SOURCE: Kaufman Organization

June 26, 2014 10:30 ET

100-104 Fifth Avenue Achieves WiredNYC Platinum Status

Connectivity Designation Is End Result of Reposition Strategy to Attract Tech Tenants

NEW YORK, NY--(Marketwired - Jun 26, 2014) - Real estate investment manager Clarion Partners, LLC and the Kaufman Organization today announced that 100-104 Fifth Avenue has been certified Platinum by WiredNYC. The program evaluates the broadband connectivity and telecommunications infrastructure of New York City's office buildings, rating them from "connected", through "silver, gold and platinum." A Wired Certified Platinum building provides tenants with access to best-in-class internet providers, as well as full distribution of fiber connectivity throughout the building ensuring that tenants are protected from service interruptions.

Tenants at 100-104 Fifth Avenue have access to unique sources of high-speed fiber or copper connectivity, and seven internet services providers which include Verizon, Time Warner Cable, TW Telecom, Abovenet, Broadview, Level and Windstream. The building's infrastructure is well prepared for the unexpected; it has multiple points of entry for connection diversity in case one entry is damaged, and dedicated spaces for telecom equipment. The building has multiple risers available for use should one riser be disrupted. Moreover, management is capable of providing tenants with additional internet service.

"To compete in Midtown South, and attract tech and creative tenants, a building needs to offer a wide range of high-end broadband options. Tenants want to feel confident that their workplace's telecommunications infrastructure is sound," said Margaret Egan, Senior Vice President of Clarion Partners. "A Wired Certified Platinum building gives us a platform to showcase 100-104 Fifth Avenue's assets. It also provides tenants with peace of mind, because they know that they are working in a true state-of-the-art building." 

In 2010, ownership invested $7.5 million in a capital improvement program that modernized the building with renovations to the lobby and building systems, including the passenger elevators, security and HVAC. Since then, the repositioned property has attracted major tech tenants like Yelp, who has leased 70,000 square feet of space within the last three years and joining other well established tenants representing a wide-range of industries, such as technology, media, fashion, advertising and real estate. Approximately 10,000 square feet of space is currently being marketed on a direct basis for near-term occupancy. 

100-104 Fifth Ave., built in 1905, is a 17-story, 270,000-square-foot building located in Union Square. The building features a mix of creative and new media companies, advertising and architectural firms, educational companies and financial firms. Kaufman has signed several major digital firms in the building including Apple, Yelp, Interactive Partners and Net-A-Porter. The property features modern lobbies, elevators and hallways, advanced telecommunications amenities that include the latest in video and access control security. 100-104 Fifth Avenue is also certified by Wired NYC.

Clarion Partners has been a leading U.S. real estate investment manager for over 30 years. With more than $30 billion in total assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to its more than 200 domestic and international institutional investors.

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