out from a broad base. The Brookfield plan is to take advantage of the base by opening the top of it to tenants, creating an eighth-floor outdoor space. The company also plans to open up ledges on the 10th, 11th and 15th floors. Each tenant will have the opportunity to hire their own designer to finish out the space, and to determine what to do with it in the winter.
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NEW YORK is Back!
“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
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