As GlobeSt.com previously reported, Skyline Developers purchasedthe building in a package with 1050 and 1052 Avenue of the Americasfor $170million last July. At the time, Orin Wilf, Skyline'spresident, told GlobeSt.com that the plans were not yet set "forthe future of these buildings."

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Wilf says in a prepared statement that major improvements inthis office tower "will result in full and half floors of desirablehigh-end prebuilt suites that will appeal to potential tenantsincluding those in the financial and legal sectors." The 24-hourattended lobby has been enhanced with new decorative fabric panelsand a Wall Street Journal video wall. Improvements will alsoinclude new elevator cabs and upgraded building systemsthroughout.

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In addition, a complete gut renovation of the 9th, 10th and 11thfloors is underway. The floors will be offered as pre-built officesuites ranging from 3,500 sf to 12,000 sf and will feature glasswalled conference rooms, tenant-controlled HVAC, full-heightpaneled wood doors, quality hardware, high-end lighting, fullyoperable windows and pantries with stainless appliances. Space canbe leased individually or combined. The Skyline source tellsGlobeSt.com that current tenants should not incur any interruptionsduring the renovation process.

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Situated on the Northeast corner of 39th Street and Avenue ofthe Americas, 1040 boasts convenient access to Grand Central,Pennsylvania Station, Port Authority, and 15 subway lines. NewmarkKnight Frank is the leasing agent for the building. According toMrOfficeSpace.com, asking rent—according to March numbers—rangesfrom $55 to $58 per sf, however Skyline sources tell GlobeSt.comthat currently, asking rents are in the low $60s per sf, but afterthe renovations, they will be in the mid- to upper-$70s per sf. Thesource also notes that the building is currently 90% occupied,however "some leases will be rolling over soon."

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Skyline Developers also recently completed development of thePeter Marino designed residential condominium at 170 E. End Ave. andthe conversion of 37 Wall St. into a luxury rental that housesTiffany & Co. at its base.

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Natalie Dolce

Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.