News: Spotlight Content

MKDA completes 10,000 s/f headquarters for CVC Capital Ptrs.

CVC Capital Partners (CVC), a leading global private equity and investment advisory firm headquartered in Luxembourg, has opened its first North American corporate office in a 10,000 s/f suite designed by space planning and interior design firm MKDA. The full 43rd floor office suite, located at 712 Fifth Ave. on the corner of East 56th St. in Midtown, was designed to be consistent with CVC's global brand, culture and values. "For its first U.S. office, CVC required a conservative corporate office suite fully representative of the firm's global brand and consistent with its 18 other offices spanning across Europe and Asia. By working closely with the firm's executive team and real estate representative, we were able to meet each of the firm's requirements, creating a classic design on time and on budget," said MKDA president Michael Kleinberg. The office suite consists of 13 private offices with glass and custom mahogany millwork office fronts as well as Sapele mahogany office furniture. In the elevator bank and reception area, MKDA used Sapele mahogany, limestone flooring and satin aluminum lighting fixtures by the American Glass Light Company. "We brought MKDA into the conversation early on in the leasing phase so that CVC could visualize how it would function within this particular space, previously occupied by another financial firm. After the space was leased by CVC, MKDA demolished the space and then crafted an elegant and traditional high-end office suite while respecting the company's conservative approach to their capital budget," said CVC's exclusive representative, Studley senior managing director David Dusek.
MORE FROM Spotlight Content

Over half of Long Island towns vote to exceed the tax cap - Here’s how owners can respond - by Brad and Sean Cronin

When New York permanently adopted the 2% property tax cap more than a decade ago, many owners hoped it would finally end the relentless climb in tax bills. But in the last couple of years, that “cap” has started to look more like a speed bump. Property owners are seeing taxes increase even when an
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
How much power does the NYC mayor really have over real estate policy? - by Ron Cohen

How much power does the NYC mayor really have over real estate policy? - by Ron Cohen

The mayor of New York City holds significant influence over real estate policy — but not absolute legislative power. Here’s how it breaks down:

Formal Legislative Role

Limited direct lawmaking power: The NYC Council is the primary
Oldies but goodies:  The value of long-term ownership in rent-stabilized assets - by Shallini Mehra

Oldies but goodies: The value of long-term ownership in rent-stabilized assets - by Shallini Mehra

Active investors seeking rent-stabilized properties often gravitate toward buildings that have been held under long-term ownership — and for good reasons. These properties tend to be well-maintained, both physically and operationally, offering a level of stability
The strategy of co-op busting in commercial real estate - by Robert Khodadadian

The strategy of co-op busting in commercial real estate - by Robert Khodadadian

In New York City’s competitive real estate market, particularly in prime neighborhoods like Midtown Manhattan, investors are constantly seeking new ways to unlock property value. One such strategy — often overlooked but
Properly serving a lien law Section 59 Demand - by Bret McCabe

Properly serving a lien law Section 59 Demand - by Bret McCabe

Many attorneys operating within the construction space are familiar with the provisions of New York Lien Law, which allow for the discharge of a Mechanic’s Lien in the event the lienor does not commence an action to enforce following the service of a “Section 59 Demand”.