Wharton & Aurora Unveil Transformation of 18-Story Beaux Arts Bldg in Midtown, Manhattan

Manhattan Aurora Capital and Jeff Sutton's Wharton Properties have recently concluded an extensive renovation project at 511 Fifth Avenue, a magnificent 18-story Beaux Arts building. This iconic structure is just steps away from Grand Central Terminal, making it a prime location in the heart of Midtown, Manhattan. The renovation's primary goal was to bring the building up to modern office space standards while preserving its rich historical character. JLL has been chosen as the exclusive leasing agent for the property, which is strategically positioned at the southeast corner of Fifth Avenue and East 43rd Street.

A Glimpse into Its Illustrious Past

Built in 1915 by York & Sawyer for the Postal Life Insurance Company, this limestone-clad building has a storied history. Over the years, it has been home to institutions such as the Columbia Bank and Guaranty Trust Company before serving as the New York headquarters for Israel Discount Bank (IDB) in the early 1960s. In 2021, following IDB's departure, the renovation project was set in motion, with BKSK Architects leading the redesign effort. The 160,000-square-foot property underwent a comprehensive transformation to provide a modern workspace while preserving its historic facade. The crown jewel of the renovation is the 18th-floor penthouse, boasting double-height ceilings and a mezzanine with breathtaking views stretching from Central Park to the World Trade Center. Additionally, a new 9,000-square-foot amenity space has been added to the 15th floor, featuring a juice bar, a cozy lounge, a well-equipped fitness center, and a locker room with showers. The renovation also includes upgraded lobbies, five new elevators, and a comprehensive amenity package designed to cater to the demands of modern tenants. Prospective tenants can choose from prebuilt full-floor suites that come with separate finish packages, including conference rooms, pantries, common areas, and offices, ensuring a convenient turnkey solution.

In Closing

The completion of the renovation project at 511 Fifth Avenue represents a harmonious blend of history and modernity in the heart of Manhattan. This iconic Beaux Arts building, once home to prestigious financial institutions, now stands ready to meet the needs of modern businesses while preserving its historic charm. With its prime location, breathtaking views, and an array of modern amenities, it is set to become a sought-after workspace in the bustling heart of Midtown. As JLL takes the reins as the exclusive leasing agent, the future of this landmark property looks promising, and it continues to play a significant role in the city's architectural and business landscape.