|
  |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OWNED & DEVELOPED BY ARGENT VENTURES
Argent Ventures is a New York City based real estate investor and developer. In the last ten years, Argent has been involved in over $2.5 billion worth of real estate transactions throughout the United States. Our investments have included ownership in all major asset categories including office, retail, industrial, hotel, and residential.
The following is a sampling of just a few major projects that Argent owns or has owned:
MALL
The Manhattan Mall is a 1,000,000 SF enclosed mall and office building in midtown Manhattan. Despite being part of a transportation hub, with subway and train entrances in the building’s lower levels, the building had been known as a ‘white elephant” because the nine levels of vertical retail space were unattractive to shoppers. Argent’s $80m + redevelopment effort consisted of converting the higher floors of retail to office use, repositioning the retail layout on the lower floors through the elimination of a weak anchor tenant, and building a destination food court to meet the heavy demand for such product in the Macy’s-Herald Square sub-market. The result has been an enormous success, as the new office floors have been completely leased and retailers, now limited to the stronger lower floors, have reported considerable growth in their sales per square foot.
PARK AVE
One Park Avenue is a 920,000 square foot building located in midtown Manhattan, on Park Avenue between 32nd and 33rd Streets. At the time of Argent’s acquisition of the property, the property had been languishing due to a protracted foreclosure action. Due to the foreclosure, the 75 year old building was suffering from substantial deferred maintenance and outdated systems and finishes. In addition, approximately one-third of the property was vacant. Argent immediately devised and implemented an extensive renovation plan, including the building lobby, elevators, restrooms and systems in tenant spaces. The renovations preserved the building’s original detailing while providing a fresh updated look. Within a 12-month period all vacant space was re-leased to such credit tenants as Coty cosmetics, Mt. Sinai-NYU Hospitals, The Segal Companies, and Advanstar Communications. Argent also renovated and leased mezzanine space in the building that had remained vacant for over 10 years. The building was sold to SL Green, a publicly traded REIT, in January 2001.
300 BLVD EAST
300 Boulevard East, Weehawken, New Jersey is a 330,000 square foot suburban office building located just outside the entrance to the Lincoln Tunnel. At the time of acquisition, the property was 22% occupied by office users. Argent developed a plan to convert the building’s vacant space to internet data center use and the building quickly achieved 100% occupancy. The building was sold to Digital Realty Trust in 2002.
LANDMARK OF EAST VIEW
Landmark is an 800,000 sf office/lab campus in Tarrytown, New York and includes one of the largest available development sites n Westchester County which will include housing units and lifestyle and big box retail. The lab campus was sold to BioMed Realty Trust in 2004. This project is a joint venture of Argent and LCOR Incorporated.
PARIS, FRANCE
Argent was the owner of a 600,000 sf office development site adjacent to LA Defense in France. The site was originally a gas meter factory that Argent re-zoned and developed for office. This development was a joint venture of Argent, HRO International and Lehman Brothers.
CHRYSLER CENTER
Chrysler Center is a nearly two million square foot complex, which includes the world-renowned Chrysler Building. In 1997, Argent partnered with Tishman Speyer, Lehman Brothers and Citigroup in the acquisition of the property out of bankruptcy.
685 THIRD AVENUE
685 Third Avenue is a 600,000 sf office building in Midtown Manhattan. When purchased, it was only 30% occupied and at the time it was sold to a California State Teachers Retirement System, occupancy had surpassed 90%.
|
|
|
|
