Hines, along with partners Pacolet Milliken Enterprises and institutional investors advised by JP Morgan Asset Management, has held a ceremony on the site of 7 Bryant Park, a landmark office tower in Midtown Manhattan.
New York City Mayor Michael R Bloomberg, who attended the ceremony, says: "The best days are still to come to Bryant Park - a place the city has worked hard to bring roaring back to life. 7 Bryant Park is set to become another iconic tower, and it will bring more top-tier, cutting-edge commercial space, and more leading companies and their tax revenue to Midtown Manhattan."
Turner Construction Company, the general contractor, began construction at the end of 2012, and first occupancy is planned for the first quarter of 2015.
Designed by architects Henry N Cobb and Yvonne Szeto of Pei Cobb Freed & Partners, the 28-story, 470,000-square-foot steel and glass tower will offer direct and expansive views of Bryant Park as well as the historic New York Public Library.
"We are privileged to develop a project of such distinguished design at this exceptional location, bringing a first-in-class office tower to the heart of Midtown Manhattan's business district," says Tommy Craig, senior managing director of Hines' Tri-State operations. "This pre-eminent property will serve as a singular opportunity for a major tenant seeking both a significant branding presence and new technologies to create an efficient, modern and forward-thinking workplace."
7 Bryant Park, located between West 39th and 40th streets on the site of the former 1045 Avenue of the Americas, will include 10-foot finished ceilings, full-height clear vision glass, two spacious outdoor tenth-floor terraces overlooking the park and multiple top-floor opportunities including the possibility for a signature "duplex" penthouse with outdoor space and sweeping views of the park. The building is LEED Gold Pre-certified, and will incorporate the infrastructure and technology tenants require for their businesses to excel in the 21st century.
The orientation of the steel and glass tower will capitalise on direct views over the park and past the historic New York Public Library. The building's entrance façade will be punctuated by a concave sculptural detail which cuts into the building in an hourglass shape, distinguishing the design and creating unique feature windows on every tenant floor. A floating stainless steel disc, measuring 46 feet in diameter, will be suspended over the corner entrance at 40th Street, serving as both a canopy and an architectural gesture facing the park, creating a memorable welcome point for tenants and their visitors.
7 Bryant Park will offer flexible interior customisation options as well as signature opportunities for corporate branding for anchor tenants. With 90 feet of frontage on Avenue of the Americas, the ground floor at 7 Bryant Park will offer select retail tenants a variety of branding opportunities and prominent exposure in one of New York City's most highly trafficked neighbourhoods.
CBRE is serving as the exclusive office leasing agent for the building, with the firm's chief executive for the Tri-State Region, Mary Ann Tighe, leading the team. RKF, led by chairman and CEO Robert Futterman, is serving as the exclusive retail leasing agent.