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New York Interest > Blog > Business > NYC luxury residential tower to feature secret ‘trophy’ space for commercial tenants
Business

NYC luxury residential tower to feature secret ‘trophy’ space for commercial tenants

NewYork Interest Team
Last updated: September 8, 2024 7:50 pm
NewYork Interest Team
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NYC luxury residential tower to feature secret ‘trophy’ space for commercial tenants
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Discover the new era of luxury and sophistication at 520 Fifth Avenue, where more than 200,000 square feet of premier office space is set to redefine Midtown’s skyline. Amid a towering beacon of opulence stretching 1,000 feet into the heavens, this Rabina-led marvel is poised to offer an unparalleled blend of 100 opulent condo homes and state-of-the-art office facilities by next year.

Designed with meticulous attention to detail by the renowned architects at KPF, this architectural masterpiece is characterized by its majestic, double-height, terra cotta-framed arched windows — a sight that captivates and enchants. However, it’s the ingeniously integrated 210,882 square feet of office space across the 9th to 34th floors that quietly whispers exclusivity and prestige. Offering boutique-sized offices, ranging from 6,500 to 12,000 square feet, these spaces are meticulously crafted for discerning tenants desiring unparalleled privacy and a distinct sense of identity.

Benjamin Bass of JLL, the executive spearheading the leasing campaign, highlights the unique appeal of these office spaces. Positioned to cater not only to niche financial entities but also a broader spectrum of industries, these offices stand out with their promise of a personalized arrival experience — a rare luxury in today’s market.

The allure of 520 Fifth Avenue extends beyond its walls, with its enviable proximity to the iconic Bryant Park and Grand Central Terminal acting as a magnet for potential tenants. Furthermore, amidst the tightening supply of trophy-quality office space in Midtown, this project confidently emerges as a beacon of opportunity, well-equipped to satisfy the growing demand for luxe working environments. Most office floors also feature sought-after outdoor spaces, including terraces or loggias, with future plans to unveil an extensive amenities center enhancing the allure of these offices.

Having transitioned leadership from Ceruzzi Properties and SMI USA in 2019, Rabina has injected new life into this once-stalled venture, securing a $540 million construction loan package in early 2022 to ensure the dream of 520 Fifth Avenue becomes a reality. As this architectural gem nears completion, it stands not just as a structure but as a testament to luxury, innovation, and the vibrant future of office spaces in New York City.

#520FifthAvenue #LuxuryLiving #OfficeSpace #NYCRealEstate #Midtown #LuxurySkyscraper #Architecture #RealEstateDevelopment

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