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Midtown East Loves To Renovate

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Midtown East Loves To Renovate

Renovations are en vogue in the Grand Central and Plaza District office submarkets. (Soon we expect a LivingSocial deal for a new lobby.) While 237 Park is just getting started, down the block Monday Properties and Invesco are enjoying the fruits of the redo of the Helmsley Building at 230 Park. After leasing 315k SF since March, the 1.4M SF Landmark is an off-the-charts 95% leased. Monday's head of operations and property management, Hani Salama (also secretary elect for BOMA/NY and a speaker at Bisnow's New York Property Management Summit on Dec. 17) tells us assistant property managers train for five to seven months, and all are LEED-AP and RPA certified.

Midtown East Loves To Renovate

Hani says tenants are super involved, too. ING built out the 144k SF it renewed this year to LEED Gold (above, the LEED Gold-EB 230 Park's festive LED lights). He reports that tenant-approval rates range from 85% to 100%, thanks in part to a comprehensive maintenance program, including software that alerts managers to begin seasonal maintenance prep and lets engineers know when maintenance is called for. Service requests also go to engineers' iPhones (so they'll see them even if they're playing Candy Crush on their lunch breaks). Check out our full story with Hani in Bisnow's national Property Management issue here.