Launches In-House Leasing Campaign for 115,000 SF of Office Space on 12,600 SF Floorplates, Unveils Extensive Capital Improvement Plan to Update Property
NEW YORK, July 22, 2013 /PRNewswire/ — RFR Realty LLC announced that its in-house leasing team is now offering 115,000 square feet of prime loft office space at 90 Fifth Avenue, a 140,000-square-foot property located at the corner of Fifth Avenue and 14th Street. All of the office space in the building is currently available, meaning prospective tenants have leasing opportunities for nine full floors of 12,600 square feet each. RFR will deliver the same Class A, high service management style that has attracted and retained tenants throughout the RFR portfolio.
(Photo: http://photos.prnewswire.com/prnh/20130722/PH51110)
In conjunction with the leasing campaign, RFR is rolling out a capital improvement plan for 90 Fifth Avenue. The comprehensive renovation program includes a new lobby with rotating art program, new elevator cabs, new bathrooms and common areas, and upgraded building infrastructure. RFR will also add a new, multi-purpose 2,500-square-foot landscaped roof terrace exclusively for tenant use. The terrace will welcome organized tenant events as well as employees seeking outdoor space for relaxation. In addition, RFR will undertake exterior restoration and refinish the storefronts.
"90 Fifth Avenue is perfectly suited to our portfolio of architecturally significant office buildings in New York," said Aby Rosen, Co-Founder and Principal of RFR Holding LLC. "This location at the crossroads of Manhattan's hottest growth neighborhoods will make the office space appealing to a variety of businesses, and with 200 feet of frontage on the corner of 14th Street and Fifth Avenue the asset simply can't be duplicated."
90 Fifth Avenue's boutique floor plate size (12,600 square feet), high ceilings, large windows, and abundant natural light on three elevations will appeal to media and technology firms that are seeking space in the Midtown South market. The property's location provides an immediate connection to Union Square, one of the City's highest density areas for popular nightlife, restaurant, and retail destinations. Situated just one block from Union Square on the 14th Street corridor, 90 Fifth Avenue thus offers genuine work/life amenities for its tenants. Transportation is also abundant in the area, and several college and university buildings are nearby.
At present, nine full floors of 12,600 square feet each are offered, and 1-5 floor users are likely given the tenant base in the area. Additionally 90 Fifth Avenue offers the rare opportunity for a single office tenant to control 115,000 contiguous square feet in one of the tightest submarkets in the country. The building is not landmarked, which also presents a large block tenant with a naming/branding opportunity. Asking rents for the upper floors of office space are in the lower 80s per square foot.
Oliver Katcher and A.J. Camhi will handle the leasing effort for RFR Realty.
Since opening its New York office in 1991, RFR has built a world-class portfolio of commercial and residential real estate, including many of New York's signature office towers, ultra-luxury condominiums, hotels and high-end retail developments. The company's unique combination of European sophistication and American ingenuity has brought the firm to the forefront of the real estate industry.
About RFR
RFR is a fully integrated real estate investment firm based in New York City with a core focus on select urban markets in the United States and Germany. Founded by Aby Rosen and Michael Fuchs in the early 1990's, the firm has been an active force in the New York City and German real estate market for much of the past two decades. RFR's portfolio has grown to include more than 100 properties located in select domestic and international markets. While its property portfolio is anchored in the Manhattan and key German commercial markets, RFR also has significant commercial, residential, hotel, and retail holdings. RFR has a proven track record of adding significant value to the properties it acquires through property-level repositioning and strategic financial engineering. RFR has created an organization with deep experience in all phases of the property life cycle and is positioned to take advantage of market opportunities.
Contact:
Great Ink Communications, Ltd. – 212-741-2977
Roxanne Donovan Email
Eric Waters Email
Alyson Leiter Email