SJP Properties and PGIM Real Estate unveiled a suite of purpose-built indoor and outdoor lifestyle amenities at 470 Park Ave. South, a boutique office and retail building the partnership acquired in 2018.
As part of the building’s repositioning, ownership created a contemporary tenant lounge space branching off the building’s main lobby. This lounge area also provides a transition into the building’s newly completed landscaped outdoor courtyard.
“The shift in priorities of office tenants has only further strengthened the importance of not just common areas that can facilitate safe, team-based work, but also outdoor amenities, which were previously unheard of in this submarket,” said Alexander Erdos, SVP – leasing & marketing at SJP Properties.
SJP and PGIM will undertake a full modernization of the building’s elevator cabs and construct a new 14th-floor rooftop terrace, exclusively available to that floor’s tenant, with completion slated for early 2022.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).