Schimenti Construction's new headquarters at 575 Lexington Ave.
NEW YORK CITY—Schimenti Construction is moving to a larger office space following years of growth and expansion. It's a company that's erecting some of the most well-known specialty retail, big box, luxury and restaurant properties. Their buildings range from Bed, Bath & Beyond, Barnes & Noble, Ann Taylor, Payless Shoe Store, Chipotle Mexican Grill to Harry Winston.
It has built many flagship stores including The Gap and Old Navy in Times Square as well as H&M in Herald Square. It also creates corporate interiors. The construction company has worked for well known developers including Brookfield Properties, Wharton Properties and SL Green.
Earlier this month, Schimenti moved its New York City headquarters from 622 Third Ave., between E. 40th and E. 41st streets, expanding its space at the Plaza District address of 575 Lexington Ave., between E. 51st and E. 52nd streets. The construction firm signed a 10-year lease for 14,000 square feet with Normandy Real Estate Partners. Other tenants in the building include WeWork and Cornell University. Schimenti declined to provide the lease price.
However, with the healthy economy and construction boom, the company reports it has been doing well. Schimenti says its annual revenue has nearly doubled over the past four years, increasing from approximately $150 million in 2014 to nearly $300 million in 2018.
“Our new Midtown headquarters will provide us with even more resources to keep delivering world-class results for our clients,” says Matthew Schimenti, the company's president. “We look forward to continuing our ongoing growth in New York and across the nation.”
The new offices have multiple conference rooms for larger company meetings and several smaller collaboration rooms. All office spaces include video conferencing capabilities. In addition to its NY and CT offices, the company is also expanding out west, recently opening an office in Irvine, CA.
In their New York City relocation, Cushman & Wakefield represented Schimenti and George Comfort & Sons represented the landlord.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
