NEW YORK – Institutional joint-venture partners, Nightingale Properties and Wafra Capital Partners have secured a more than $500 million acquisition and construction loan to reposition and redevelop the 1.2 million-square-foot property, 111 Wall St.
Utilizing the debt package, the partners plan to reposition the 25-story property into a class A office destination in downtown Manhattan. The redevelopment will include customizable office space designed by Studios Architecture and tenant amenities designed by URBN Playground. The partners will implement touchless and smart-building technology throughout the tower.
The partners will additionally implement a tenant-only amenity program totaling more than 40,000 square feet across the property's basement and ground floor. The tenant amenities will comprise a 125-seat conference center, a multi-purpose room, event space, a bike and scooter charging room, a café and barista bar and a fitness center.
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.
Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
