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Filtered by Tag: Completed
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Daily News Building
The Daily News Building, one of Witkoff’s highest profile acquisitions, is a 1.2 million square foot, 476-foot high skyscraper in Midtown Manhattan. Built between 1929 – 1930 and designed by architects Raymond Hood and John Mead Howells in the Art Deco style, it was designated a New York City Landmark in 1981 (interior in 1998) and a National Historic Landmark in 1989. Following acquisition in 1996, Witkoff implemented a complete overhaul of building operations, including a substantial reduction in operating expenses, a rigorous capital improvement plan, and repositioning. Subsequently, the building achieved 100% occupancy, including attracting Omnicom, one of the world’s largest advertising agencies.
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Hilton Cabana Miami Beach
The Hilton Cabana Miami Beach is a 231-room beachfront hotel on Collins Avenue in Miami Beach’s “Millionaire’s Row” neighborhood just minutes from South Beach. Witkoff completed the development of this hotel after purchasing a note and gaining possession of the property through foreclosure in 2011. Development work, which won an award from Hilton for top conversion of the year, included preservation of the historically significant 1950s Miami Modern (MiMo) façade of the main building. Amenities include two outdoor pools, the Cabana Grill restaurant, and a fitness center.
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Shell-Mex House
In 1999, Witkoff acquired Shell-Mex House, a 550,000 square foot office building located on London’s Strand, a major thoroughfare in the City of Westminster, Central London. Originally constructed in 1931in the Art Deco style, this building is “listed” by the government as a property of special architectural or historic interest. Following acquisition, Witkoff undertook a comprehensive redevelopment and fully leased the building.
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The Capitol at Chelsea
The Capitol at Chelsea is a 39-story mixed-use property in Manhattan’s Chelsea neighborhood that Witkoff developed from the ground up. The land was acquired in 1999 and construction was completed in 2002. Upon completion, it featured 387 rental apartments and 83,000 square feet of retail and office space. Following stabilization, the property was sold to the JP Morgan Asset Management Core Fund.
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25-35 Greene Street
In 2000, Witkoff acquired the largest single portfolio of cast-iron buildings in downtown Manhattan’s SoHo neighborhood. The seller had assembled this portfolio of 10 mixed-use residential and commercial properties over approximately 50 years in connection with their family business. All but one of the buildings (676 Broadway) are within the SoHo-Cast Iron Historic District, which is designated by the New York City Landmarks Preservation Commission, listed on the National Register of Historic Places, and has been declared a National Historic Landmark. Following acquisition, Witkoff legalized and renovated the buildings and leased up all residential, commercial, and retail spaces.
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28-30 Greene Street
In 2000, Witkoff acquired the largest single portfolio of cast-iron buildings in downtown Manhattan’s SoHo neighborhood. The seller had assembled this portfolio of 10 mixed-use residential and commercial properties over approximately 50 years in connection with their family business. All but one of the buildings (676 Broadway) are within the SoHo-Cast Iron Historic District, which is designated by the New York City Landmarks Preservation Commission, listed on the National Register of Historic Places, and has been declared a National Historic Landmark. Following acquisition, Witkoff legalized and renovated the buildings and leased up all residential, commercial, and retail spaces.
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32-34 Greene Street
In 2000, Witkoff acquired the largest single portfolio of cast-iron buildings in downtown Manhattan’s SoHo neighborhood. The seller had assembled this portfolio of 10 mixed-use residential and commercial properties over approximately 50 years in connection with their family business. All but one of the buildings (676 Broadway) are within the SoHo-Cast Iron Historic District, which is designated by the New York City Landmarks Preservation Commission, listed on the National Register of Historic Places, and has been declared a National Historic Landmark. Following acquisition, Witkoff legalized and renovated the buildings and leased up all residential, commercial, and retail spaces.
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10 Hanover Square
Witkoff acquired 10 Hanover Square, located in Manhattan’s Financial District, in 1995. At the time, it was a 522,000 square foot office building. Following acquisition, Witkoff completed a gut renovation as part of an agreement to secure Goldman Sachs as a long-term tenant. When Goldman Sachs later vacated the building to move to their new corporate headquarters, Witkoff redeveloped the building into a 493-unit Class A rental building with ground floor retail and sold it to UDR, one of the largest national multi-family REITs.
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One Broadway
The International Mercantile Marine Company Building, also known as One Broadway, is a 185,000 square foot office building overlooking Battery Park and the New York Harbor in Manhattan’s Financial District. The building was originally constructed in 1882 and previous uses of the site included serving as headquarters for George Washington during the American Revolution. It was added to the National Register of Historic Places in 1991. Witkoff acquired One Broadway in 1996 through a purchase option made available by an existing tenant.
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55 Wall Street
Located in Manhattan’s Financial District, 55 Wall Street is a nine-story Greek Revival style building that was originally constructed from 1836 to 1842 to house the Merchants’ Exchange. It was designated a New York City Landmark in 1965 and was named a National Historic Landmark in 1978. Witkoff acquired 55 Wall Street in 2005 and redeveloped it into a Cipriani-branded condominium with 101 luxury residences, one of the largest event spaces in New York City, a private club, and a restaurant. Witkoff’s redevelopment achieved the highest relative value per square foot in the Financial District.
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866 Third Avenue
Located in Midtown East on Third Avenue between 52nd and 53rd Streets, 866 Third Avenue is a 31-story mixed-use building acquired by Witkoff in 1997. Following acquisition, Witkoff optimized the building’s value by creating three condominiums. Ground floor retail, which is retained by Witkoff, is fully leased. Floors 2 – 11 were sold to Memorial Sloane Kettering in 1997. Floors 12 – 31 were sold to Marriott International in 2004 and operate as a Courtyard Marriott Hotel.
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90 Long Acre
90 Long Acre is a 194,000 square foot office building located in London’s Covent Garden district. After acquiring this property in 2006 and redeveloping it, Witkoff successfully navigated a market down cycle before fully leasing vacant space. High-profile tenants have included Eurohypo AG, Virgin, and Regus.
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485 Lexington Avenue
485 Lexington Avenue is a 756,000 square foot, 32-story office tower located in Midtown Manhattan in close proximity to Grand Central Terminal. In 2004, Witkoff acquired this property in partnership with SL Green Realty Corporation. Together, the two firms undertook a major capital investment and remarketing program, which resulted in significant value appreciation.
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31 West 27th Street
In 2006, Witkoff acquired a 108,000 square foot office building in Manhattan’s Chelsea neighborhood from an estate managed by an institutional bank. Following acquisition, the firm began an active management plan, including buying out below-market tenants; making capital improvements to the lobby, windows, HVAC, and elevator systems; and re-marketing all spaces at market rate. Witkoff sold 31 West 27th Street in 2009.
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125 Broad Street
125 Broad Street is a 40-story Class A office tower located in Manhattan’s Financial District. In 1998, Witkoff purchased two condominium units totaling 525,000 square feet and fully leased all vacant space.
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72-76 Greene Street
In 2000, Witkoff acquired the largest single portfolio of cast-iron buildings in downtown Manhattan’s SoHo neighborhood. The seller had assembled this portfolio of 10 mixed-use residential and commercial properties over approximately 50 years in connection with their family business. All but one of the buildings (676 Broadway) are within the SoHo-Cast Iron Historic District, which is designated by the New York City Landmarks Preservation Commission, listed on the National Register of Historic Places, and has been declared a National Historic Landmark. Following acquisition, Witkoff legalized and renovated the buildings and leased up all residential, commercial, and retail spaces.
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