Building's beauty makeover wins it Pinnacle Award.501 Seventh Ave., a W&H Properties office tower in the Times Square South District, has won BOMA/NY's prestigious 2006 Pinnacle Award for Renovated Building of the Year, announced Scott Pudalov, executive vice president of CB Richard Ellis CB Richard Ellis Group, Inc. NYSE: CBG is a multinational real estate corporation currently based in Los Angeles, California, U.S.A.. On December 20, 2006, the corporation, also known as CBRE, completed acquisition of Trammell Crow Co. in a transaction valued at $2. , the property's exclusive leasing and managing agent. "It's a suitable acknowledgment of a three-year transformation," he said. "The building's pre- and post-renovation contrast is remarkable. When the improvements program was launched in 2003, the building didn't stand out in any way. Prominent tenants and their brokers weren't interested. To day, it's one of the most distinguished addresses in the neighborhood, home to such high-profile companies as The Warnaco Group The Warnaco Group, Inc. is an American fashion corporation. It is based out of New York City. The company had annual revenues in 2004 of over $1.4 billion USD. The company owns several brands, such as: Warner's, Olga, Lejaby, Rasurel, part of Calvin Klein, Catalina, Speedo, and , Carolina Herrera Carolina Herrera could refer to either:
501 Seventh Avenue's present occupancy rate of 99%--approximately triple the rate of 2003--reflects the renewed interest in the property. The $53 million capital improvement program that led to the BOMA/NY award included the installation of a state-of-the-art air conditioning system, new electrical and security systems, new elevators, corridors, bathrooms and windows and a fully renovated lobby. Through this program, 501 Seventh Ave. was transformed into a modern building, catering to a mix of traditional garment tenants and office users. "Clearly, the scope of the renovations was impressive enough to give 501 Seventh Ave. an edge in the BOMA Boma (bō`mə), city (1984 pop. 197,617), Bas-Congo province, W Congo (Kinshasa), on the Congo River estuary. A port and railhead, it exports tropical timber, bananas, cacao, and palm products. competition," sais Pudalov. "It's important to note that the award is open to any renovated building in Manhattan that meets certain criteria. Eligibility extends to the most prestigious properties owned by the 'who's who' of Manhattan landlords." The award reflects the long-term vision of the ownership, he added. Located at W. 37th St., 501 Seventh Ave. contains approximately 500,000 s/f of class A office space. The building offers convenient access to 11 subway lines. Access to 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 Long Island Railroad and 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 is also available at Penn Station, one block away. 501 Seventh Ave. is owned by 501 Seventh Avenue Associates LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a partnership led by Peter L. Malkin and Leona Helmsley. |
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