BUILDING VALUE WITH IVY REALTY
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Like many industries, the commercial real estate business tends to be cyclical—a building gets updated to keep up with trends and tenant preferences, and eventually needs upgrading again as those trends change and the building ages. Savvy developers understand this cycle and plan their investment strategies accordingly.
Along with architect Cardarelli Design & Architecture, Pavarini Northeast Construction has had the good fortune to work with a team leading that sort of strategic long-term investment to enhance commercial properties across the Northeast. Ivy Realty was founded in 1996 to invest and manage commercial real estate properties in New Jersey and quickly began expanding their portfolio across the Northeast, eventually expanding into southern Florida. Their long-term vision and care¬fully managed property investment strategy has resulted in over $1.5 billion and 11 million square feet in commercial real estate assets.
The Pavarini team first worked with Ivy Realty in 2008, managing some tenant renovations and base building infrastructure upgrades for one of Ivy’s retail complexes in White Plains, New York. Since then, Pavarini has managed construction projects of all shapes and sizes across Ivy’s properties, from tenant fit-outs ranging from law firms to engineering companies, to new exterior plaza renovations, to MEP infrastructure upgrades.
The team recently renovated several spaces for Ivy Realty at 445 Hamilton Avenue in downtown White Plains, including adding a conference center to the lobby and upgrading the café and servery. That work has led to a number of corridor and bathroom renovations, including work at their “sister” building, located at 1 North Broadway.
“I came here for an eight-week job two years ago and have been working here since,” says Arthur Moran, Pavarini superintendent. “At some points we have had overlapping jobs. There is never a dull moment.”
The team is continuing interior work at 1 North Broadway, which has involved replacing finishes, including a 3Form woven wall design feature, up¬grading the millwork, completely replacing all the tile with new quarry tile, installing a new ceiling and new lighting and adding wire railings at the mezzanine level. On the exterior, the team is also rebuilding the entry area canopy with a steel-and-glass overhang, recladding, enhancing the lighting and updating the stucco and paint finishes.
“Much of the common space at both buildings was outdated, and Ivy’s intention was to draw and retain potential tenants,” says John Maxwell, Pavarini project manager. “It was a long-overdue facelift of sorts, and it has definitely proven its worth.”
After working together on such a varied array of projects and building types, the combined project team has gotten to know each other well, including the tenants for whom the spaces were renovated.
“There are always challenges when working in occupied buildings and in the middle of cities like White Plains. We have established a great working rapport with the entire team, including Stefano Cardarelli and entities like the White Plains Public Works and Building departments. That sort of teamwork really helps in understanding how best to resolve any issues,” Maxwell says.
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Client: Ivy Realty
Architect: Cardarelli Design & Architecture P.C.
Engineer: Lecce Engineering
Services: Preconstruction, Construction Management
Completion: September 2017
Photos courtesy John Baer/Building Images Photography.