275 Seventh Avenue
Seizing the Moment
Tishman Real Estate Services started working with the owner of 275 Seventh Avenue, the asset was tired and commoditized. The tenant mix included banks, lawyers, health services, architects and others. Located further West on 7th Avenue, the 600,000 square foot office building sat on the fringe of the existing Midtown South market.
Over the course of next four years, Tishman transformed the asset into a Class A “TAMI Friendly” building by overseeing all decisions and providing specialty services to maximize the property’s future cash flow Tishman’s strategic plan focused on:
- Building a new lobby, including security, commensurate with Class A office
- Creating a separate medical entrance off 26th Street with two dedicated elevators to service floors 2-5
- Removing retail awnings and created new signage standard for all retail tenants
- Replacing key building personnel including the property manager and leasing team
- Working with the leasing team to develop and implement a new prebuilt and overall leasing program to target TAMI tenants, leasing over 150,000 square feet to date
- Hiring a team of architects, engineers, expediters, and construction managers to oversee all physical work at the building.
As the building transformed, rents moved up dramatically, net operating income increased 108% and occupancy hit 98%.
investment case studies
Qualified Opportunity Zone
Making Our Own Opportunity
We liked the opportunity zone structure so much, we built our own vehicle to maximize diversification.
Optimizing operations for brands
Ricky Choi’s Outerspace wants to help entrepreneurs turn operations into an asset.
Tishman credit opportunities
Unfazed by disruption
How Tishman moved quickly to step in during uncertain times.
REalty case studies
Walt Disney World Swan Reserve
More Magic at Disney
How our team transformed underutilized space to create another signature asset within our portfolio.
E Walk - Times Square
Small Spaces, Big Impact
Re-imagining use and layout to create an urban power center in the heart of Manhattan.
110 E 16th Street
Creating Value Out of Air
Thinking out of the box helped turn a nine-story garage into a one of a kind development opportunity in Union Square.
When others left the city for dead, we decided it was time to roll up our sleeves.