101 Greenwich Street: From a Class B to a Class A Office Tower

New York, NY – Owner and operator Cove Property Group and Owner Bentall Kennedy, working with Montroy DeMarco Architecture LLP (MDALLP), have completed the extensive redevelopment of 101 Greenwich St. (formerly Two Rector St.) a 26-story, 481,000 SF office building in Lower Manhattan’s Financial District.  MDALLP worked with the Beaux Arts building’s owners to reposition the property from a class B to a class A office tower through architectural and infrastructure upgrades.

Of the $75 million construction budget for the redevelopment of the 111 year old building, 75% of it went toward technology and mechanical, electrical and plumbing (MEP) upgrades, refreshed common areas and new elevators.  The property was redesigned to achieve a LEED Silver rating.

Richard DeMarco, AIA, MDALLP’s principal-in-charge of the design for the repositioning, noted that Cove and its partners were interested in attracting TAMI (Technology, Advertising, Media and Information industries) tenants, as well as those from the financial and hospitality industries.  “TAMI tenants and increasingly, more progressive tenants in other market segments – are demanding a different kind of office space.  They want well-lit spaces with expansive open plan areas and fewer private offices.  The floor’s best views, for example, are now used for communal areas rather than executive offices,” DeMarco explained.

In addition to MDALLP, the project team included The Sweet Construction Group, which served as the construction manager during the upgrades.  Sweet also provided reconstruction services prior to the start of construction, creating budgets for various options while negotiations were taking place.  Other project team members were mechanical, plumbing, and electrical (MEP) engineer MG Engineering and lighting consultant zeroLUX.

Source: Mid Atlantic Real estate Journal