CoStar Exclusive Manhattan’s Textile Building Shows Appeal of Old Structures to New Tenants
As big-name office tenants including KPMG and Franklin Templeton sign major leases to relocate to Manhattan’s Midtown South, a redeveloped century-old building spanning a full block has reached a milestone in a bid to be among the few properties with features such as large floor plates that corporate giants covet. A two-story, 34,000-square-foot glass penthouse designed by Studios Architecture has been completed at what’s known as the Textile Building at 295 Fifth Ave.
Forbes Imbuing Historic Buildings With Modern, Yet Respectful, Additions
Given the never-ending forward march of architecture and technology, it’s no surprise the buildings being developed today are growing ever sleeker, taller and more modern. As these slender splinters reach for the Manhattan sky, the dense urban landscape is being filled with architectural wonders unimaginable a few generations ago.
New York YIMBY 295 Fifth Avenue’s Two-Story Penthouse Addition Nears Completion in Midtown, Manhattan
Work is nearing completion on a two-story penthouse addition atop Manhattan’s historic Textile Building at 295 Fifth Avenue in Midtown South is nearly complete. Designed by Studios Architecture, the 34,000-square foot penthouse will contain a mix of collaborative workspaces and several landscaped terraces.
Commercial Observer Former Textile Showroom at 295 Fifth Avenue Becomes Boutique Offices
When Tribeca Investment Group, PGIM Real Estate and Meadow Partners took over 295 Fifth Avenue in 2019, they decided to convert the 1920s loft building from textile showrooms to high-end office space. After acquiring the 99-year leasehold for the 700,000-square-foot building for $375 million, they decided they wanted to keep the historic facade and add a two-story penthouse. The penthouse, which is part of a $350 million renovation, will be set back from the building to create outdoor space, and will be constructed out of floor-to-ceiling glass and antique bronze metal paneling.