In 2014, a $38M capital improvement campaign was initiated for Madison Square Portfolio to include: interior and exterior building renovations, converted heating systems, as well as modernized elevators and retail storefronts. The previously deteriorating buildings in Midtown South were transformed into high-end commercial real estate buildings that tailors to the TAMI sector (technology, advertising, media, and information).
Upon a complete renovation, the lobbies will feature innovative architectural concepts designed to inspire creative work environments. Using eco-friendly materials to reconstruct the space, the refined aesthetic will capture the antiquity of the neighborhood while integrating modern features. The signature look will appeal to creative office and retail tenants who gravitate towards the energetic ambiance of Midtown South. For security and convenience, all lobbies will be attended and have a tenant directory on display.
The streetscape and appearance of Midtown South has changed dramatically over the years, as evidenced by the emergence of luxury residential buildings, hotels, and trendy eateries. This portfolio will continue the redevelopment while honoring the historical preservation of the neighborhood, with the storefronts and facades being restored to their original architecture. New thermal pane glass fronts and distinctive signage will echo the vibrant synergy between NoMad and Flatiron.
Elevators were modernized with state-of-the-art mechanical equipment including GAL Galaxy controls and Hollister Whitney traction machines. Upgraded cabs now feature LED lighting, computerized dispatch controls, and IP cameras. Security access controls tie into individual Tenant systems to further ensure security and privacy.
Tech amenities such as a smart meter for electrical use will allow tenants to independently look up their usage and get alert notifications in order to manage spending. For privacy and security, state-of-the-art security surveillance systems will be installed as well as security access control systems with proximity card readers. To ensure productivity with uninterrupted internet access, telecommunication risers will be installed with dedicated project management services through a leading telecommunication company. Tenants will be provided with dual telecom riser areas per floor, voice and high-speed data, multiple fiber providers, redundant high speed internet connectivity, multiple points of entry, and turnkey cloud implementation.