NEW YORK CITY-RFR Realty LLC is setting out to lease and simultaneously launch a capital improvement plan at the vacant 90 Fifth Ave. At its perch on the corner of 14th street, the 140,000-square-foot office building could cater to a wide variety of tenant types, RFR EVP Oliver Katcher tells GlobeSt.com.
“This space is perfect for forward-thinking companies of all types, including technology, media, and advertising firms, who are seeking loft space in the dynamic Union Square neighborhood,” he says. “With efficient floorplates and abundant natural light, we can accommodate tenants requiring prominent Midtown South headquarters space from a full floor to a large multi-floor block. RFR is also developing the property with elements that appeal to tenants seeking to offer employees a good workplace lifestyle. The rooftop terrace in particular will enhance the tenant experience and distinguish 90 Fifth Avenue from the competition.”
“RFR is developing the property with elements that appeal to technology, media, and advertising tenants seeking to offer employees a good workplace lifestyle,” Katcher adds. “We're focusing on tenants who require a prominent headquarters and a large block of Midtown South office space.” Katcher and A.J. Camhi, VP, will handle the leasing effort for RFR Realty.
Boasting nine full floors of 12,600 square feet each, the renovation program includes a new lobby with rotating art program, new elevator cabs, new bathrooms and common areas, and upgraded building infrastructure. RFR will also add a new, multi-purpose 2,500-square-foot landscaped roof terrace exclusively for tenant use. The terrace will welcome organized tenant events as well as employees seeking outdoor space for relaxation. In addition, RFR will undertake exterior restoration and refinish the storefronts.
“90 Fifth Avenue is perfectly suited to our portfolio of architecturally significant office buildings in New York,” says Aby Rosen, co-founder and principal of RFR Holding LLC. “This location at the crossroads of Manhattan's hottest growth neighborhoods will make the office space appealing to a variety of businesses, and with 200 feet of frontage on the corner of 14th Street and Fifth Avenue the asset simply can't be duplicated.”
Boasting floor plates of 12,600 square feet, high ceilings, large windows, and natural light on three elevations, nine full floors are available and 1-5 floor users are likely given the tenant base in the area. Additionally 90 Fifth Avenue offers a single office tenant the opportunity to control 115,000 contiguous square feet in one of the tightest submarkets in the country. The building is not landmarked, which also presents a large block tenant with a naming/branding opportunity. Asking rents for the upper floors of office space are in the lower $80s per square foot.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
