Paul Bubnyis editor of RealEstate New York.
NEW YORK CITY-A multimillion-dollar capital improvement programis under way for 64 W. 48th St., a 17-story, 130,000-sf officebuilding Muss Development LLC has acquired. The developer boughtthe Rockefeller Center-area property for $54.5 million from WesternManagement, which paid $34 million for it two years ago.
Muss plans to reposition 64 W. 48th, currently used primarily asa jewelry showroom, into a boutique office building. Along withrestoring the lobby, the capital program will provide new elevatorcabs and common areas, new windows, upgraded facade and roof, newHVAC systems, electrical system upgrades, new bathrooms, upgradedsecurity systems and keycard access.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
