Home Depot Building on W. 23rd St. to Get Multi-Million $$$ Overhaul
William Equities, which owns the building, promises an updated atrium, triplex penthouse suite and new roof deck as part of a major renovation. All tenants will have access to the new deck.
| 03 Jun 2024 | 07:24
A private equity firm unveiled a multi-million overhaul for the buildings on West 23rd St. Photo: Williams Equity.
The building that houses the sprawling Home Depot at 40 W. 23rd Street is to undergo a massive renovation as a part of the property’s multi-million dollar capital improvements program to improve overall amenities for the entire building.
Having recently secured a $155 million CMBS loan, Williams Equities, the real estate firm and private ownership group that owns the space, promises an updated atrium, triplex penthouse suite and new roof deck in a press release from the company.
“We are committed to further elevating 28-40 W. 23rd Street to ensure exceptional experiences with the mindset to meet the desires of today’s tenants and into the future,” a Williams Equities spokesperson said. “We will be delivering something truly special.”
Located in the heart of the Flatiron District, the property houses hardware giant Home Depot on its ground floor, lower level and mezzanine, while a number of leading creative, digital and technology firms are ensconced in its office suites.
Architect George Boyle is spearheading the project, which will feature a new glass cube and extend the building’s skylight, “enhancing the natural light flooding through all floors from all angles,” the press release said.
Williams Equities has already invested in the sustainability of the historic cast-iron property over the past several years, upgrading the building’s infrastructure to be energy efficient. The home supply chain that anchors the project has already signed for an extension at the address, keeping the building a functional asset for New York City shoppers.
All tenants contracted at the property will have access to the new roof deck, allowing for “outstanding views” of Madison Square Park and the Empire State Building, according to the press release.
The firm specializes in “best-in-class workspaces” for its clients, calling the Home Depot property “one of the crown jewels in the Williams Equities portfolio.”
At press time, the “extensive upgrade” has no anticipated completion date.
“We will be delivering something truly special.” William Equities spokesperson