Tishman Speyer put a number on the Chrysler Building job two weeks ago — $235 million. Now there are renderings, and renderings mean the scope is locked enough to price.
New York YIMBY published the first look at the renovation design for the 1930 Art Deco tower at 405 Lexington Avenue, first reported by New York YIMBY. The images show lobby and amenity-space upgrades plus facade and systems work consistent with the $235 million figure Tishman Speyer disclosed for the project, which runs alongside the firm's new 150-year ground lease on the building.
For a GC or a specialty sub, renderings are the signal to start building a relationship with the design team before the scope goes to bid. A building this age means abatement, landmarks sign-off, and occupied-building logistics — all things that get priced differently once drawings exist instead of a dollar figure alone.
No bid has been posted yet. Tishman Speyer has not said when it will procure the work or whether it will go to a GMP contractor or be broken into trade packages, which matters a great deal given the building's landmark status and the likely involvement of the NYC Landmarks Preservation Commission on any exterior work.
M/WBE participation terms haven't been disclosed because this is a private deal, not a public contract — no mandated goal applies unless Tishman Speyer sets one voluntarily or financing requires it.
What to do now: subs and consultants with landmark-building experience should start tracking Tishman Speyer's design team contacts through public project records; the firm has signaled it's moving, but a bid date hasn't been set.