The $144 Million Secret Of 111 Fifth Avenue: 5 Shocking New Updates Inside NYC's Historic Constable Building
Step inside one of Manhattan’s most architecturally significant properties, 111 Fifth Avenue, and you’ll find a fascinating blend of 19th-century grandeur and cutting-edge 21st-century commerce. This iconic building, also known as the Constable Building, is currently making headlines in the New York commercial real estate market, not for a sale, but for its staggering valuation and a flurry of major tenant activity that underscores its status as a premier office destination in the Flatiron District.
As of late 2024 and heading into 2025, the property is undergoing a significant transformation, attracting high-profile companies with a massive new amenity package. The building’s current assessed value alone tells a story of immense financial weight, solidifying its position as a crown jewel of Fifth Avenue’s commercial corridor and proving that historic architecture can still be a magnet for modern business.
The Constable Building: A Profile in Architectural & Commercial History
The structure at 111 Fifth Avenue, which spans the address range of 109–111 Fifth Avenue, holds a rich and detailed history that anchors its importance in the fabric of New York City’s Flatiron District.
- Official Name: The Constable Building (or Arnold Constable Building)
- Location: Northeast corner of Fifth Avenue and East 18th Street, Flatiron District, Manhattan.
- Original Purpose: Built for the Arnold Constable & Company dry goods business.
- Year Completed: 1877
- Architectural Firm: William Schickel & Company (often credited to William Schickel & Ditmars).
- Architectural Style: Classic 19th-century commercial style, featuring exceptional architectural detailing.
- Current Property Type: Multi-tenant Office/Commercial.
- Landlord/Owner: The Winter Organization.
- Building Size: Approximately 582,602 square feet (SF) of office space.
- Sustainability Status: LEED Certified Gold.
The Financial & Corporate Powerhouse of 111 Fifth Avenue
Far from being a static landmark, 111 Fifth Avenue is a dynamic commercial hub whose recent activity and valuation speak volumes about the strength of Manhattan’s office sector, particularly for high-quality, amenity-rich properties.
1. Staggering $144 Million Assessed Valuation
The financial scale of the Constable Building is immense. The property’s assessed value for the 2024/2025 tax year has reportedly topped a remarkable $144 million. This substantial figure reflects not only the prime real estate location in the Flatiron District but also the building’s maintained quality, architectural heritage, and its ability to command premium rents from top-tier tenants.
2. Vita Coco Chooses 111 Fifth as New Global Headquarters
In a major coup for the building’s landlord, The Winter Organization, the popular coconut water brand Vita Coco has secured a significant long-term lease. The company signed a 10-year lease for 22,530 square feet of office space, establishing its new global headquarters at 111 Fifth Avenue. This move highlights the building's appeal to modern, lifestyle-focused brands looking for a prestigious and well-connected Manhattan address.
3. The Highly Anticipated 2025 Penthouse Amenity Floor
A key factor in attracting major new tenants like Vita Coco is a massive new amenity package currently being rolled out. The building is set to unveil a brand-new penthouse amenity floor in 2025. This high-end space is designed to cater to the modern workforce's demands, offering a compelling blend of work, wellness, and social spaces that are crucial for companies competing for top talent in New York City.
4. Attracting Tech and Data Innovators: The Radar Labs Lease
The building's tenant roster is not limited to consumer goods; it also serves the burgeoning tech sector. Geolocation platform company Radar Labs further cemented 111 Fifth Avenue’s status as a tech-friendly hub by signing a seven-year lease for 20,000 square feet on the 12th floor. This dual appeal to both established consumer brands and fast-growing technology firms demonstrates the property’s versatility and strong market position within the Flatiron commercial real estate landscape.
5. LEED Gold Certification and Modern Infrastructure
Despite its late 19th-century origins, the Constable Building operates with 21st-century efficiency. The property has achieved LEED Certified Gold status, a designation from the U.S. Green Building Council that recognizes excellence in energy efficiency and environmental design. This certification is a critical entity for modern corporate tenants, who are increasingly prioritizing sustainability and operational efficiency in their choice of office space.
Furthermore, the interior office spaces, such as a recent full-floor design by Gensler, feature highly stylized, modern layouts. These spaces include executive offices, multiple conference rooms, and open workstations, ensuring that the historic shell houses a completely contemporary and functional working environment.
More Than Just an Address: The Enduring Legacy
The Constable Building, designed by the prolific William Schickel & Company, stands as a testament to the grand commercial architecture of the post-Civil War era in New York. Its location at the northern edge of the Ladies' Mile Historic District made it a center of retail and dry goods commerce before its transition to a multi-tenant office building. The building’s historical details, combined with the efforts of its current landlord, The Winter Organization, ensure its continued relevance.
From the architectural prowess of the 1870s to the major corporate leases of 2024 and the anticipated 2025 penthouse amenities, 111 Fifth Avenue remains a powerful symbol of New York’s ability to preserve its past while aggressively investing in its commercial future. The building’s continued success and impressive valuation confirm that properties with deep history and modern upgrades are the ultimate winners in Manhattan's dynamic real estate market.
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