Foundations of America

QU201 Prof. Scott Leone

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Home Recent Discoveries Blog 1177 Avenue of the Americas

1177 Avenue of the Americas

Pinnacle Award--two time winner, Operating (500,000 to 1 million sf)

After an auspicious beginning by Far Eastern developers, this lavish Post Modern-Deco granite tower was launched with much fanfare in the late 80's, came to an empty halt 3/4 finished, and then went on to completion, successful leasing and operating excellence. Financial difficulties and the discord between ownership entities were left behind and the tower just shy of 1 million square feet, twice claimed BOMA/NY honors for best operating building in its class. Featuring a dramatic, Machine-era designed crown and spire, numerous setbacks and fine detailing throughout, the tower of unpolished pink granite was sold in 2002, after winning its second Pinnacle award, to a Paramount Group-led consortium for a healthy $500 million.

Source: http://www.allbusiness.com/operations/facilities-commercial-real-estate/1187433-1.html#ixzz1bofjeDl9

 

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