(Is Your Focus on Asset Performance or Best Practices in Building Management? Watch for Better Buildings, a new supplement to Real Estate Forum, launching in our February/March issue.)
NEW YORK CITY-The Hemsley Building in Manhattan’s Park Avenue submarket is LEED-ing the way – literally. After being awarded as “Building of the Year” 2011 by the Building Owners and Managers Association, the 1.4-million-square-foot beaux-arts style landmark was also given the Middle Atlantic Regional Award by BOMA, beating out properties in 16 other markets from Boston to Washington, DC.
Hani J. Salama, senior vice president of property management and operations at Monday Properties, tells GlobeSt.com that the awards signify a “great achievement” for the management team. “We could have went the easy route and gotten an award for being a historical building, but we didn’t,” he says, noting that the asset was constructed in 1929. “We wanted to get operating building of the year.”
The company—which acquired the property in December 2007—implemented a $100 million capital improvement program at the site, including renovations to the building’s fa
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
