In 1983, MetLife erected a significant 30-story tower at 85 Broad Street, strategically located in the core of Manhattan’s bustling Financial District. This location is historically notable, as the building stands on the very site of New York City’s first paved road, with sections of the original 17th-century cobblestones thoughtfully preserved and integrated into the building’s lobby floor, offering a tangible link to the city’s rich past.
For nearly three decades, 85 Broad Street served as the prestigious headquarters for Goldman Sachs. As Goldman Sachs experienced growth and sought a larger, more modern campus, MetLife faced a pivotal decision regarding the future of this prime real estate asset. Recognizing the inherent potential of 85 Broad Street, a proactive approach was taken to reimagine and revitalize the property, catering to the evolving demands of contemporary tenants. Persistent engagement and a collaborative vision led to a strategic partnership between MetLife and a development firm in 2014. This partnership was formed to transform 85 Broad Street from a single-tenant occupancy building into a vibrant, multi-tenant destination, designed to honor its storied history while embracing a dynamic future.
A Multi-Million Dollar Renovation Breathing New Life into 85 Broad Street
Over a comprehensive three-year period, a substantial $31 million renovation project was meticulously executed, signaling the commencement of a new chapter for this landmark property at 85 Broad Street. Key enhancements included:
Elevated Plaza and Lobby Experience: The renovation significantly enhanced the building’s public spaces, incorporating 1,100 square feet of detailed relief maps that artistically narrate the historical evolution of the surrounding area. Furthermore, 250 custom-designed sculptural LED bars were installed to illuminate the historic 400-year-old cobblestone road that traverses the ground floor, creating an immersive and visually striking pathway.
Attracting Premier Tenants: The repositioning of 85 Broad Street successfully attracted a diverse portfolio of high-caliber tenants. Over 400,000 square feet of lease agreements were secured with prominent firms spanning the finance, technology, and media sectors, demonstrating the building’s renewed appeal and market relevance.
Activating the Ground Floor: Previously underutilized, the ground floor of 85 Broad Street was transformed into an active and engaging space with the introduction of new retail shops and dining options. Notably, the addition of the popular French bakery and café, Le Pain Quotidien, provided a significant amenity for tenants and the surrounding community.
Achieving LEED Platinum Certification: Demonstrating a commitment to sustainability, the renovation project achieved LEED Platinum certification. This prestigious recognition was earned through significant upgrades to the building’s infrastructure, focusing on enhanced water efficiency, reduced energy consumption, and the implementation of green cleaning protocols.
Modern Amenity Integration: To meet the demands of today’s workforce, 85 Broad Street was equipped with state-of-the-art lifestyle amenities. These additions included a contemporary cafeteria, a fully-equipped fitness center, a versatile two-floor conference center, and a secure bicycle storage room, enhancing the overall tenant experience and promoting a healthy work-life balance.
85 Broad Street: A Testament to Enduring Value and Modern Vision
By thoughtfully enhancing the inherent historical narrative of 85 Broad Street with engaging and immersive installations, the revitalization project successfully breathed new life into this iconic property. In a remarkably short timeframe of just three years, occupancy rates at 85 Broad Street surged from 40% to an impressive 87%. This transformation not only generated substantial long-term value for stakeholders but also solidified 85 Broad Street as a premier destination for tenants and a vibrant contributor to the surrounding community within Manhattan’s Financial District.
