Located in the heart of Manhattan, the Meatpacking District is where New Yorkers want to live, work and play. It is one of NYC’s top office locations and also attracts leading global brand retailers, together with a diverse, high-paying tenant base that wants all the conveniences of modern buildings with the authentic character of older ones.
The redevelopment plan is a judicious mix of office and retail uses: It calls for the conversion of an iconic 43,273 rentable square foot landmarked building into an 85,050 rentable square foot building that integrates both, office and retail uses and also provides for the future redevelopment a residential component to optimize value. The plan is to restore the façades along Ninth Avenue and 14th Street to their original Greek Revival glory and build a contemporary new six-story glass and steel addition dedicated to office use. Interiors and systems will be updated and combine leading-edge infrastructure and technology with a chic-industrial flair.
A project of this size is rare, especially in a market where the foundation of retail, office, residential and hospitality use is so strong.
We have chosen to invest and act as a passive LP investor in the Meatpacking Plaza project with a top-tier local partner, thus benefiting from its longterm successful track record in major flagship real estate projects and core competence in this particular market.
|Construction Phase||16 Months||Frontage Feet||269|
|Lot Area SF||18, 453||Partners||Arel Capital LP|
|Existing Rentable SF||43,273||Tavros Capital
|Planned Office SF||54,906||Architect||BKSK Architects LLP|
|Planned Retail SF||22,930||Financing||Secured|