Portfolio

Time Warner Center

New York, New York


Market: New York City

Type: Mixed-Use, Retail

Role: Development Partner

Status: Development completed in 2004

Acclaimed mixed-use high-rise along Central Park that has become a prominent New York City landmark.

Interest

  • Equity ownership of retail venue and parking garage

Property Size                           

  • 338,500 square feet of retail space
  • 504-vehicle parking garage

Local Population Density

  • 50,500 people/square mile

Highlights

  • Invested in the development of the retail venue – The Shops at Columbus Circle — and parking garage through a venture with the property’s developers, Related Companies and Apollo Real Estate Advisors, which built Time Warner Center as separate, individually owned components.
  • Developed on the former site of the New York Coliseum convention and exposition center along Columbus Circle on Manhattan’s Upper West Side, directly opposite Central Park.
  • Consists of two 55-story towers featuring 1.1 million square feet of office space, a Mandarin Oriental Hotel, The Shops at Columbus Circle retail venue, residential condominiums, Jazz at Lincoln Center performance and educational facilities, and a public parking garage.
  • Acquired an equity joint-venture interest with Related and Apollo in The Shops at Columbus Circle and the garage after holding a construction loan secured by the two components.
  • The Shops at Columbus features nearly 50 upscale shops and restaurants on two lower concourses and the property’s first four floors. Key tenants include Whole Foods, Equinox Fitness Club, A|X Armani Exchange, Williams-Sonoma, Coach, Microsoft and Stuart Weitzman as well as The Restaurant and Bar Collection, which features world-class restaurants by Thomas Keller (Per Se), Masayoshi Takayama (Masa), Michael Lomonaco (Porter House Bar and Grill) and other trend-setting chefs and restaurateurs.
  • One of New York City’s leading social and cultural destinations, the property serves as a crucial link between Times Square and the Upper West Side and has helped revitalize its immediate area.

Awards & Honors

  • One of just 11 properties worldwide to win the Urban Land Institute’s Global Award for Excellence in 2005.

Related Websites

 

Walk Score:  99     |    Transit Score:  100     |     Bike Score:  80