X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK CITY-Newmark Knight Frank has been named the exclusive leasing team for 148 Lafayette St. The building, which was purchased by Louis Dreyfus Properties at the end of February for $59 million, is in the midst of an extensive renovation project.

“Newmark Knight Frank’s leadership in the business community and experience in this neighborhood made it the clear choice for this project,” says Jeffrey Sussman, president of Louis Dreyfus Properties. Newmark’s Robert Silver, executive managing director, Scott Brown, associate, and Neil Rubin, associate, will handle the leasing of the nearly vacant building.

Sussman tells GlobeSt.com that the building has only one tenant and is by most respects completely vacant. The 152,000-sf building is being converted into a “very modern office space,” according to Sussman. The lobby will be fully renovated and the building will receive new elevators, air conditioning, washrooms, windows and new wood floors. Offices will have the loft-space feel complete with exposed ceilings when complete. He declined to tell GlobeSt.com the total construction costs saying only that they are “spending a lot of money.”

Once the renovations are complete this fall Sussman says the building will qualify for LEED certification for its energy efficiency. Green renovations, he says, is the wave of the future. “It is a very smart thing to do it is good for the space; it is good for people to be in a building with better air. It is going to become the norm.”

A little more than 8,000 sf of the space in the buildings base will be retail, although Sussman says the space hasn’t been leased by any retailer yet.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.