"The Future is Here" - One-on-One with L&L Holding Co's Rob Lapidus Part 1
October 03, 2018
Robert Lapidus of L&L Holding Co. was interviewed by Lisa Knee, a Real Estate Partner at EisnerAmper, about the development at 390 Madison Avenue. They also spoke about the kinds of spaces that institutional tenants are looking for in order to attract employees, the needs of Millennial tenants, and how retail spaces enhance properties.
LK: The hottest topic right now in business today is talking about the millennials and creating a work-life dynamic for them addressing their office needs in their office space, your sign downstairs says the future is here, how have you addressed those issues within this space and how do you advise the tenants who are looking?
RL: So in general, you know, the workplace environment has changed a lot the millennial generation is going to be more than fifty percent of the workforce over the next through 20 or 30 years, basically people want to collaborate more the whole idea of big offices and people walled off from each other was really a design of the past it started with technology companies you know Silicon Valley, where people are working together hand in hand and that concept has really transformed the way tenants use their space so in all of our buildings we try to create amenities and create collaborative space for tenants that really speaks to their culture and speaks to the way in which you know they work today and how they want to retain and how they want to attract the best employees and retain them as well.
LK: So when you talk about what Eataly has done downtown what's the wow factor that you're going to create here?
RL: Well listen the retail downstairs if you think about Madison Avenue in the ‘40s if you know it's pretty much you know men's suits and banks here we want to create something that is an amenity for the building and an amenity for the area and the design is really inspired by Alice Tully Hall sort of that rake and so you’ll see what it is you know we're talking to people right now but it's always very important to think about how the retail space in any of our properties enhances the experience upstairs so not just bringing in necessarily the highest rent payer but bringing in someone who is an amenity to the building and the tenants and to the community which is exactly what Eataly did at 200 and 5th,they weren't the highest rent payer when we did that deal but we thought the way it animated the community and created an amenity for people around the park as well as our tenants really made a lot of sense.
LK: Thank you so much for taking the time today to walk through share your story with us explain to us what's going on at 390 Madison this great project I think we're all going to be looking forward to seeing upon completion at least with walls and windows maybe we'll come back when it's a little bit warmer out but thank you so much for taking the time and sharing your story with us and telling us a little bit about the projects that you've been working on.
RL: Our pleasure thank you so much have a great day.