View Smart Windows Transform 100 Pearl Street Overbuild in the Financial District, Lower Manhattan
July 12 2021 - 7:00AM
View, Inc. (Nasdaq: VIEW) (“View”), the leader in smart building
platforms and smart glass, today announced its smart windows will
be installed at the new overbuild at 100 Pearl Street, a Class-A
office tower in Lower Manhattan currently undergoing a
top-to-bottom transformation by GFP Real Estate and Northwind
Group.
100 Pearl Street, which encompasses a full city block on Hanover
Square, is being renovated into a premier downtown New York City
office asset with rare all-glass penthouses offering uninterrupted
360-degree views across the East River toward Brooklyn and south
over New York Harbor to the Statue of Liberty. The design of the
double-height, 24-foot all-glass penthouses are made possible by
View Smart Windows, which use artificial intelligence to tint
automatically, optimizing natural light and views of the outdoors
while minimizing heat and glare. View Smart Windows are designed to
make buildings healthier, smarter, and more energy efficient, a
critical differentiator in asset renovations which ultimately
boosts the bottom line for both landlords and their tenants.
As part of the 100 Pearl Street transformation, investment firm
Fred Alger Management, LLC, is leasing out the 28th and 29th Floor
penthouses. The move in will mark Fred Alger Management’s return to
downtown Manhattan after nearly 20 years.
“Our vision was to transform 100 Pearl Street into a statement
piece on the busy Manhattan cityscape,” said Brian Steinwurtzel,
co-CEO of GFP Real Estate. “Our tenants want exclusive amenities.
They want their offices to adapt to their needs and enhance the
mental and physical well-being of their employees. View’s smart
window technology helps us accomplish that goal.”
Smart glass offers significant health advantages by reducing the
incidence of eyestrain and headaches by over 50%. In a recent
study, employees working next to View Smart Windows improved their
sleep by 37 minutes per night and cognitive function by 42 percent.
These findings are particularly important today as users are
focused on health, wellness, and re-entering the workplace with
confidence.
“Companies around the world are reinventing buildings to be
experiential, sustainable, healthy, and smart,” said Dr. Rao
Mulpuri, Chairman and CEO of View. “Renovations like those taking
place at 100 Pearl represent a tremendous opportunity to transform
the built environment to optimize the health and well-being of
occupants. We’re thrilled to once again partner with a developer as
forward-thinking as GFP Real Estate.”
View is designed into 75 million square feet of buildings
including offices, hospitals, airports, educational facilities,
hotels and multi-family residences. 100 Pearl Street is the first
Downtown Manhattan property to feature smart windows from View.
Previously, GFP installed View at its N6 Lofts property, a former
warehouse building that was reimagined into a high-end creative
office space located in Williamsburg, Brooklyn.
About ViewView is the leader in smart building
platforms and smart windows that transform buildings to improve
human health and experience, reduce energy consumption and carbon
emissions, and generate additional revenue for building owners.
View Smart Windows use artificial intelligence to automatically
tint in response to the sun, eliminating the need for blinds and
increasing access to natural light. Every View installation
includes a cloud-connected smart building platform that can easily
be extended to improve indoor cellular coverage, enhance building
security and reimagine the occupant experience. View is installed
and designed into 75 million square feet of buildings including
offices, hospitals, airports, educational facilities, hotels and
multi-family residences. For more information, please visit:
www.view.com.
About GFP Real EstateCommitted to building a
better New York since 1952, GFP Real Estate is a vertically
integrated owner, operator, property manager and developer of
commercial real estate in the New York TriState Region. With over
55 buildings and more than 12.8 million square feet under
Ownership, GFP’s portfolio includes some of the City’s most iconic
real estate assets, including the Flatiron Building (175 Fifth
Avenue), The Film Center Building. (630 Ninth Avenue), 515 Madison
Avenue, 1560 Broadway and 40 Worth Street. In addition to managing
and leasing its own properties, GFP also provides management and
leasing services to third-party building owners, representing an
additional 20 buildings that cover more than 4 million square feet.
The combined GFP portfolio of both owned and managed properties
totals 75 buildings and approximately 16 million square feet,
cementing the firm’s reputation as one of New York City’s premiere
real estate owners and operators.
Helmed by three generations of the Gural family over six
decades, the company is steeped in the tradition of doing business
the family way. GFP Real Estate delivers unparalleled service to
their over 2,500 tenants, one-third of which are not-for-profits.
The company employs more than 600 full-time professionals to
oversee every element of real estate management. Their dedication
results in a remarkable 90% tenant renewal rate and 99% occupancy
rate.
About Northwind GroupNorthwind Group is a real
estate private equity firm based in Manhattan that invests in the
following three main strategies: 1. Value add commercial and
residential properties in NYC 2. Acquires develops and operates
senior-living & healthcare properties across the Midwest and
East Coast 3. Provides first-priority senior-secured loans,
mezzanine financing and preferred equity investments secured by
real estate properties located in the Greater New York area. Since
inception, Northwind has been involved in the acquisition,
development, management, and financing of properties totaling over
$2 billion in value.
Contacts:
For Investors: Samuel
MeehanIR@View.com408-493-1358
For Media: Tom Nolan, Great
Inktom@greatink.com908-392-0333
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/bbdf78d2-3ec8-47fd-a692-e904887fa37e
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