It’s a new day for 511 Fifth Ave., the handsome, Beaux Arts-style, 1915 office tower at the corner of East 43rd Street.
Owners Aurora Capital, Jeff Sutton’s Wharton Properties and Alex Adjmi’s ACHS Management have restored, upgraded and repositioned the now-vacant, 18-story building that was until two years ago home to a single tenant, Israel Discount Bank, for more than 50 years.
Brett Harvey, leader of a JLL leasing team with Howard Hersch and Ellen Spivey, said the re-born property boasts two entrances including a new, glass-box lobby on East 43rd Street; a 9,000 square-foot amenities center on the 15th floor; new elevators and all-new infrastructure.
“It’s basically a brand-new building” inside its distinctive, century-old limestone shell, Harvey said.
BKSK Architects oversaw the interior brightening and facade preservation.
Office asking rents will run between $70 and $85 per square foot depending on floor, he said. Retail wizard Sutton’s company will see to finding tenants for about 10,000 square feet of retail space behind dramatic arched windows.
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