200 Fifth Success: All in the Planning

NEW YORK CITY-The headquarters expansion last month by Tiffany & Co. to another full floor at L&L Holding Co.‘s 200 Fifth Ave. did more than elevate the jeweler into the property’s largest tenant at 405,489 square feet. It also brought 200 Fifth to 100% occupancy of its 800,000 square feet of office space, and along with the subsequently announced Lego deal for 7,703 square feet of retail space at the property, set the seal on L&L Holding’s success in repositioning the former International Toy Center.

To hear David Levinson, chairman and CEO of L&L Holding, tell it, the 24-karat asset that 200 Fifth became was a matter of planning and experience coupled with imagination. “What we do is take properties and reimagine them,” he tells GlobeSt.com. “When we looked at 200 Fifth, we saw a very large building in a part of town that was accelerating a transformation of where people would want to office,” namely Midtown South—which now has the lowest vacancy rate of any of Manhattan’s three submarkets.