1359 B'way success story.The occupancy rate at 1359 Broadway, a W&H building in the center of the garment district, has reached 89 percent, announces James D. Kuhn, president of Newmark, the building's leasing and managing agent. Only fifteen months ago, the rate was 50 percent. Several factors contributed to the dramatic rise in occupancy, explains Mr. Kuhn. "When the building became part of the W&H Properties portfolio in 2003, it was tired and required major capital improvements," he says. "Ownership envisioned something entirely different. So it launched a full-scale renovation plan that included a $54 million improvements program. Brokers and prospective tenants took note, and suddenly there was major leasing activity." Many of the new tenants leased space before or during the renovations, which are now near completion. Among the prominent new arrivals are Li & Fung, one of the world's leading trading groups; Keane, Inc. (NYSE NYSE See: New York Stock Exchange : KEA), an IT services firm; I-Deal, a vertical service supplier to the securities industry; Capital Mercury, a menswear manufacturer; The Redeemer Presbyterian Church Redeemer Presbyterian Church (PCA), founded in 1989, is a church located in New York City. Its senior pastor is Timothy J. Keller. Christianity Today has called Redeemer "one of Manhattan's most vital congregations. ; and The Parkinson's Disease Foundation. "The changes aren't just structural in nature," Mr. Kuhn points out. "The building looks beautiful now, but this is not the only reason that prestigious organizations have moved here. Our tenants also know that they can expect the highest standards of service and responsiveness from management and ownership." The building's capital improvement program includes new windows; new restrooms; a new HVAC (Heating Ventilation Air Conditioning) In the home or small office with a handful of computers, HVAC is more for human comfort than the machines. In large datacenters, a humidity-free room with a steady, cool temperature is essential for the trouble-free system; upgraded electrical systems; newer, faster elevator operating systems; new elevator cabs; refurbished public corridors; and a new lobby and entrance. The renovation also includes a high-end pre-built program that provides tenants with new, clean spaces in move-in condition. These units, which are ready for immediate occupancy, feature new ceilings, lighting, and flooring in highly efficient layouts. Located in the heart of Times Square South, at 36th Street, 1359 Broadway enjoys convenient access to the Long Island RailRoad, New Jersey Transit The New Jersey Transit Corporation (NJ Transit) is a statewide public transportation system serving the state of New Jersey, and Orange and Rockland counties in New York. It operates bus, light rail, and commuter rail services throughout the state, notably connecting to major , Amtrak Amtrak, the National Railroad Passenger Corp., authorized to operate virtually all intercity passenger railroad routes in the United States. Amtrak was created by Congress in 1970 in response to more than two decades of continuous operating deficits by privately run , the Port Authority Bus Terminal The Port Authority Bus Terminal often referred to merely as "The Port Authority" is the main gateway for interstate buses into Manhattan in New York City. It is operated by the Port Authority of New York and New Jersey. , PATH and fifteen subway lines. Part of the W&H Properties portfolio, 1359 Broadway is owned by Marlboro Building Associates LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a partnership led by Peter L. Malkin. Available space at 1359 ranges from 1,513 s/f to a full floor of 23,567s/f. |
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