Development Due Diligence: A Wise Repositioning Choice


C3 was engaged by a large pension fund to assess options for repositioning a one-million-square-foot tower in NYC. Our client needed accurate information to determine what to do with the asset: sell it, release it as is, tear it down and rebuild, or undertake a full-scale renovation.


C3 performed a comprehensive technical analysis to fully assess the costs, risks, and timing of the various options. We then oversaw the entire development process for the chosen option—total renovation—replacing the building skin and adding seven floors to the structure.


By providing our client with a thorough and accurate understanding of the project costs and risk needed to make an informed decision, the end result was a building with the look and feel of a new, ground-up property for a fraction of the cost and time.

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