NEW YORK CITY—In a city where much of the most modern office stock was built 30 years ago—and where those buildings are competing with shiny new inventory—owners of existing assets are finding that the best way to stand out from the crowd is capital improvement.

Three major owners in the city are embarking on large-scale programs to accomplish exactly that, and they spoke of their plans Tuesday during a meeting of NYC’s NAIOP chapter in Midtown. Robert Lapidus, president and CIO of L&L Holdings, spoke about the company’s plans for 390 Madison Ave.; Robert Jackson, EVP of the Rockefeller Group, spoke about the revision of the Time-Life Building, at 1271 Ave. of the Americas and Seth Pinsky, EVP of RXR, revealed the big refurbishment of Pier 57 that’s on the horizon.

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