CBRE to Manage New York Public Library Renovations

The Project Management Group of the real estate advisory firm is overseeing the $317 million upgrade of the historic building at 476 Fifth Ave.

New York Public Library at Fifth Ave. and 42nd St./ Photo credit: Betsy Kim

NEW YORK CITY—The New York Public Library has selected CBRE to serve as project manager and cost consultant for the renovations of the iconic Beaux Arts building that stands on 42nd Street and Fifth Ave. The $317 million project will upgrade the Stephen A. Schwarzman Building, what’s often referred to as the Main Branch.

The structural improvements will add more public space for research, exhibitions and programs, while improving flow and infrastructure. The library has hired a design team led by the Dutch architecture firm Mecanoo and Beyer Blinder Belle as the architect of record. AECOM Tishman is the construction manager. The project began in January 2019. But the library will continue to remain open throughout the renovations.

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Betsy Kim

Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.

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