11 Times Square Preview Opening Draws Hundreds

Several hundred members of the New York metropolitan region’s real estate community gathered on Tuesday, May 18, for the preview opening of SJP Properties’ 11 Times Square, a 1.1-million-sf, high performance office and retail tower pursuing Leadership in Energy and Environmental Design (LEED) Gold certification.

The event, which marked the unveiling of the building’s magnificent 7,500 square-foot lobby, came on the heels of an announcement that global law firm Proskauer Rose LLP has signed an office lease for more than 400,000 square feet at the building.  The lease represents the largest office relocation in Midtown Manhattan in more than two years and has resulted in the building being more than 40 percent leased prior to completion.

Speakers at the preview opening event included Steven J. Pozycki, CEO of SJP Properties; Stephen B. Siegel, Chairman – Global Brokerage, CB Richard Ellis, Inc., who represented SJP Properties in the lease transaction with Proskauer Rose; Dan Kaplan, senior partner of architectural firm FXFOWLE, which designed 11 Times Square and its iconic glass curtain wall exterior; Richard Wood, president of Plaza Construction, which oversaw construction of 11 Times Square; and Kevin Smith, managing director of Prudential Financial Inc., SJP Properties’ long-time investment partner on this project and many others.

Eleven Times Square’s lobby, designed to ensure efficient flow of tenants and visitors, features a soaring three-story, 54-foot entrance at the corner of Eight Avenue and 41st Street that boasts unparalleled exterior “monument” signage on a 60-foot glass beacon.  The lobby includes three elevator banks, each with stainless steel clad security turnstiles that are seamlessly integrated with the most advanced destination dispatch elevators in use today.  Additionally, each elevator bank has its own concierge desk, allowing for dedicated tenant desk and prominent signage.

 

“We are extremely pleased to be approaching the opening of 11 Times Square, one of the most significant additions to New York City’s real estate landscape in many years,” stated Pozycki.  “The strong show of support we have and continue to receive from the real estate brokerage community is testament to the quality of this building and the importance of sustainable, new construction for today’s corporations.”

As one of the largest environmentally responsible commercial buildings in the Northeast, 11 Times Square is the only new office building of this size, quality and prominence pursing LEED Gold certification.  The building incorporates the latest green building features, including an advanced air filtration system and highly efficient glass curtain wall exterior that affords numerous benefits in reducing heat gain, minimizing thermal loss and decreasing heating, cooling and overall utility costs.  Other benefits of 11 Times Square include the presence of seven corner offices on every floor, six tenant-exclusive useable terraces throughout the building, and a state-of-the-art elevator system.  Floors will have up to 16-foot slab heights and floor-to-ceiling unobstructed glass that affords stunning panoramic views of the Hudson River and Midtown Manhattan.

“In Manhattan, where the average age of office buildings is 60 years old, the fact that 11 Times Square is 40 percent leased prior to completion is reflective of the demand that exists in the marketplace for new, technologically advanced, energy-efficient office space,” states Siegel.

The site of 11 Times Square was purchased by SJP in a joint venture with Prudential Real Estate Investors, and the building is likely to be the only new construction to be delivered to the Midtown market within the next several years.  The tower is scheduled for completion in summer 2010.

ARTICLE BY: Betsy Kraat PUBLISHED IN: New Jersey & Company, Green News