Gotham Organization renovates 375-unit New Gotham building

New Gotham, the 34-story rental tower located at 520 West 43rd Street and developed by the Gotham Organization, Inc., is undergoing a major renovation, geared to bring the 10-year old building up to the forefront of design. To compete with the best and most modern rental products in the city, the apartments have been completely redesigned. New kitchens and bathrooms and flat ceilings are replacing the old popcorn ceilings. The building's corridors are likewise being updated, and the award-winning, geometrically designed lobby will receive a facelift in 2009. "When New Gotham entered the market in 1998, it was with a purpose to create a new kind of rental product—a spirited and hip residence aimed to appeal to the dot-com generation," says David Picket, president of Gotham Organization. "We do not approach our developments as static entities, and the property continues to be forward-thinking - as forward-thinking as it was when we first embarked on the project." While the apartments are being updated, the old school-style gymnasium will remain intact. "When we first opened the building, we weren't quite sure what to expect," said Katherine Sabroff, vice president of marketing and operations for Gotham. Within five months, all 375 units at New Gotham were leased. "At the time, no one could have predicted that there would be such a great demand for the area."