Leasing Begins at 70 Pine, One Of Manhattan’s Most Iconic Skyscrapers
Posted On February 9, 2016
Rose Associates announced today that leasing is underway at 70 Pine, the landmarked, Art Deco skyscraper in Lower Manhattan. 70 Pine, a 66-story tower that was originally constructed in 1932, has been completely reimagined and fully renovated. This three-year effort has resulted in an exceptional rental opportunity in the heart of Lower Manhattan.
“70 Pine is one of the most spectacular properties I’ve ever had the opportunity to develop and I am excited to reintroduce the building to the city of New York,” said Adam R. Rose, co-president of Rose Associates. “We’ve spent three years transforming this landmark into residential use, and we’ve also assembled an extraordinary collection of dining, retail & other lifestyle services.”
Along with development partner DTH Capital, Rose has overseen a full renovation of the 66-story 70 Pine (www.70pine.com). The property is 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 floors having wraparound terraces, and more than 150 apartments at 70 Pine will feature private outdoor space.
“We have never before offered so many features and amenities in one location. A 70 Pine resident can access virtually every kind of service one can imagine without ever leaving the property,” said Rose.
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 (AIG) 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 stand out. Upon completion, the building’s Art Deco lobby, a New York City landmark, will be opened to the public for the first time in decades.
“One of the things that inspired us throughout this project is the fact that the first step residents and visitors will take into 70 Pine is a step into this one-of-a-kind lobby,” said Nathan Bruckner, a partner at DTH Capital. “The space is a true treasure, it embodies Art Deco in all its grandeur, and serves as an exceptional welcome.”
Along with private 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. La Palestra, an operator of upscale fitness and wellness centers, is creating its latest facility in 23,000 square feet of space, which will offer state-of-the-art aerobic and strength training equipment with additional amenities including dedicated Pilates and Yoga studio, private massage and treatment rooms, game and screening rooms, bowling alley and golf simulators.
La Palestra, which also has facilities at The Plaza and Hotel Des Artistes, plans to offer 70 Pine residents a full array of personal and sports-specific training along with nutrition sessions, sports psychology and behavioral counseling, lectures and seminars, massage therapy, and daily classes.
Among the most highly anticipated amenities at 70 Pine is April Bloomfield and Ken Friedman 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 and New Jersey.
Rose Associates is the exclusive leasing and managing agent for 70 Pine. The building’s initial offering includes a limited edition of 89 residential units in the City Collection. Rents begin in the $3,000’s for a studio to just over $9,000 for a three-bedroom. The leasing office is open from 10 AM to 6 PM Monday – Friday and 11 AM – 5 PM 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 asuccessful 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.