Williams Equities has announced a major capital improvements program for its property located at 28-40 West 23rd Street in the Flatiron District. The company has secured a $155 million CMBS loan to fund these upgrades, which will enhance both the office and retail spaces.
Leading architect George Boyle will oversee the renovations, which include upgrading the atrium with a new glass cube and extended skylight to maximize natural lighting. Other plans include adding a triplex penthouse suite with private roof deck as well as a communal roof deck offering stunning views of Madison Square Park and the Empire State Building.
Formerly known as Ladies’ Mile department store, this 578,105-square-foot property is currently home to various creative, digital, and tech firms. Home Depot serves as its long-standing retail anchor on the ground floor, lower level,and mezzanine levels. Previous upgrades have included modernized lobbies and energy-efficient infrastructure updates. Notable office tenants include Ramp Technologies Inc.and Estee Lauder’s Aramis brand.
This latest development by Williams Equities marks an exciting renovation project for this iconic FiDi building that is sure to attract even more top-tier tenants in New York City’s bustling commercial real estate market.
