Having arranged the May 2020 purchase of 150 East 45th by HAB Bank, full-service commercial real estate company Resolution Real Estate Partners LLC, a member of NAI Global, is now responsible for the gut renovation of the seven-story, 42,000-square-foot Grand Central District area property.The acquisition, which was one of the most prominent transactions during the early days of the pandemic, was brokered by Resolution Real Estate’s Jonata Dayan and Brett Weiss on behalf of HAB Bank; and JLL representing the seller, Children’s Aid.
Resolution Real Estate’s Gerard Nocera, Managing Partner, and Erik Caiola, Director of Construction are now overseeing the sweeping restoration which, when completed in early 2023, will be the New York headquarters of the prominent, multinational banking institution. In addition to offices, conference areas, common space, and a host of amenities, approximately 6,800 square feet of ground level space has been allocated for HAB’s client banking services, including an adjacent landscaped inner courtyard off the lobby.
“Resolution is one of the few boutique, commercial real estate firms in New York City capable of providing a truly full-service platform,” points out Mr. Nocera. “Not only did we represent HAB’s interest during the purchase, we were also afforded the opportunity to further represent their interests in the total redevelopment of their new corporate home here. We are providing the full scope of Owner Representation, from assembling a first-class team that includes the architect, engineers, expeditor, and contractor, to delivering comprehensive construction management and asset management services to complete this marvelous project.”
Designed by award-winning architecture firm Gertler & Wente Architects, LLP, the most significant feature of the transformational development project entails the removal and replacement of a 1950s brick-and-glass front façade with a stunning, all-glass frontage, highlighted by a double-height, low-iron glass lobby featuring a dramatic, open connecting stair that leads to work offices overlooking the banking hall. From the third to seventh floors, a blue-tinted glass curtain wall ascends skyward. Blue metal panels that echo the tinted glass and reference the bank’s brand colors, cover the existing brick on all the remaining walls, creating a highly visible and contemporary statement along the side street.
To further expand the useable space and reinforce the open workspace, the two poorly located, grade-level stairways are being replaced by a striking scissor stair that will continue up to the top floor. Moreover, even the bathrooms on each floor have been relocated to add to the expansive space.
Adds Jeffrey A. Gertler, Partner, Gertler & Wente, LLP, “No longer will this building be an unnoticed, tired mid-block structure. Rather, it will become a vibrant, shining beacon that elevates the streetscape and brings great value to both our clients and the surrounding businesses.”
The entire building is designed exclusively for HAB Bank’s use. In addition to offices, common areas, and conference rooms, it will feature three separate areas with outdoor space. The first-floor courtyard will be used as an amenity for the bank’s clients. A second-floor furnished terrace is situated adjacent to the staff cafeteria. At the top of the building will be a roof deck adjacent to the executive offices.
“When completed in early 2023, this building will meet the 2030 criteria mandated by Local Law 97 and the 2019 Climate Mobilization Act, even surpassing many newer commercial developments in the city,” says Mr. Caiola. “Between the relocation of the mechanicals, removal of all asbestos, and use of such materials as Low-E glass and state-of-the-art air-filtration systems, a 70-year-old building is being transformed into a model for the future!”
