MOINIAN GROUP LAUNCHES $15 MILLION RENOVATION OF OFFICE TOWER

NEW YORK CITY — The Moinian Group has launched a $15 million capital improvement program for 295 Madison Avenue, a 47-story, 330,000-square-foot office tower located in Manhattan, New York City. Renovations will include a new grand lobby featuring Italian travertine stone flooring and walls, mirrored glass elevator walls, new digital turnstiles and elevator cabs. A new steel canopy will be built at the building’s entrance with the building’s signage prominently displayed in lights. The buildings ornate cast iron façade will be restored, and the exterior limestone surfaces will be power washed. The building will also see 2,000 new tilt-and-turn windows throughout the building. Finally, high-end retail space will be constructed along the building’s Madison Avenue front, and extending 180 feet along 41st Street. Gensler Architecture has been selected to design the retail space and the new grand lobby. Mitch Konsker, Matthew Astrachan, Mitchell Arkin and Mikael Nahmias of Cushman & Wakefield are serving as leasing agents for the property. Completion is scheduled for the first quarter of 2009.