Gorjian Real Estate Group announced the update of the 123,000-square-foot Art Deco building at 192 Lexington Avenue. Built in 1926, the Midtown Manhattan office space―which provides access to several subway lines, commuter railways and bus lines on Third Avenue and East 34th Street―previously underwent a cosmetic renovation in 2007.
192 Lexington Avenue, New York
Gorjian began its rehabilitation efforts after it acquired the 17-story property in 2018 for $89 million. As part of the renovation, the building’s lobby was clad in light gray Italian stone, a glass mosaic was installed across from the entryway, and the reception desk and elevator were covered in black leather panels. Additionally, Mattress Firm―one of the property’s tenants―ceded roughly 200 square feet of its ground floor retail space to allow for the creation of a double-wide glass entrance and 25-foot-high ceilings.
Upstairs, the 14th floor now boasts new, glass-walled conference rooms, illuminated by LED fixtures, as well as modern kitchens with white islands and black cabinets and appliances. Furthermore, previously under-utilized space on the 14th and 16th floors has been converted into terraces, bordered by new glass walls for increased daylight.
The property at 192 Lexington Avenue is currently 85% leased, which proved to be a challenge during the renovation process. Tenants include architecture and design firm Gustavson/Dundes, custom glass curtainwall manufacturer Benson Industries, and leading foodservice design consulting firm Jacobs Dolan Beer. Gorjian hired Newmark Knight Frank’s David Falk, Alex Leopold, Eric Cagner and Bernard Weitzman to market the 16th and 17th floors of the newly restored office tower as a penthouse with a landscaped roof deck.
