Muss Spends $54M for Midtown Manhattan Office
- Mar 12, 2008
Muss Development L.L.C. has purchased the 17-story, 130,000-square-foot office building at 64 West 48th Street in Manhattan’s Rockefeller Center area for $54.5 million. The seller, according to a Muss spokesperson, was Western Management. Following a $12 million dollar renovation that’s already under way, the building will be repositioned as a boutique Class A office building, according to a prepared statement. The renovation will include lobby restoration, new elevator cabs, upgraded façade and roof, new HVAC, electrical system upgrades, new bathrooms, and upgraded security systems with keycard access. A total of 25,000 square feet of space, including full floors, will become available in the next several months; floor plates in the building range from 6,000 to 9,000 square feet. Mark Lauzon of Cushman & Wakefield Inc. is the exclusive leasing agent for the office space, and Jedd Nero of CB Richard Ellis Inc. is handling the 17,000 square feet of retail space that’s currently on the first floor and lower level, all of which is currently vacant. In business in New York City since 1906, Muss Development has been involved in numerous recent projects in the metro area, including the New York Marriott at the Brooklyn Bridge, Brooklyn’s first major luxury hotel and part of the Brooklyn Renaissance Plaza mixed-use development. The company’s portfolio includes more than 4 million square feet throughout New York City.