Newmark Knight Frank (NKF) announced its appointment by Gorjian Real Estate Group to market its newly-acquired asset, 192 Lexington Avenue.
The NKF leasing and marketing team comprises president David Falk, executive managing director Eric Cagner, senior managing director Bernard Weitzman and associate director Alex Leopold.
192 Lexington Avenue is a 17-story, 140,000 s/f asset located on the border of Midtown and Midtown South on the northwest corner of 32nd Street. The building is one block from the 6-subway line and equidistant between Grand Central and Penn Station. The Gorjian family is kicking off a multi-million dollar campaign that will focus on re-positioning the boutique asset to meet the aspirations of today’s modern tenant.
The initial renovation will focus on creating a dramatic contemporary lobby with a double-wide glass entrance and 25-foot-high ceilings. The lobby will be outfitted with contemporary art, highlighted by a large custom mosaic designed in Italy.
“We are very excited about the opportunity to transform 192 Lexington Avenue into a building that will be extremely competitive with the rest of the of the Midtown South market,” said Myron Gorjian of Gorjian Real Estate.
The initial availabilities will consist of full floor pre-builds ranging in size from 7,000 to 8,600 s/f.
Ownership will construct modern glass fronted offices, new pantries and new bathrooms in all availabilities. Existing concrete floors will be refurbished, and all columns will be exposed.
Juliet terraces will be introduced on certain floors bordered by new glass exterior walls that will replace the old-world parapet walls, allowing an abundance of natural light to flow in.
“We are thrilled to be a part of what will be a transformative process at 192 Lexington,” said Cagner of NKF. “The bones of this asset are fantastic, with ample ceiling height, great natural light and an accessible location that is equidistant to Penn Station and Grand Central.”