The Davis Cos. has launched a joint venture with New York-based Tribeca Investment Group (TIG) to execute a comprehensive capital investment and improvement plan at 630 Third Avenue, a 261,445-square-foot, 23-story office building in Midtown Manhattan’s Grand Central submarket. In collaboration with the property owner ATCO, Davis and TIG will reposition the building through the investment of more than $50 million to stabilize the property and complete a full lobby renovation, the construction of a tenant amenity and conferencing space, and delivery of move-in ready office suites for prospective tenants.
“The Grand Central market continues to see strong leasing activity, and our investment will position this asset to capitalize on this growing tenant demand,” said Andrew Kurd, managing director of investments at Davis. “This is the latest milestone for Davis’ growing portfolio in the New York region, and we are confident that our planned improvements at 630 Third Av
