Features, Finance, New York

Silverstein Renovates Equitable Building $50M

October 23, 2017

By Stephanie West

A plan to renovate and update one of the oldest Class-A office buildings in New York City is underway. The Equitable Building at 120 Broadway, was built in 1915 as the largest office building in the world and the first with passenger elevators. Silverstein Properties, which purchased the building in 1980, will spend $50M on the project. Architectural firm Beyer Blinder Belle, a tenant of 120 Broadway, will be leading the redesign, which will center around a bronze grille-patterned theme. A combination of grille and glass will replace green marble in the archway above the entrance, allowing considerably more natural light into the lobby. The lobby will see an updated roster of retail options in the building.

After a renovation of the energy systems in 2014 that gave the Equitable Building EnergyStar certification, Silverstein Properties continues to invest in the property to keep pace with new construction in New York, such as the nearby World Trade Center, which Silverstein is also developing. In August, MacMillan Publishing signed a long-term lease to move to 120 Broadway from the Flatiron Building.

 

October 23, 2017

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