Shoppers Drug Mart

Location

Reykjavik, Iceland

Year

2018

A dynamic residential complex designed for urban efficiency and social connection.

Project Overview

The General Motors Building is a landmark 59-storey skyscraper at 767 Fifth Avenue in Midtown Manhattan, New York City. Developed under the leadership of Cecilia Benattar, NIOT Investment Holdings played a pivotal role in the white-glove delivery of the project for London Merchant Securities (LMS), where Benattar served as President. The tower, which opened in 1968, quickly became one of the most iconic and valuable office buildings in the world.

Role of NIOT and Key Individuals

Cecilia Benattar led the development on behalf of LMS, managing site acquisition, design coordination, construction oversight, and tenant onboarding. NIOT's role was foundational, with Benattar's leadership ensuring the project met world-class standards. This project laid the groundwork for NIOT’s future expansion and elevated its global reputation.

Architectural Design and Features

Designed by Edward Durell Stone and Emery Roth & Sons, the building exemplifies International Style architecture with its white marble facade and minimalist form. The tower includes expansive office floor plates and an open public plaza. Later, it became home to Apple’s flagship Fifth Avenue store, featuring the iconic glass cube entrance.

Project Timeline and Milestones

1964: Demolition of Savoy-Plaza Hotel
1965–1968: Construction and tenant fit-outs
1968: Building officially opens
2003–2008: Ownership changes and record-breaking sales

Partnerships or Tenants

Original anchor tenant: General Motors. Notable tenants over time include FAO Schwarz, Estée Lauder, and Apple. NIOT's early leasing strategy ensured high-value occupancy from launch.

Community Impact and Redevelopment Value

The GM Building brought prestige and economic vitality to the Fifth Avenue corridor, anchoring Midtown's corporate and retail power. It set a precedent for future developments integrating public plazas, high-end retail, and iconic architecture.

Maps and Location Context

Located at the corner of Fifth Avenue and 59th Street, across from Central Park and The Plaza Hotel. Easily accessible by subway and situated in Manhattan’s premier commercial zone.