By: Ismael Rodriguez
East End Capital plans to renovate its New World Tower office building in downtown Miami, investing $10 million on the property and renaming it 100 Biscayne in connection to the address.
The renovations would be designed by Zycovich Architects, which has leased space in the office building, and they will include everything from a new lobby, new bathrooms and additional space for communal work and work conferences, to the removal of a granite exterior to expose its original marble columns.
“We’re taking a Class B space and turning it into Class A,” David Peretz, managing principal of East End Capital, told the press, adding that tenants seeking 1,000 square feet to 5,000 square feet are the target market of the new 100 Biscayne tower.
The New World Tower is currently 80 percent occupied, and its rents range up to the mid $30s per square foot. Some well-known tenants include Louis Vuitton and the consulate offices of Germany and Israel.