The Davis Companies and Tribeca Investment Group to invest $50m in 23-story building improvement plan

Manhattan, NY The Davis Companies (Davis) has launched a joint venture with New York-based Tribeca Investment Group (TIG) to execute a comprehensive capital investment and improvement plan at 630 Third Ave., a 261,445 s/f, 23-story office building in Midtown’s Grand Central submarket. In collaboration with the property owner ATCO, Davis and TIG will reposition the building through the investment of more than $50 million to stabilize the property and complete a full lobby renovation, the construction of a tenant amenity and conferencing space, and delivery of move-in ready office suites for prospective tenants.

“The Grand Central market continues to see strong leasing activity, and our investment will position this asset to capitalize on this growing tenant demand,” said Andrew Kurd, managing director of investments at Davis. “This is the latest milestone for Davis’ growing portfolio in the New York region, and we are confident that our planned improvements at 630 Third Ave. will return tremendous value for our investors.”

“630 Third Ave. features an impressive floor plate with ample amounts of natural light and space in a bustling area of Midtown Manhattan,” said Brendan Richards, vice president of investment at The Davis Companies. “The building’s proximity to Grand Central Station makes it a premier location for commuting employees.”

Davis and TIG are working with architecture firm Studios to enhance the tenant experience throughout the 23-story building, through a series of renovations. The plans include a modern renovation of the open-concept lobby, the buildout of move-in ready office suites, and the construction of a 19^th floor tenant amenity and conferencing center with more than 3,000 s/f of landscaped outdoor terrace space.

“We are excited to partner with the Davis team and complete the repositioning of such a well-located office building in the heart of Midtown Manhattan” said Elliott Ingerman, principal at Tribeca Investment Group. “The combination of attractively sized tenant spaces and the lobby and amenity upgrades will make this a premier offering in a competitive marketplace that looks for these types of enhancements.”

Upgrades are set to begin in Q1 2026 with anticipated completion slated for Q3 2026. Paul Amrich and Neil King from CBRE have been engaged as leasing representatives for the project. Albert Sultan from KSR advised on the transaction.

“630 Third Ave. is a great example of a boutique asset in close proximity to a transportation hub like Grand Central that will be naturally taken into its next chapter of occupancy through an amazing transformation executed by a world-class ownership team” said Paul Amrich of CBRE.

Davis has experienced substantial momentum in the New York market in 2025, bolstered by the hires of Andrew Kurd, the new managing director of investments leading the firm’s New York City office, and Alexander Zabik as managing director and head of credit investments. 

Davis’ New York portfolio has grown significantly in recent years and includes investments in assets such as 55 Willoughby and 540 Atlantic Ave. in Brooklyn, as well as the ground up development of a Mini Storage facility at 155-165 W. 29^th St and a luxury residential building at 1975 Madison in Harlem, which began leasing in July 2025.