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Deals & Dealmakers

Avison Young awarded leasing agency for 500 West 181st Street in Washington Heights

Avison Young announces today that it has been awarded the leasing agency for 167,000-square-feet (sf) of office space in a newly developed, mixed-use tower on behalf of YOUNGWOO & ASSOCIATES (YWA). The 305,000-sf commercial building in Washington Heights, branded Radio Tower, features office space with floor plates ranging from 7,000-12,000 sf, a new hotel, retail podium, and event space, as well as access to outdoor courtyards and terraces.

The Avison Young team will be spearheaded by Martin Cottingham, Principal, and will include Arthur Mirante, formerly of Avison Young, in an advisory capacity. Founded in 1979, Manhattan-based YWA has proven success in pioneering emerging markets, implementing bold initiatives with new technology and developmental strategies, and recognizing shifting real estate trends.

“Properties like Radio Tower don’t come along every day, and to see how the community has already embraced the development has shown us that YWA has once again delivered on their vision for the community,” said Cottingham. “This is a great opportunity for tenants to have immediate access to talent in Manhattan, Bronx, and New Jersey and by embracing the heritage of Washington Heights, will establish a new destination not only for the neighborhood, but for the surrounding metro area.”

The stacked, multi-colored building replaced a gas station at the corner of bustling 181st Street and Amsterdam Avenue and brings many new firsts for the neighborhood. It will be the first, class A office/mixed-use building constructed in the neighborhood, will bring 5G connectivity to the area, and has brought over 200 new luxury hotel rooms to the area. Neighborhood assets like Highbridge Park, Fort Tryon Park, George Washington Bridge, Port Authority of New York and New Jersey Bus Terminal, and Interstate 95 are all within walking distance.

Additionally, the new destination restaurant, Jalao NYC, in the building’s ground floor and private courtyard offers Dominican Republic-based fare in a vibrant, fine-dining setting. The building also offers exclusive views of Manhattan, Queens, Bronx, and New Jersey from its multiple event spaces and rooftop terraces for both office and hotel users.

“We’re beyond excited at how Washington Heights is positioned to grow into the future, and we hope that Radio Tower is only the beginning,” said Bryan Woo, Executive Vice President. “Partnering with Avison Young will give us the reach and accessibility to a diverse range of tenant prospects that will help usher in this transformation and establish a new center of commerce for the neighborhood of Washington Heights.”

The building will officially open on September 21st and will be celebrated by a gala event with Dominican, Puerto Rican, and LatinX artists amongst others, providing entertainment.

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