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Pacolet Milliken breaks ground on NYC high-rise

Staff Report
Published Feb. 27, 2013

Spartanburg-based Pacolet Milliken Enterprises Inc. recently broke ground on its new office tower in New York City.

Spartanburg-based Pacolet Milliken recently broke ground on this New York City tower. (Photo/Provided)
Spartanburg-based Pacolet Milliken recently broke ground on this New York City tower. (Image/Provided)

Pacolet Milliken and its joint-venture partner Hines and equity partner J.P. Morgan Asset Management collaborated on 7 Bryant Park, a 28-story, 470,000-square-foot tower on the Avenue of the Americas overlooking Bryant Park in New York City.

“On behalf of the city of New York, I am proud to welcome 7 Bryant Park to our roster of best-in-class buildings,” New York City Mayor Michael Bloomberg said Monday, according to a news release. “With its exceptional development team and outstanding design, the property will undoubtedly join the ranks of Midtown Manhattan’s iconic landmarks.”

Occupancy is planned for the fourth quarter of 2014. The project is slated for LEED Gold certification.

“Our company and its ownership families are excited to be part of this extraordinary project, which will further enhance the Bryant Park community and contribute beautifully to the New York City skyline,” said Pacolet Milliken President Richard C. Webel. “We are especially pleased to know that this development aligns with Roger Milliken’s legacy of environmental sustainability.”

Architects Henry N. Cobb and Yvonne Szeto of Pei Cobb Freed & Partners Architects LLP designed the development for major tenants, ranging from 100,000 to 250,000 square feet in size. The building is likely to attract major tenants in the technology, media, financial and professional service sectors.

Pacolet Milliken Enterprises is a private, family-owned investment company founded in 2007 by Roger Milliken of Milliken & Co. Its four business units consist of energy and infrastructure; income property in world capital cities; income property in the Southeast; and undeveloped land and forestry.

Hines Interests, a privately owned real estate firm, has offices in 18 countries.

Previous coverage

Pacolet Milliken Enterprises closes on financing of NYC office tower
Pacolet Milliken partners up for NYC high-rise development