A Boutique Office Tower Comes Together in NoMad

reprints


When architect-turned-developer Michael Kirchmann and his partner Alan Rudikoff decided to build a boutique office tower at 1245 Broadway in NoMad, they wanted the design to stand out from the crowd of new projects hitting the market in New York City.

SEE ALSO: CO Forum Explores How Real Estate Is Preparing for a Greener, Cleaner Future

So, the 23-story building has a 50-foot glass entry portal that is recessed roughly 20 feet from the sidewalk, creating a large outdoor space directly in front of the lobby and a long arcade in front of the building’s ground-floor storefronts. The structure also has a unique shape. It “wedding cakes” upward with a series of five different setbacks, which allow for large outdoor terraces spanning a few thousand square feet apiece.

The property has 20-foot ceilings in the lobby and 14- to 17-foot ceilings on the upper floors. And it’s been designed to be completely touchless, from the entryway to elevators to bathrooms, in addition to being equipped with state-of-the-art ventilation systems. Kirchmann and Rudikoff’s development firm, GDSNY, along with Swedish real estate company Klövern, are aiming for LEED Silver certification for the 200,000-square-foot building.

There are a few amenities, but the development team decided to keep it simple since the project is relatively small by office building standards. There will be a spacious lounge in the back of the lobby with fridges stocked with beverages, as well as fireplaces and a skylight. The basement will include bike parking, plus showers for bike commuters or early-morning gym-goers.

Asking rents range from $120 per square foot in the base to $150 per square foot on the top floors. Paul Amrich of CBRE, who’s handling the leasing, said that the building is providing a generous tenant improvement package and 12 months of free rent on a 10-year lease. Despite a dramatic slowdown in office leasing during the pandemic, Amrich said he feels confident about filling the building, which is scheduled to be complete next summer.

“I think our timing is very good because we don’t have to lease in this period,” said Amrich.

He added, “I think if you want to lease space you have to be a little more aggressive,” referencing the property’s TI package and free rent. Amrich also decided to think outside the box in terms of marketing the office space. The broker hosted a live Zoom tour of the construction site at Broadway and West 30th Street in late July, and he said it generated plenty of interest from tenant brokers.

“I think it’s a more engaging way for a broker to show an asset to this client,” he said. “Next week I’m going to go into town and do a bunch of these tours. When you can describe the benefits live, it’s that much more powerful.”