70 Pine’s La Palestra Fitness and Wellness Center, including Screening Room, Bowling Alley and Residents Lounge, Now Open
Posted On January 17, 2017
Rose Associates has announced the completion of the entirety of its 23,000-square-foot LA PALESTRA fitness and wellness facility, along with the opening of a number of 70 Pine’s most highly anticipated amenities. The features available to residents include a two-lane bowling alley, a screening room in 70 Pine’s historic bank vault, two golf simulators, a children’s playroom, and an expansive residents lounge equipped with private sitting areas, billiards and ping pong tables. The facility also features an indoor turf field and open workout area, massage and treatment rooms, and a dedicated Pilates studio.
“It is fantastic to share these special amenities with our residents, many of whom are already taking advantages of the classes and programming offered in the spaces,” said Andrea Mignone, director of property marketing for Rose, the exclusive leasing and managing agent of 70 Pine. “Each week we welcome new residents who seem pleased to learn that they can satisfy many of their lifestyle needs without ever leaving the building.”
Along with development partner DTH Capital, Rose oversaw an extensive, three-year renovation of the 66-story 70 Pine (www.70pine.com). The former office property is now comprised of more than 600 rental apartments in studio, one-, two- and three-bedroom configurations. 70 Pine tapers as it rises, which was a design requirement when the skyscraper was constructed. This results in numerous apartments having terraces, and it lends a dramatic architectural element that is especially notable at the top of 70 Pine.
70 Pine has long been one of the city’s most celebrated skyscrapers. It originally acted as the headquarters of Cities Services, which sold the building to American International Group in 1976. After AIG vacated the property, a new vision for the building began to take shape. Rose Associates joined forces with DTH Capital to lead a team of architects, designers and landmark specialists. The extensive and thoughtful renovation has transformed 70 Pine into a residential and retail standout. Since completion, the building’s Art Deco lobby, a New York landmark, has been opened to the public for the first time in decades.
Along with its rental residences, 70 Pine includes a 132-key residential hotel called Q&A. Operated by Furnished Quarters, the hotel offers fully furnished and service apartments available for bookings of 30 or fewer days. Black Fox Coffee operates in a retail space at 70 Pine’s lobby offering residents and the public an assortment of hand crafted coffee drinks, pastries, sandwiches and salads.
A gourmet grocer has also leased more than 8,000 square feet at 70 Pine. The market, which is expected to open this spring, will provide a full array of meats, produce and cheeses along with specially prepared foods.
Among the most anticipated amenities at 70 Pine is the restaurant and lounge that is planned for the building’s top floors. This feature will give residents and guests the ability to drink and dine while enjoying a 360-degree view that includes New York Harbor, Manhattan, Brooklyn, Westchester County and New Jersey.
Rose Associates is the exclusive leasing and managing agent for 70 Pine. The building is now leasing its City and Tower Collections. Rents range from the $3,000’s for a studio in the City Collection to more than $10,000 for a three-bedroom in the Tower Collection. The leasing office is open from 10 a.m. to 6 p.m. Monday – Friday, and 11 a.m. – 5 p.m. Saturday and Sunday. Leasing agents can be reached at (212) 785-7070 and information can be found at www.70Pine.com.
DTH Capital, Inc. (“DTH”) is a leading real estate development and investment management firm with a successful track record repositioning landmark office buildings into luxury multi-family properties. DTH currently manages a $1.5 billion portfolio of apartment properties concentrated in New York City. The firm’s growth strategy is focused on applying its valuable experience, gained from completing complicated change of use conversions, to other asset classes and expanding its geographic market area. DTH is owned by Ageas Insurance, a publically traded, Belgium based insurance company and the Eastbridge Group, a European private investment company.
About Rose Associates, Inc.
Based in New York, Rose Associates is a developer, owner and operator of premium residential properties. From planning a new development to managing day-to-day property operations, the Rose 360 Platform offers a full range of services designed to maximize the value of real estate. The firm oversees more than 26,000 units across New York, with approximately $2 billion in projects under development. Rose recently opened the historic skyscraper 70 Pine Street, which the firm is transforming into a luxury rental property with 644 residential units, 132 extend-stay apartments and a destination restaurant/lounge occupying the top four floors.