Meyer, Plehn and Hecht of GVA Williams complete a 30,000 s/f lease at 218 West 18th Street

218 West 18th Street - New York, NY

New York, NY GVA Williams, exclusive leasing agent for 218 W. 18th St., has completed negotiations for a lease with Ascent Media, a division of Liberty Media Co., for 10 years totaling 30,000 s/f. The asking price was in the mid-$50's per s/f. The company will take the top three floors of the building, which is undergoing a unique transformation to attract creative businesses to its Chelsea location.

The 13-story building, sold earlier this year by GVA Williams principals to The Harch Group, was originally being converted to residences. Now the 175,000 s/f building is undergoing a major renovation to create innovative urban office space.

Improvements include a restored masonry and brick façade, all new window replacement, new state of the art 24 hour concierge attended lobby, new elevators, 11 ft. high ceiling heights, new retail entrance and renovated rooftop terrace. There will also be major HVAC, electrical and plumbing replacements and upgrades.

GVA Williams was retained as the exclusive leasing agent for the property. Martin Meyer is leading the leasing team, which also includes Eric Meyer, Richard Plehn and Seth Hecht.

Additional office space is available in large blocks starting at 13,500 s/f, which makes up an entire floor. More than 21,500 s/f of retail space is also being marketed. Spaces will be built out within 90 to 120 days for occupancy in mid-2008.

"This building is being redesigned into an innovative, unique destination for commercial office tenants," said Meyer. "Ascent Media's lease serves as proof that this is a world-class destination for major creative tenants. Others are certain to follow."

"The area is the hub of creativity for Manhattan, and 218 West 18th Street is one of the last remaining big blocks of unique space in Chelsea, or anywhere in Manhattan," said Eric Meyer.

As part of the re-branding efforts, the address was changed from 216 to 218 W. 18th St.

The new design will feature sustainable elements throughout, including the use of recycled materials.

The building's use of recycled weathered steel in the façade will allow it to blend in with the existing architecture of the area, and bamboo plantings along the interior windows will enhance the vertical lines of the windows.