Pricey and Chic: Developers Plan Class A Office Building in Meatpacking District

Behold! New Meatpacking District office and retail space. This coming to you in September 2007 after the Icon Group spruces up, joins and expands 414-416 West 14th Street.

Terrence Lowenberg, principal at Icon, said the new space will offer 55,000 square feet as a “boutique Class A office building.”

The asking rents will be steep: $55 a foot for office space (averages in the West Village are in the $30s) and $200 per square foot annually for retail.

Lowenberg said on Monday no tenants have been finalized and talks are ongoing.

The two buildings now clock in at a combined 26,000 square feet. The Icon Group, which purchased the two buildings in March for $18.5 million, is adding two floors to the top of both and replacing closed parapets with windows for a chic Meatpack-ish look.

All current tenants have been asked to leave, and, beginning next month, Icon will gut and renovate the insides to prepare store openings and office space for next September – all the while hoping to draw deep-pocketed tenants.

– John Koblin