22C — November 23 - December 13, 2018 — Owners, Developers & Managers — M id A tlantic
Real Estate Journal
O wners , D evelopers & M anagers
EW YORK, NY — Owner and opera- tor Cove Property Class A office space with support from Montroy DeMarco Architecture LLP Cove Property Group & Bentall Kennedy complete $75Mrepositioning of 101 Greenwich St. N
Information industries) ten- ants, as well as those from the financial and hospitality industries. “TAMI tenants – and, increasingly, more progressive tenants in other market segments – are de- manding a different kind of office space. They want well-lit spaces with expansive open- plan areas and fewer private offices. The floor’s best views, for example, are now used for communal areas rather than executive offices,” DeMarco explained. In addition to MDALLP, the project team included The Sweet Construction
Of the $75 million construc- tion budget for the redevel- opment of the 111-year-old building, 75% of it went to- ward technology andmechani- cal, electrical, and plumbing (MEP) upgrades, while the rest went toward the lobby upgrades, refreshed common areas, and new elevators. The property was redesigned to achieve a LEED Silver rating. Richard DeMarco, AIA , MDALLP’s principal in charge of the design for the reposi- tioning, noted that Cove and its partners were interested in attracting TAMI (Technol- ogy, Advertising, Media, and
Group , which served as the construction manager during the upgrades. Sweet also pro- vided preconstruction services prior to the start of construc- tion, creating budgets for various options while negotia- tions were taking place. Other project team members were mechanical, plumbing, and electrical (MEP) engineer MG Engineering and lighting consultant zeroLUX . Typically, cyber-fraud head- lines focus on financial services, healthcare and retail industry victims. “No industry is im- mune,” said Tony Sardis, part- ner and president of Withum Insurance Advisors. “Cyber- crime takes on many different forms, fromphishing scams and mobile device/computer hack- ing to inside threats posed by employees.” To protect one’s company, employees, clients and third- party service providers, Sardis urges all real estate entities to implement certain strategies and tools to combat cyber fraud and promote cyber resiliency. He also has the following sug- gestions: • Acquire cyber insurance from a reputable company for all business activities • Require cyber insurance from your subcontractors and vendors • Report any breaches to the insurance company immedi- ately upon discovery Rob Kleeger, founder and managing director of Digi- tal4nx Group, Ltd., also ad- vocates employing certain password and authentication practices. “From encouraging longer pass phrases of at least 12 characters to utilizing pass- wordmanagement tools such as LastPass, KeePass and Dash- lane and enabling two-factor authentication whenever avail- able, it is advisable to never use the same password on more than one site,” he said. “It also is advisable to encrypt devices that store PII or confidential data.” Established in 1974, With- um is a national top-ranking public accounting firm pro- viding advisory, tax and audit services to businesses and individuals on a local- to-global scale. continued from page 2C CRE among most vulnerable . . .
Group and owner Bentall Kennedy , working with Montroy DeMarco Archi- tecture LLP (MDALLP) , have completed the extensive redevelopment of 101 Green- wich St. (formerly Two Rector St.), a 26-story, 481,000 s/f office building in Lower Man- hattan’s Financial District. MDALLP worked with the Beaux Arts building’s owners to reposition the property from a class B to a class A office tower through architectural and infrastructure upgrades.
The renovation opened up the arcade through the use of a floor- to-ceiling glass wall. Photo by Peter Dressel/Wilk Marketing Commu- nications.
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