390 Madison Avenue - Manhattan, NYManhattan, NY L&L Holding Company, which was named Developer of the Year by a construction group in January, has now added the architectural community to its long list of admirers, winning a 2016 Design Award from the American Institute of Architects New York City Chapter (AIANYC) for its redevelopment of 390 Madison Ave.
With 390 Madison Ave., L&L Holding Co. and its project architect Kohn Pederson Fox Associates (KPF) have undertaken one of the most ambitious re-massings of an office building in New York City history. Millions of pounds of steel and concrete will be removed from the base of the building and eight new floors will be added to the top of the building. Upon completion in 2017, the original 291-ft. tall, 24-story structure will rise to 373 ft. and 32 stories, though the s/f will remain the same – 850,000 s/f total.
L&L and KPF, along with Tishman Construction, are accomplishing a total re-imagining of the 1950’s era office building, which is being transformed by massive new column-free spans, high ceilings, modern infrastructure and bright, sunlit spaces thanks to a brand new façade featuring transparent, floor-to-ceiling glass.
“We are honored to be recognized by such a prestigious group representing New York City’s greatest architects,” said L&L Holding chairman and CEO David Levinson. “Working in close collaboration with our many partners, we are dedicated to staying ahead of the curve in terms of understanding the evolving urban landscape and responding to the changing needs of top companies and the modern workforce.”
L&L Holding president and chief investment officer Robert Lapidus said, “We believe that the AIA’s 2016 Design Award serves to validate our commitment to reimagining the outdated office stock in NYC and we believe that this project will become a template for other developers.”
The AIA award comes just weeks after L&L Holding was honored as the “Developer of the Year” by the Greater New York Construction User Council for its role in reimagining and redeveloping commercial office buildings throughout Manhattan. In addition to 390 Madison, the Council expressed admiration for L&L’s ongoing work at the Norman Foster-designed 425 Park Ave., which will be the first full-block office development on this historic stretch in half a century. Located between East 55th and 56th Sts., the 897-ft.tower will incorporate best-in-class technology and amenities, feature a 45-ft. tall grand lobby, two 38-ft. tall setback floors, one of which will serve as a first-class amenity floor for the tower’s inhabitants, and a 38-ft. tall penthouse floor with unparalleled, 360 degree views of Manhattan and beyond. The firm recently announced an agreement with Citadel to lease 200,000 s/f in the tower, which will be completed in 2018.
In addition, L&L Holding was recently named a finalist for an excellence award by the N.Y. chapter of the Urban Land Institute for its work at 114 Fifth Ave. in the Flatiron District. L&L completed a $70 million building-wide redevelopment.
Highlighted by upgrades to the building’s lobby, elevators, windows, electrical infrastructure, access management system and main entrance, as well as the addition of a landscaped rooftop amenity space. The project was fully leased at record-setting rents in nine months, proving the success of the redevelopment; another example of outdated office space that was reimagined for the modern workforce.
A pioneer in transforming neighborhoods, L&L Holding also won widespread acclaim for its work at 200 Fifth Ave., the former International Toy Center, an 800,000 s/f office building that the company transformed into a trophy office property in 2009. 200 Fifth Ave. is now home to Eataly, which has revitalized the Madison Square neighborhood. L&L expects that the retail at 390 Madison will have the same effect on the Grand Central area.
In addition, L&L Holding is undertaking a multi-million dollar retail redevelopment at 195 Broadway. The project will add a stunning new glass retail corridor, while preserving the beauty of the landmarked lobby. Upon completion, it will be home to the new NYC flagship location of Nobu as well as Anthropologie.
For more information about the 2016 Design Awards and its exhibition featuring all of the winning projects, including 390 Madison, visithttp://aiany.aiany.org/index.php?section=2016-AIANY-Design-Awards-Winners