The 15-story tower at 30 Montgomery Street was purchased by Rubenstein Partners and Onyx Equities for $57 million in 2013. At the time, the tower was badly damaged during Superstorm Sandy. At the height of the storm, the building amassed about 50 feet of water in its lower and below grade floors.
The partnership soon began a $20 million renovation to repair and upgrade the property that included a brand new lobby, all new windows, a high-efficiency HVAC system, backup generators, and a new Executive Conference Center. They also reconfigured two street-level retail spaces to increase their attractiveness to prospective tenants.
30 Montgomery’s location is particularly attractive based on the rapidly transforming Hudson Waterfront submarket, which is benefiting from strong population growth, sustained residential development, expanding cultural/entertainment/retail amenities and a diversification of the local employment base.