Mermel & McLain Management and ASB Capital have acquired the handsome, 173,108-square-foot, 20-story, office tower at 104 West 40th Street from RFR Realty and are reported to be planning a residential expansion.
Sources told CityRealty.com today that the sale was concluded last week.
According to an article in today's New York Post by Lois Weiss, the new owners have hired Skidmore, Owings & Merrill to renovate the elevators and lobbies and a 70,000-square-foot residential expansion.
M. Myers Mermel, a principal of Myers & McLain, told CityRealty.com today, however, that "we are not discussing our plans right now," adding that the company had not expected "the Post article."
The green-glass-clad tower was erected in 1962 and has a F.A.R. (floor-to-area ratio) of 11.26 but can reportedly be built to a F.A.R. of 15. Its facade is similar to that of the tower of Lever House, which was designed by S.O.M. on Park Avenue.
The mid-block building extends through the block to 109 West 39th Street and its east facade is slightly angled in the middle of the block where it overlooks the low-rise Milliken Building on the Avenue of the Americas.
The building's 40th Street entrance is set back in a very handsome plaza with side, gated Japanese-style gardens. It has a very large and sumptuous lobby.
The building, which is known as the Springs Mills Building, is across 39th Street from a new residential project, Bryant Park Tower, and it is very close to another major Garment Center office tower that is planning to convert its 20 top floors to residential condominiums, the 42-story building at 1450 Broadway on the southeast corner at 41st Street.
The higher floors of the east side of this building have views of Bryant Park across the Avenue of the Americas.
There are numerous gargoyles on nearby buildings on 40th Street.
Sources told CityRealty.com today that the sale was concluded last week.
According to an article in today's New York Post by Lois Weiss, the new owners have hired Skidmore, Owings & Merrill to renovate the elevators and lobbies and a 70,000-square-foot residential expansion.
M. Myers Mermel, a principal of Myers & McLain, told CityRealty.com today, however, that "we are not discussing our plans right now," adding that the company had not expected "the Post article."
The green-glass-clad tower was erected in 1962 and has a F.A.R. (floor-to-area ratio) of 11.26 but can reportedly be built to a F.A.R. of 15. Its facade is similar to that of the tower of Lever House, which was designed by S.O.M. on Park Avenue.
The mid-block building extends through the block to 109 West 39th Street and its east facade is slightly angled in the middle of the block where it overlooks the low-rise Milliken Building on the Avenue of the Americas.
The building's 40th Street entrance is set back in a very handsome plaza with side, gated Japanese-style gardens. It has a very large and sumptuous lobby.
The building, which is known as the Springs Mills Building, is across 39th Street from a new residential project, Bryant Park Tower, and it is very close to another major Garment Center office tower that is planning to convert its 20 top floors to residential condominiums, the 42-story building at 1450 Broadway on the southeast corner at 41st Street.
The higher floors of the east side of this building have views of Bryant Park across the Avenue of the Americas.
There are numerous gargoyles on nearby buildings on 40th Street.
Architecture Critic
Carter Horsley
Since 1997, Carter B. Horsley has been the editorial director of CityRealty. He began his journalistic career at The New York Times in 1961 where he spent 26 years as a reporter specializing in real estate & architectural news. In 1987, he became the architecture critic and real estate editor of The New York Post.
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