Above all else, the primary objective of a real estate investor and developer is to create beauty and improved functionality through each of their projects. Chairman and CEO of Philips International Philip Pilevsky, along with his sons Seth and Michael Pilevsky, has spent his career becoming one of the most notable real estate developers in New York City, with approximately 200 holdings across the United States. Pilevsky, who has earned recognition as a national figure in real estate, academia, and public policy, has dedicated himself to preserving the culture and aesthetic that has made New York such a hub of unique and innovative neighborhoods and architecture. Indeed, for Seth Pilevsky, relationships in real estate development have been a crucial factor in the company realizing a great many of its iconic buildings.
Known for taking undervalued properties and reinventing them, Philips International’s most recent New York project is a major overhaul of the mid-century Tribeca office block at 250 Church Street. Recently, the city’s Resources Administration/Department of Social Services (HRA/DSS) has moved out of the building to consolidate its offices inside 4 World Trade Center, leaving the building unoccupied and unused. In a supportive gesture of young entrepreneurship, Philip Pilevsky’s team is planning on transforming the full block-front property into a sleek, amenity-filled workhouse in the hopes of luring young techies and media companies.
In addition to the building’s repurposing, it will also be rebranded as 101 Franklin Street, a more alluring alternative to the outdated Church Street address. Philips International will be working with office-space experts Gensler New York to lead the repositioning. The project will begin by shedding the 15-story building’s beige exterior and replacing it with a dapper grey-brick skin. The windows will also be replaced, removing the double-hung windows and exchanging them for multi-pane, factory-sash-style windows that match the structure’s original design. Three double-height sections of the building will also be removed to provide outdoor terraces for tenants. For more information on this ongoing project, please see 'Philips International, The Importance Of Relationships In Real Estate Planning And The Statue of Liberty,' on philips-international.com)
Though construction permits have not been filed yet, the project has launched a leasing website with Newmark Grubb Knight Frank to market the office space. Outlook on the project’s completion is extremely positive, with Philip Pilevsky’s decades of experience in the real estate industry backing it. Philips International has remained consistently ahead of the curve and a bellwether for market trends, owning and developing an extremely diverse group of buildings that includes hotels, office centers, retail space, condominiums, and residential rental housing. The Tribeca project is sure to continue the company’s legacy as a leader in real estate growth across the country.
Known for taking undervalued properties and reinventing them, Philips International’s most recent New York project is a major overhaul of the mid-century Tribeca office block at 250 Church Street. Recently, the city’s Resources Administration/Department of Social Services (HRA/DSS) has moved out of the building to consolidate its offices inside 4 World Trade Center, leaving the building unoccupied and unused. In a supportive gesture of young entrepreneurship, Philip Pilevsky’s team is planning on transforming the full block-front property into a sleek, amenity-filled workhouse in the hopes of luring young techies and media companies.
In addition to the building’s repurposing, it will also be rebranded as 101 Franklin Street, a more alluring alternative to the outdated Church Street address. Philips International will be working with office-space experts Gensler New York to lead the repositioning. The project will begin by shedding the 15-story building’s beige exterior and replacing it with a dapper grey-brick skin. The windows will also be replaced, removing the double-hung windows and exchanging them for multi-pane, factory-sash-style windows that match the structure’s original design. Three double-height sections of the building will also be removed to provide outdoor terraces for tenants. For more information on this ongoing project, please see 'Philips International, The Importance Of Relationships In Real Estate Planning And The Statue of Liberty,' on philips-international.com)
Though construction permits have not been filed yet, the project has launched a leasing website with Newmark Grubb Knight Frank to market the office space. Outlook on the project’s completion is extremely positive, with Philip Pilevsky’s decades of experience in the real estate industry backing it. Philips International has remained consistently ahead of the curve and a bellwether for market trends, owning and developing an extremely diverse group of buildings that includes hotels, office centers, retail space, condominiums, and residential rental housing. The Tribeca project is sure to continue the company’s legacy as a leader in real estate growth across the country.
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