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$25M project done at 111 Eighth Ave.

More than $25 million in capital improvements have been completed at 111 Eighth Ave., the 2.8 million-SF office building, and work continues with the renovation of the Ninth Avenue lobby and elevators.

The building, jointly owned by Taconic Investment Partners, LLC and The New York State Common Retirement Fund, is one of the largest commercial buildings in Manhattan by floor area and occupies the full block between Eighth and Ninth avenues and 15th and 16th streets. It houses a wide-variety of tenants including advertising agencies, publishers, financial institutions, fashion agencies and telecommunication firms.

The new Ninth Avenue lobby will feature marble walls and stone floors accented by a new extended height ceiling with custom lighting features. As part of the new building-wide security system a new visitors center will be created to service tenants and guests entering from Ninth Avenue. In addition, all of the Ninth Avenue passenger elevators will be completely modernized with new state-of-the-art solid state controls, new high speed motors and new cabs designed to complement the lobby.

"Tremendously flexible layouts, sweeping views of the city and harbor, and exceptionally reliable building systems have attracted tenants that want state-of-the-art office space coupled with a plethora of amenities," said Andrew J. Nick, a principal with Taconic.

Already complete, the Eighth Avenue lobby redesign includes finished stone floors and walls and an undulating metalpanel wall accented by a ceiling of glowing glass disks that provide a warm welcome for tenants and guests. Also part of the Eighth Avenue renovation was the modernization of all existing passenger elevators and the addition of two more passenger elevators.

One of the most sophisticated security systems available for commercial buildings was installed as part of the capital improvement program. It includes optical portal turnstiles controlled by card readers in each lobby. Tenants are issued photo ID badges and visitors are registered at an on-site visitor management center or through a web-enabled pre-registration system. Building security has also been enhanced with the upgrading of access control, alarm monitoring and closed circuit television systems that monitor the building entrances and critical building areas. In addition, a new portable radio relay system significantly enhances fire and rescue response capabilities.

Other capital improvements include common area hallways and bathroom renovations. In addition, electric power and generator capacity have been significantly enhanced and a new roof is complete. The building's large floorplates -- some over 200,000 rentable SF - allow ample opportunity for flexible and functional layouts. Tenants can create private offices, open floors plans, data centers, conference facilities and operational areas all on the same floor. 111 Eight Ave. is a powerhouse of extraordinary services and structural features. The 15-story building, the former Port Authority Commerce building, has nearly 15-foot ceilings, multiple fiber optics and extensive electric power capacity.
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Publication:Real Estate Weekly
Geographic Code:1USA
Date:Nov 6, 2002
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