Aggregate revenue of contractors in the New York-New Jersey region dipped slightly in 2014, but Lendlease managed to buck that trend with a $112 million increase in regional revenue compared with 2013. It is a trend the company continued from the prior two years when it also saw year-over-year increases.
Lendlease’s revenue is being bolstered by its participation in New York high-end residential boom. Both those factors contributed to the selection of Lendlease as 2015 Top Regional Contractor.
Leandlease is working on the 1,050 ft Museum of Modern Art residence tower, 53W53, a $860 million project that will have 460,000 sq ft of rentable space, with one-bedroom condominiums starting at $3 million.
Lendlease is also working on several of the other residences rising on West 57th St., dubbed “Billionaire’s Row.”
The company has worked on several other projects that are transforming the city’s landscape, from the $138 million One Museum Mile, a residential development that also houses the Museum for African Art, to the expansive new Fulton Street Transit Hub and from the National September 11 Memorial and Museum at the World Trade Center to Columbia University’s new Manhattanville campus in West Harlem.
Lendlease is also pushing into development in New York and recently entered a joint venture for 281 Fifth Avenue where it expects to break ground on a 700 ft residential/retail tower later this year.
The company’s plans and projects will be detailed, along with the full results and rankings for the 2015 Top Contracts in the upcoming July 20 edition of ENR New York.