The Durst Organization is renovating its 26-story office building at 114 West 47th Street in Midtown Manhattan, with plans to complete the project by 2029. The 600,000-square-foot building will feature a new lobby, high-quality tenant amenities, and private terraces on seven floors.
The renovation is prompted by the upcoming expiration of U.S. Trust’s lease, which has occupied the base of the building since it was built in 1989. The current tenants, including four office tenants and one retail tenant, will remain in the building during the renovations.
Renovation Plans
The building will have a new lobby with gray granite floors and concave paneled white oak walls, as well as soft seating to provide a calm and tranquil atmosphere. The lobby will extend into a 2,500-square-foot tenant lounge and conferencing center, featuring a cafe area and seating for group and individual meetings.
According to Eric Engelhardt, senior vice president of commercial leasing at Durst, the renovation presents a rare opportunity for companies to position themselves in prime Midtown with a renovated, world-class work environment. The building will feature office environments with ceiling heights between 12 and 14 feet, floor plates running between 18,000 and 32,000 square feet, and an abundance of natural light.
Tenant Amenities
The tenant lounge and conferencing center will be a key amenity for tenants, providing a space for morning coffee and evening socializing. The building will also feature private terraces on seven floors, offering stunning views of the city. The Durst Organization is working with architect HOK to design the new lobby and amenity spaces.
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Kenneth Drucker, design principal at HOK, said the original lobby was designed in the 1980s and featured a lot of multi-use of stone. The new design aims to unify the spaces and create a sculpted lobby with a series of continuous fluted walls and a monolithic look.
For companies looking for a new headquarters in Midtown, 114 West 47th Street offers an ideal location combined with the quality, sustainability, and stewardship that the Durst Organization is known for, according to Mary Ann Tighe, CBRE’s New York tri-state CEO.
Market Opportunity
The renovation of 114 West 47th Street presents a significant market opportunity, with the potential to attract major tenants looking for a high-quality, sustainable work environment. The building’s location, just off Sixth Avenue, makes it an attractive option for companies looking to establish a presence in Midtown.
Jody Durst, president of the Durst Organization, said the renovation is a chance for visionary companies to position themselves in prime Midtown with a renovated, world-class work environment. The project is expected to be completed by 2029, with the building available for occupancy shortly after.
