ABS PARTNERS ANNOUNCES EXTENSIVE CAPITAL IMPROVEMENT PROJECT AT 20 WEST 22nd ST.
NEW YORK, N.Y. (November 14, 2011)ABS Partners Real Estate, LLC, one of New York City’s foremost real estate services firms, announced that the firm is midway through a major capital improvement program at 20 West 22nd St., an 180,000-square-foot property in the Flatiron District.
“The building is being upgraded – aesthetically, mechanically and technologically - to meet the needs of today’s tenant,” said Hector Rodriguez, Managing Director, ABS Partners Real Estate. “Constructed 100 years ago, the building was designed and built to serve as home for several of the city’s large printing companies. Today we count architects, marketing and creative companies, technology startups, public relations and advertising firms as our tenants. Similar to the former printers, these companies are creating products for New Yorkers and the nation, but are using computers, telephones and technology to do so.”
The current capital improvement program includes the conversion of the building’s two freight elevators to automated passenger cars. This process is doubling the building’s passengercapacity, bringing the total to four passenger elevators. As the cab work nears completion, the ABS team is finalizing details on a new design for the building’s current freight lobby to appropriately serve its new dual passenger/freight role. With this upgrade the building will have two lobbies, the combination of which provides tenants with 24 hour, 7-day access.
On the technology front, the building’s management team has been working to increase the variety, capacity and redundancy of voice and data connections available to tenants. 20 West 22nd Street now boasts redundant high capacity connectivity via microwave point-to-point, fiber optic, coax-cable and copper lines. These services are available through a number of third party providers.
Other planned improvements in the 17-story building include full renovation of all bathrooms on shared floors as well as a new signage initiative, the design of which will create a uniform look throughout building while allowing for the individual creativity of the tenants.
Rodriguez explained. “The signage will be uniform and professional, but still reflect the creative nature of the eclectic tenant roster that includes architects, public relations and advertising firms.”
These upgrades and initiatives under the direction of the building agent team of John L. Gols, executive managing director, Jason Fein, associate managing director and Rodriguez have taken the building to near 100 percent occupancy.
About ABS Partners Real Estate
ABS Partners Real Estate, LLC is a premier New York-based real estate services firm delivering best-in-class landlord representation. Founded by industry leaders with more than a century of collective experience, ABS has assembled a dynamic team of professionals with expertise in all facets of real estate services, including owner-advisory services, leasing, sales and property management. ABS also specializes in land use and ground lease consultation, the transfer of development rights, fractional ownership valuation, FAR valuation, and services specifically related to the issues faced by families holding real estate for multiple generations.
For more information, visit www.absre.com.