In a rare opportunity for a creative company to fully occupy, program and brand its own office building in one of Manhattan’s hottest neighborhoods, L&L Holding Company announced today that it is launching a marketing and leasing campaign for Ironworks at 511 West 25th Street, its fully renovated office property located in the heart of Chelsea’s High Line and Gallery districts.
With 511 West 25th Street, L&L is offering prospective tenants the rare opportunity to totally re-define their corporate culture and brand identity. In addition to fully occupying all 84,554 square-feet of office space, a single user will also be afforded the opportunity to program the building’s indoor and rooftop amenity spaces, and heighten brand awareness via signage that will be highly visible to the thousands of people who visit the High Line on a daily basis.
“We view the Ironworks as a golden opportunity for an enlightened firm to identify itself with one of the world’s coolest and most eclectic neighborhoods,” said David W. Levinson, Chairman and CEO at L&L Holding Company. “The firm that chooses511 West 25th Street will join the elite ranks of only 16 other firms who currently occupy full Manhattan office buildings, which will give them a leg up on their rivals and in recruiting and retaining employees.”
To assist in its effort to identify, market and lease the building to prospective tenants, L&L has retained a team from Newmark Knight Frank (NKF), led by Tri-State President David Falk, Jason Greenstein, Matthew Siegel and Alex Leopold.
“We are thrilled to partner with L&L in the transformative repositioning of a single tenancy opportunity at 511 West 25th Street,” Falk said. “The entire building opportunity along the High Line will attract a progressive single user seeking to amplify their workplace culture, brand and identity. The creative asset offers a prospective tenant two large outdoor spaces, oversized windows, high ceilings, excellent natural light and branding on the High Line in one of Manhattan’s most dynamic neighborhoods.”
Built in 1917 and typifying the contemporary, post-industrial style of the surrounding art community, L&L commissioned architectural firm STUDIOS Architecture in late 2015 to transform the building’s lobby into a gallery-like space, featuring upgraded finishes and lit art walls. As an added amenity, L&L is currently constructing a brand-new, 3,000 square-foot roof deck at the top of the building, including terraced landscaped areas, partial Hudson River views and an event space.
In all, the Ironworks is a three-building complex that covers 194,000 square feet and is ideally situated near all shopping, cultural institutions and restaurants—and in close proximity to the C and E subway lines, as well as the West Side Highway and surface transit. Current tenants at the adjacent 521-531 tower includes corporate offices for Minneapolis-based Target Corporation.
A longtime pioneer in Midtown South, L&L is widely known for the redevelopment 200 Fifth Avenue, the former International Toy Building that was repositioned as a modern class A tower. After a spectacular, multi-million redevelopment project in 2008, ownership attracted a wide variety of corporate tenants to the building, such as Grey Advertising and Tiffany & Co., as well as prominent Italian food retailer Eataly. Following that, L&L modernized and upgraded 114 Fifth Avenue, a 350,000 square-foot property near Union Square Park, to meet the needs of today’s fashion, media and publishing companies who populate the area.
In addition to the Ironworks, L&L is currently developing the Norman Foster-designed 425 Park Avenue, which will be the first full-block office tower to rise on the famed boulevard in half a century. The company is also conducting a building-wide renovation of 150 Fifth Avenue, an 1880s-era boutique office building that is located in the Ladies’ Mile Historic District between 19th and 20th Streets; and serving as an equity partner and developer in the redevelopment of 1568 Broadway in Times Square, which will transform the existing site into premier cultural, entertainment, retail and hospitality experience.
About L&L Holding Company, LLC
Manhattan-based L&L Holding Company, LLC is a privately-owned real estate investment company with a current portfolio exceeding 6 million square feet of office space primarily in Manhattan. Through joint ventures with select institutional partners, our strategy is to identify, acquire, and develop prime but underperforming real estate for the purpose of maximizing its value. L&L provides a broad spectrum of services to its partners including acquisition, disposition, asset management, leasing, accounting, design, construction, and financing. The company’s current portfolio includes many notable properties including 425 Park Ave., 195 Broadway, 200 Fifth Ave., 150 Fifth Ave., 114 Fifth Avenue, Metropolitan Tower and 600 Third Avenue. For more information on L&L, visit their website www.ll-holding.com.
