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A New Appeal

New York
A New Appeal
Colliers International's Sean Kearns, Transwestern Investment Co.'s Joseph Concepcion, and Colliers International's Harry Blair
When Transwestern Investment Co. purchased Tower 56 at 126 W. 56th St. in '08, the building had lost its appeal to financial services tenants. But for the past year and a half, the firm has worked to bring the building back to its former glory through renovations, a pre-built program, and aggressive marketing. And now the owner is seeing the fruits of its labor—it signed 46k SF worth of leases in the first two quarters, says Transwestern's Joseph Concepcion (center) and leasing agents Sean Kearns and Harry Blair of Colliers International. The 11 leases include EnTrust Capital, Serendiv Capital Management, Goffe Advisors, and Circle Wealth Management. Tenancy is now 50% financial services firms, a number expected to grow, they say.
Tower 56 lobby modernization
Next on the to-do list: a multi-million dollar lobby modernization(pictured), façade and entrance accentuation (sounds positive), and upgrades to its elevator systems, which have been designed by Moed de Armas & Shannon. The building has two 5.8k SF full-floor spaces available on the 17th floor and 20th floor, a rarity for a boutique firm that wants a private floor in the Plaza District. And due to the success of its Ted Moudis & Associates-designed 19th floor build-out, Transwestern plans to build 10k SF more.