The Georgetown Co has announced plans for a $100M redesign of its property at 787 11th Ave.
The transformation will include the addition of 86k SF, which will bring the building’s total size to 500k SF, spread over 10 floors. Plans call for the upper levels to be converted into modern offices with oversized floor plans, while the lower levels will be renovated into flagship auto dealerships.
787 11th Ave is on the Far West side of Manhattan in the Clinton area, which has seen an uptick in demand for upscale space. Certain parts of the building will feature 24-foot-high ceilings, while oversized windows will fill it with natural light. The building will have a 12k SF rooftop deck, executive parking in the basement and shuttle service to transit hubs.
Nissan North America and BNF Automotive Group are on board as the flagship dealerships, and will occupy 265k SF on the lower levels in long-term leases. Georgetown partnered up with a fund controlled by Pershing Capital Management head Bill Ackman to purchase the property last year from Ford Motor Co for a little over $250M.
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