Quote:
Originally Posted by JMancuso
a lot of buildings look "dated" from the exteriors but continue to remain completive without being recladded. it's the lobby and interior space is what matters the most and 1515 broadway is one of the most recognizable buildings in midtown...something that potential tenants do look for, a building that stands out in the crowd.
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I think more than not, especially in today's overheated Midtown Manhattan office market, they're looking for the best of the new, class A office space. It goes beyond just the recladding. Just as with the Verizon, there's a lot more that goes into it.
New facade with a sleek, reflective curtain wall design.
-New two-story atrium lobby.
-New elevator cabs with glass and stone accents.
-New insulated windows.
-New HVAC systems providing tenant-controlled temperature and year-round availability.
-8 watts per square foot of electric capacity.
-New emergency generator providing 100% back up to critical life-safety systems.
-New state-of-the-art security system.
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If your an owner, and you want to compete with the new kids on the block, you'd better go all the way if you're gonna do it at all. Like I said, short of demolishing and starting fresh, this is the next alternative.