Stellar Management is conjuring up a substantial amount of
additional leasable space in its
renovation of 161 Ave of the Americas and adjacent 233 Spring Street, a pair of pre-war buildings it acquired for $200M two years ago. (Even David Blaine is impressed.)
We snapped Stellar’s
Ryan Jackson and C&W’s
Jodi Roberts (who’s leasing the 768k SF with colleagues
Josh Kuriloff, Jamie Katcher, Jonathan Fales, and Matthias Li) in 161’s marketing suite. Stellar and partners Rockpoint Group and Imperium Capital are consolidating all the systems for both properties
in a new, 100k SF tower in what is now a 19-foot-wide shaft between the two properties. That means one set of nine
destination-dispatch elevators to serve both buildings, plus the opportunity to do all new building mechanicals, including a condenser water plant.
In fact, the
mechanical tower will become an architectural addition to the skyline, set back 20 feet but
200-feet deep and rising
taller than the original pair of buildings. Designed by Gensler, it features poignant bands of light, a rare
ornamentation for space that won’t be occupied by tenants. (A completely empty building? Wasn't there a Twilight Zone episode like this?) Stellar also is adding a 66k SF, three-story, glass-walled
penthouse space across three floors at 233 Spring, for which the
first steel shipment arrived just last week. It’ll deliver by October with loads of terraces and a 20k SF roof deck.
All three structures combined will be known as One SoHo Square when complete in fall 2015. We snapped this of the loading dock (below the now-empty shaft) that'll become the two-story, shared lobby. That project will start this year and sits across from the two-block Park at Spring + Sixth, which Hudson Square BID is fixing up, and 233 Spring’s loading docks to the left beg to become retail as Spring Street goes upscale.
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