Waterman Interests, LLC, and HPS Investment Partners have launched a comprehensive redevelopment project for 850 Third Ave., a 605,000-square-foot, 21-floor office building near Grand Central Terminal in Manhattan. The 1961-vintage property currently offers the largest block of available space in Midtown East at approximately 450,000 square feet and will receive a substantial capital investment.
“This strategic capital redevelopment program positions the building for tenants who demand a modern infrastructure and appearance in a location that offers access to transportation, corporate density, and neighborhood amenities,” said Simon Wasserberger, managing director at Waterman. “The large block of space offers a single user numerous customization and branding opportunities at a time when there is very little exceptional space available in the market.”
MdeAS Architects is the building architect and Vocon is interior architect. Turner will lead construction, Cosentini will lead mechanical engineering and JLL will serve as leasing agent for the office space.
Rendering credit: Neoscape.
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