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Midtown South’s Textile Building Set for $350M Redevelopment
Tribeca Investment Group (TIG), PGIM Real Estate and Meadow Partners jointly announced plans for the $350-million redevelopment of the 700,000-square-foot Textile Building, 295 Fifth Ave. The full block Midtown South office building sits at the epicenter between Madison Square Park, Penn Station and Grand Central Terminal.
Originally built in 1920 by notable builder George Backer, 295 Fifth was previously home to New York City textile tenants and at that time was considered the finest structure on Fifth Avenue.
“From day one we were inspired by the history and uniqueness of this building,” said Elliott Ingerman, TIG founding principal. “It’s rare that a full block building with such a storied past also offers a strong foundation to be redesigned for the modern workforce,”
The CBRE team of Peter Turchin, David Hollander, Brett Shannon and Liz Lash are marketing the 700,000 square feet of available space.
- ◦Development
