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Argent Ventures completes repositioning of Manhattan Mall.


Argent ar·gent  
n.
1. Heraldry The metal silver, represented by the color white.

2. Archaic Silver or something resembling it.
 Ventures has completed a two-year, $50 million repositioning repositioning Laparoscopic surgery The changing of a Pt's position during a procedure to improve access or visualization of the operative field, which may be linked to complications, as it changes anatomic planes of operation. Cf Laparoscopic surgery.  of the Manhattan Mall The Manhattan Mall is a shopping mall located in Herald Square in the New York City borough of Manhattan, at 33rd Street and Sixth Avenue. There is a food court on the basement level, as well as entrances to the 34th Street-Herald Square subway station and the 33rd Street PATH , a property located on the Avenue of the Americas between 32nd and 33rd streets in Manhattan.

The repositioning effort included a facade restoration, the transformation of upper-floor retail space into commercial office space and the relocation of the shopping center's food court.

The Manhattan Mall, which Argent Ventures purchased in 1999, contains 13 floors, comprising 155,000 square feet of retail space below an 800,000-square-foot office building.

Prior to the repositioning, the shopping center shopping center, a concentration of retail, service, and entertainment enterprises designed to serve the surrounding region. The modern shopping center differs from its antecedents—bazaars and marketplaces—in that the shops are usually amalgamated into  had nine floors of retail space below four floors of office space.

The office space was entirely occupied by the Childrenswear Center, and nearly half of the retail space was occupied by Stern's Department Store and numerous smaller retailers.

"The upper level retail floors were frequented the least by shoppers and provided a greater opportunity for use as office space" said Mark Teitelbaum, COO of Argent Ventures.

"The conversion of this component to office space was immediately embraced by top-tier tenants."

The five floors directly beneath the Childrenswear Center, Level 3 through Level 7, now comprise 440,000 square feet of office space.

The new office floors feature Class A tenants such as Foote, Cone & Belding, a leading worldwide advertising agency that occupies 270,000 square feet in the building, and Bank of America
See also:  and


Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world.
, which occupies 180,000 square feet of space.

Foote, Cone & Belding recently installed a dramatic David Rockwell-crafted glass atrium above the shopping concourse within its commercial space.

The Childrenswear Center still occupies the top four floors of the building, Level 8 through Level 11, for a total of 360,000 square feet.

All four levels have been tailored to meet the requirements of its tenants: wholesalers of children's apparel.

It provides tenants with private interior escalators that exclusively serve the showroom floors, a central glass atrium offering full and multi-floor exposure to showroom displays, expansive display cases, comfortable seating and meeting areas in the center's lounge, and individual work stations with private phone service.

The four lowest floors of the property, Concourse Level 2 through Level 2, consist of 155,000 square feet of retail space, with the Food Court now located on Concourse Level 2.

The new Food Court was designed and created by Miami-based Arquitectonica, the same architectural firm An architectural firm is a company which employs one or more licensed architects and practices the profession of architecture. History
Architects (master builders) have existed since early in recorded history. The earliest recorded architects include Imhotep (c.
 behind the Westin New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of
 at Times Square.

The Manhattan Mall is located within the most highly trafficked retail corridor in the country--34th Street shopping district. The area surrounding the Manhattan Mall includes Herald Square Herald Square is formed by the intersection of Broadway, Sixth Avenue (officially named Avenue of the Americas) and 34th Street in the borough of Manhattan in New York City. It was named for the New York Herald, a newspaper originally headquartered there. , anchored by Macy's Department Store, which draws more than 100 million people each year, and the Empire State Building.

There are more than 625,000 office workers within a 15-minute walk of the Manhattan Mall as well as in excess of 30 hotels with nearly 12,000 rooms.

Currently, there are several thousand residential units under construction in the immediate area. Madison Square Garden Coordinates:

Current arenas in the National Hockey League

Western Conference Eastern Conference
, which hosts more than 600 events and five million attendees yearly, is just one block away.
COPYRIGHT 2003 Hagedorn Publication
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2003, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Article Details
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Publication:Real Estate Weekly
Geographic Code:1USA
Date:Dec 10, 2003
Words:498
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