OCDM Selected as Construction Manager to Modernize and Renovate the 411,675 SF Midtown West Property
OC Development Management (OCDM), a New York-based development management firm specializing in turn-key project management and construction management services, announced today that it is nearing the halfway mark of construction on the base building redevelopment of 368 Ninth Avenue, a prime building in one of Midtown West’s most heavily-trafficked corridors.
OCDM is working with landlord Nuveen Real Estate to renovate and revamp the building’s lobby and ground floor, as well as complete upgrades to the building’s façade and create a brand new, 2,000 square-foot rooftop amenity space on the top floor, which will offer panoramic views overlooking the New York City skyline. The entire project is expected to be completed in the third quarter of 2019.
Originally built in 1930 by Sears Roebuck & Company as a combination warehouse and office building, the property was acquired by Nuveen Real Estate from the Feil Organization and Savanna in late 2014. The building – situated at the southeast corner of 9th Avenue and 31st Street – sits in close proximity to Penn Station, Hudson Yards and Chelsea neighborhoods.
OCDM’s work has paved the way for WeWork’s new 236,000 square-foot location at the building, which was the largest co-working transaction completed in New York City in 2018. In addition to serving as Nuveen’s CM, OCDM recently completed the construction of the first two floors of the WeWork lease.
“We are thrilled to be working with both Nuveen Real Estate and WeWork to enliven the street presence and amenity areas of this prominent Midtown West building,” said Jonathan Ninnis, Principal and President, OC Development Management. “Given its prime location near Penn Station and Hudson Yards, we believe this project will transform the property and enhance tenants’ and visitors’ experience at 368 Ninth Avenue.”
“Our vision to redevelop this underutilized property into a class A office building with amenities is now becoming a reality,” said Galina Breslav Senior Director at Nuveen Real Estate. “OCDM’s fully integrated team understands our goals and objectives for the asset, and are a true partner in our long-term strategic planning.”
The construction management team at 368 Ninth Avenue includes OCDM’s Principal and CEO Jonathan Ninnis, Vice President of Construction John McGrath, Senior Project Manager Michael Guarasci, Project Manager George Yosifides, Senior Superintendent Dennis Ohel, and Senior Project Superintendent Peter Turski. The project management/owner’s representation team consists of OCDM’s Principal and Director of Project Management Jamil Lacourt and Project Manager Brendan Graham.
About OC Development Management
Founded by industry veteran Jonathan Ninnis, OCDMis a Development Management Services firm specializing in providing full execution capability in the development of real estate for both owner/developers and corporate clients. Under the development management platform OCDM is the only firm in the NYC area providing both expert and neutral project management and construction management services from project inception through turnover and occupancy.
Nuveen Real Estate
Nuveen Real Estate is one of the largest investment managers in the world with $125 billion of assets under management. Managing a suite of funds and mandates, across both public and private investments, and spanning both debt and equity across diverse geographies and investment styles, we provide access to every aspect of real estate investing. With over 80 years of real estate investing experience and more than 500 employees located across over 20 cities throughout the United States, Europe and Asia Pacific, the platform offers unparalleled geographic reach, which is married with deep sector expertise.
