Oxford Properties Group has reopened the interior public plaza at Olympic Tower following a $30 million redesign.
The new design by MdeAS Architects creates an open environment by bringing to life previously underutilized areas.
“The newly redesigned public space creates a much-needed respite for the East Midtown community. Oxford Properties expressed the vision necessary to create a meaningful public space that complements St. Patrick’s Cathedral and Rockefeller Center — two of New York City’s most recognizable landmarks,” said Dan Shannon, principal, MdeAS Architects.
Located at 645 Fifth Avenue, Olympic Tower is an office and retail destination. In addition to the renovated public space, the redevelopment brings a modern private lobby and new amenities for the building’s customers.
The fully-occupied tower is home to the headquarters offices of the National Basketball Association as well as MSD Capital and Richemont North America.
Originally constructed in 1974 by Skidmore, Owings and Merrill (SOM), Olympic Tower was the first mixed-use building to open on Fifth Avenue.
The new interior public plaza provides tenants and visitors enhanced private gathering space, anchored by Grano New York – a new café concept by Iganazio Cipriani – and new site-specific artwork by international artist Liam Gillick.
“Olympic Tower is one of Fifth Avenue’s most iconic buildings. Oxford immediately recognized its hidden potential, and has been dedicated to improving the customer experience, culture, and community since acquiring the building in 2015,” said Kevin Egan, Head of New York at Oxford Properties.
“This latest investment enabled us to fulfill our vision of Olympic Tower as a premier Midtown office destination. Moreover, it helps us deliver on our company’s overall goal to create exceptional experiences for each of the 2 million people that work, live or shop in one of our buildings each and every day.”
Earlier this year, Oxford announced its redevelopment of St. John’s Terminal in Hudson Square, a transformative 1.3 million-square-foot commercial building.
Oxford has nearly nine million square feet in development at Hudson Yards in partnership with Related Companies and operates a global portfolio spanning across more than 100 million square feet.