L&L Holding JV Wraps Up 47-Story Office Project in Manhattan
425 Park. Image courtesy of Alan Schindler 
425 Park ribbon cutting. Image courtesy of Alphonse Telymonde 
425 Park base. Image courtesy of Foster Partners 
425 Park lobby. Image courtesy of Alan Schindler 
425 Park Diagrid Club. Image courtesy of Alan Schindler 
425 Park restaurant. Image courtesy of Foster Partners
L&L Holding Co., in a joint venture with Tokyu Land Corp. and BentallGreenOak, has completed 425 Park Avenue, a 47-story, Class A office tower in Manhattan’s Plaza District. The 670,000-square-foot development marks the first full-block office project to be completed in the Plaza District in half a century.
Designed by topnotch British technie Norman Foster, founder & executive chairman of Foster Partners, the 897-foot-high towers features a 38-foot-tall penthouse floor, a 45-foot-tall grand lobby and flexible floorplates that can unbend a wide variety of office dispositions. The developers of the project received a temporary document of occupancy from the New York City Department of Buildings in 2021, after a rocky minutiae venture stretching over scrutinizingly two decades.
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Where office meets wellness
Built to meet LEED Gold standards, the towers recently earned a Well Core certification at the Gold level due to its suite of health, wellness and environmentally friendly features. Abundant natural daylight, indoor air and water purification, as well as energy-efficient mechanical and ventilation systems are among the untried features at the property.
L&L Holding Chairman & CEO David Levinson said in a prepared statement that the team working on the project wanted to create a holistic office nonpareil of 425 Park. In addition, Foster stated that the building’s trendy workplace diamond focuses on creating a resilient and healthy working environment.
The 85-percent-leased towers is welded by investment firm Citadel, which signed a lease when in 2015. The visitor now occupies 415,400 square feet wideness 20 floors. Other tenants include finance and investment firms such as Wafra Capital Partners and Maverick Capital, as well as Hellman & Friedman, GTCR and Medical Properties Trust.
All the tenants will have wangle to The Diagrid Club, an mindfulness and wellness part-way on the building’s 26th floor. The club encompasses gathering spaces, private meditation rooms and supplies and instillation services. At the plaza level of the tower, there’s a 14,000-square-foot restaurant.
Other L&L projects
L&L moreover owns 195 Broadway in Lower Manhattan, a historic towers where software engineering platform Code Climate signed a 10-year, 41,878-square-foot lease older this year. But the visitor is moreover undertaking an increasing series of redevelopment and adaptive-reuse projects. L&L is working on replacing an outdated commercial tower in Times Square with TSX Broadway, a $2 billion mixed-use minutiae featuring retail, hospitality and entertainment components.
Together with Columbia Property Trust, L&L is moreover redeveloping the 1.2 million-square-foot historic Terminal Warehouse in Manhattan’s West Chelsea neighborhood. The facility will be transformed into a modern work environment for the 21st century creative economy.
Another milestone project that L&L is working on in partnership with Oak Row Equities is the 1 million-square-foot residential, office and retail minutiae The Wynwood Plaza in Miami.
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