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NEW YORK CITY - Pre-built office units are now increasingly popular with small to midsize firms and satellite or sales offices of major companies, notes Fred C. Posniak of W&H Properties, the portfolio of nine Manhattan Pre-War Trophy towers.
This trend is reflected in recent leases of pre-builts by MetLife (The Lincoln Building at 60 East 42nd Street), Lufthansa (The Empire State Building), Northwest Airlines and Aeromexico (both at 112 West 34th Street).
"Our quality pre-builts satisfy the requirements of larger firms that realize certain needs can be easily and effectively satisfied with no great effort on their parts," says Mr. Posniak. "By leasing these units, which are in move-in condition, and which typically lease for a premium, the firms avoid the time-consuming efforts of construction.
"Clearly, word is getting out to brokers and their clients that convenience and quality need not be mutually exclusive," Mr. Posniak continues. "That is certainly the case with W&H pre-builts, which are built according to the most stringent standards."
These standards, he points out, are considered to be top tier for the industry, and feature the high-end finishes normally found in more expensive locations such as the Plaza District.
In response to the rising demand for the units, W&H is expanding its pre-built program at all of its properties - those listed above as well as 501 Seventh Avenue, 1333 Broadway, 1350 Broadway, 1359 Broadway, 1400 Broadway, and 250 West 57th Street. All of the pre-builts are contain new ceilings, lighting, flooring and highly efficient layouts with a great deal of glass, wood and sidelights.
"Another noteworthy development is that that many of the units are leasing pre-construction," he continues. "Tenants see our other pre-builts and immediately decide that they want the same product. Fortunately, we have an ambitious program in place that can accommodate the demand."
Highlights of the W&H program's next phase include the following rollouts, most of which will be available this summer or sooner:
- 14 pre-builts at 1359 Broadway, ranging from 2,500 to 5,500 square feet.
- Eight showroom pre-builts at 1400 Broadway, ranging from 2,500 to 4,500 square feet.
- 15 pre-builts at The Empire State Building, ranging from 2,911 to 5,787 square feet.
- Four pre-builts at The Herald Square Building (1350 Broadway), ranging from 3,000 to 4,000 square feet.
- Four pre-builts at 3 Herald Square (1333 Broadway), ranging from 3,000 to 8,000 square feet.
- Four pre-builts at The Lincoln Building, ranging from 2,152 to 2,999 square feet.
- Five pre-builts at 250 West 57th Street, ranging from 2,508 to 5,421 square feet.
- Four pre-builts at 501 Seventh Avenue, ranging from 1,500 to 3,000 square feet.
For more information about W&H Properties and its pre-built offerings, please visit www.whpropertiesny.com.
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