Kato International Announces Comprehensive Redevelopment Initiative at Tower 49
The strategy introduces two full-floor amenity destinations with Industrious leading full-building experience operations and expanding its presence to create the world's largest single flexible office footprint
Kato International LLC today announced a comprehensive owner-led redevelopment initiative at Tower 49, introducing two new amenity floors and a building-wide tenant experience program designed to serve the entire Tower 49 community, including flexible office and traditional direct lease tenants. The initiative is led by an expanded partnership with Industrious, the world's best flexible workplace experience company, to run full-building experience operations. The best-in-class redevelopment team includes Bonetti Kozerski Architecture, MdeAS Architects, branding firm Mucca, and hospitality advisory firm Friend of Chef. The redevelopment is expected to be completed by Q4 2026.
"This next phase at Tower 49 reflects our long-term commitment to the building and all of our tenants," said Hisamitsu Hara, Senior Vice President & General Manager of Kato International LLC. "By deliberately reinvesting in the building and assembling a best-in-class team of partners, we are creating one of the most exceptional workplace experiences in the world."
In addition to its full-building experience operations, Industrious will expand its management agreement footprint to 291,600 square feet across 18 floors to serve as its Midtown flagship — creating the largest single flex office footprint in the world — driven by strong performance and sustained tenant demand at Tower 49.
"This is the most ambitious project we've ever taken on," said Gentry Long, President at Industrious. "Operating at this scale lets us fully invest in what a workplace can be — high-tech meeting spaces, new kinds of amenities, and on-site services that raise the bar for hospitality. This level of ambition only works with a partner like Kato. At Tower 49, we're showing what can happen when an owner and operator are aligned on fully reinvesting in a Midtown office experience."
Tower 49's transformation centers on two new, full-floor amenity destinations designed to elevate the day-to-day workplace experience and transform the building into one of the most desirable office footprints in Midtown Manhattan.
The third floor will introduce a full-service meetings and conference center featuring a large, subdividable assembly space for up to 120 people, flexible meeting rooms, and a café serving complimentary coffee and snacks throughout the workday.
The 24th floor sky lobby will be reimagined as a social lounge centered on a thoughtfully curated food and beverage offerings, hospitality, and wellness. Conceived as a place to work, recharge, and gather, the space will include executive showers, reset zones, an oversized parenting suite, and flexible event and programming spaces.
The experiences are being shaped in collaboration with leading architecture and design studio Bonetti Kozerski Architecture, architecture firm MdeAS Architects, branding firm Mucca, and hospitality advisory firm Friend of Chef, with culinary programming offering all-day coffee service and restaurant-style evening dining for client meetings and events.
"This expansion builds on the momentum already underway at Tower 49," said Robert Bakst, Asset Manager & Exclusive Agent of Kato International LLC. "By bringing together best-in-class partners and investing at scale, we are strengthening the building's position in Midtown and creating long-term value for tenants and ownership."
Tower 49 is a 45-story Class A office building offering more than 600,000 square feet of office and retail space located at 12 E. 49th St. between Madison and Fifth Avenues. Owned by Kato International since 1986 and designed by Skidmore, Owings & Merrill (SOM), the building has benefited from continued investment, including a renovation of its lobby and elevator experience designed by Moed de Armas and Shannon. Located just north of Grand Central Station and within walking distance of Rockefeller Center, Bryant Park, and Fifth Avenue, Tower 49 sits at the center of New York City's business and cultural corridor.
ABOUT INDUSTRIOUS
Industrious is the world's leading workplace experience company. We make workplaces welcoming, empowering, and delightful, and create enriching experiences for individuals and teams of all sizes. Our flexible offerings include dedicated offices, turnkey private suites, and on demand access to coworking and meeting spaces. Landlords and occupiers partner with Industrious to active whole buildings, streamline operations, and elevate amenities. Acquired by CBRE Group, Inc. (NYSE:CBRE) in 2025 and founded in 2012, Industrious now operates more than 250 locations across 85+ cities globally, including many of the world's most iconic properties. For more information, visit industriousoffice.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260320044452/en/