View Smart Windows Transform 100 Pearl Street Overbuild in the Financial District, Lower Manhattan

Rhea-AI Summary

View, Inc. (Nasdaq: VIEW) announced its smart windows will be installed at 100 Pearl Street, a Class-A office tower in Lower Manhattan. The renovation aims to create a premier office asset with all-glass penthouses, enhancing natural light while minimizing heat and glare. Smart windows improve employee well-being, reducing eyestrain and headaches by over 50%. Investment firm Fred Alger Management will lease penthouses, marking its return to downtown Manhattan. View's technology positions it as a leader in transforming buildings into healthier, energy-efficient spaces.

Positive

• Installation of View's smart windows at a prestigious new office location is a significant business development.
• Smart windows reduce eyestrain and headaches by over 50%, showcasing health benefits that enhance tenant appeal.
• The project marks Fred Alger Management's return to downtown Manhattan, indicating strong demand for premium office space.

Negative

• None.

NEW YORK and MILPITAS, Calif., July 12, 2021 (GLOBE NEWSWIRE) -- View, Inc. (Nasdaq: VIEW) (“View”), the leader in smart building platforms and smart glass, today announced its smart windows will be installed at the new overbuild at 100 Pearl Street, a Class-A office tower in Lower Manhattan currently undergoing a top-to-bottom transformation by GFP Real Estate and Northwind Group.

100 Pearl Street, which encompasses a full city block on Hanover Square, is being renovated into a premier downtown New York City office asset with rare all-glass penthouses offering uninterrupted 360-degree views across the East River toward Brooklyn and south over New York Harbor to the Statue of Liberty. The design of the double-height, 24-foot all-glass penthouses are made possible by View Smart Windows, which use artificial intelligence to tint automatically, optimizing natural light and views of the outdoors while minimizing heat and glare. View Smart Windows are designed to make buildings healthier, smarter, and more energy efficient, a critical differentiator in asset renovations which ultimately boosts the bottom line for both landlords and their tenants.

As part of the 100 Pearl Street transformation, investment firm Fred Alger Management, LLC, is leasing out the 28th and 29th Floor penthouses. The move in will mark Fred Alger Management’s return to downtown Manhattan after nearly 20 years.

“Our vision was to transform 100 Pearl Street into a statement piece on the busy Manhattan cityscape,” said Brian Steinwurtzel, co-CEO of GFP Real Estate. “Our tenants want exclusive amenities. They want their offices to adapt to their needs and enhance the mental and physical well-being of their employees. View’s smart window technology helps us accomplish that goal.”

Smart glass offers significant health advantages by reducing the incidence of eyestrain and headaches by over 50%. In a recent study, employees working next to View Smart Windows improved their sleep by 37 minutes per night and cognitive function by 42 percent. These findings are particularly important today as users are focused on health, wellness, and re-entering the workplace with confidence.

“Companies around the world are reinventing buildings to be experiential, sustainable, healthy, and smart,” said Dr. Rao Mulpuri, Chairman and CEO of View. “Renovations like those taking place at 100 Pearl represent a tremendous opportunity to transform the built environment to optimize the health and well-being of occupants. We’re thrilled to once again partner with a developer as forward-thinking as GFP Real Estate.”

View is designed into 75 million square feet of buildings including offices, hospitals, airports, educational facilities, hotels and multi-family residences. 100 Pearl Street is the first Downtown Manhattan property to feature smart windows from View. Previously, GFP installed View at its N6 Lofts property, a former warehouse building that was reimagined into a high-end creative office space located in Williamsburg, Brooklyn.

About View
View is the leader in smart building platforms and smart windows that transform buildings to improve human health and experience, reduce energy consumption and carbon emissions, and generate additional revenue for building owners. View Smart Windows use artificial intelligence to automatically tint in response to the sun, eliminating the need for blinds and increasing access to natural light. Every View installation includes a cloud-connected smart building platform that can easily be extended to improve indoor cellular coverage, enhance building security and reimagine the occupant experience. View is installed and designed into 75 million square feet of buildings including offices, hospitals, airports, educational facilities, hotels and multi-family residences. For more information, please visit: www.view.com. 

About GFP Real Estate
Committed to building a better New York since 1952, GFP Real Estate is a vertically integrated owner, operator, property manager and developer of commercial real estate in the New York TriState Region. With over 55 buildings and more than 12.8 million square feet under Ownership, GFP’s portfolio includes some of the City’s most iconic real estate assets, including the Flatiron Building (175 Fifth Avenue), The Film Center Building. (630 Ninth Avenue), 515 Madison Avenue, 1560 Broadway and 40 Worth Street. In addition to managing and leasing its own properties, GFP also provides management and leasing services to third-party building owners, representing an additional 20 buildings that cover more than 4 million square feet. The combined GFP portfolio of both owned and managed properties totals 75 buildings and approximately 16 million square feet, cementing the firm’s reputation as one of New York City’s premiere real estate owners and operators.

Helmed by three generations of the Gural family over six decades, the company is steeped in the tradition of doing business the family way. GFP Real Estate delivers unparalleled service to their over 2,500 tenants, one-third of which are not-for-profits. The company employs more than 600 full-time professionals to oversee every element of real estate management. Their dedication results in a remarkable 90% tenant renewal rate and 99% occupancy rate.

About Northwind Group
Northwind Group is a real estate private equity firm based in Manhattan that invests in the following three main strategies: 1. Value add commercial and residential properties in NYC 2. Acquires develops and operates senior-living & healthcare properties across the Midwest and East Coast 3. Provides first-priority senior-secured loans, mezzanine financing and preferred equity investments secured by real estate properties located in the Greater New York area. Since inception, Northwind has been involved in the acquisition, development, management, and financing of properties totaling over $2 billion in value.

Contacts:

For Investors:
Samuel Meehan
IR@View.com
408-493-1358

For Media:
Tom Nolan, Great Ink
tom@greatink.com
908-392-0333

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bbdf78d2-3ec8-47fd-a692-e904887fa37e

FAQ

What is the significance of View, Inc.'s smart windows installation at 100 Pearl Street?

The installation signifies a major business development for View, showcasing their smart building technology in a premier office tower, aimed at enhancing tenant experience.

How do View's smart windows impact employee health?

View's smart windows have been shown to reduce eyestrain and headaches by over 50%, promoting better health and productivity among employees.

What company is leasing penthouses at the 100 Pearl Street renovation?

Fred Alger Management is leasing the penthouses at 100 Pearl Street, marking its return to downtown Manhattan after nearly 20 years.

What benefits do View's smart windows provide for building owners?

View's smart windows enhance natural light, improve energy efficiency, and offer health benefits, making properties more attractive to tenants and potentially increasing revenue.