By Dave Matlow
The 39-year-old office building at 500 Post Road East, across from Westport Fire Headquarters, is getting a green makeover.
Timon Malloy, representing the owner of 500 Post Road East, is shown on the third floor of the building, which he says will be “totally green.” (CLICK TO ENLARGE) Dave Matlow for WestportNow.com
The building, former home of Terex Corp., changed ownership in March 2012 for $9 million. Timon Malloy, president of Stamford-based Fred F. French Investing LLC , the new owner, said innovation of the 37,000-square foot building is being completed in two phases with final completion projected for 2017.
The former Westport resident said the initial phase, the 15,000-square foot third floor, is well underway. Then the second phase will begin—renovation of the entrance level and second floor.
“The building will be totally green, a shift from the original structure, which lacked proper insulation and was mainly electric powered,” said Malloy, son of the late Westport artist Susan Malloy.
“We’re installing foot-thick roof insulation, solar power, state-of-the-art HVAC, a fresh air energy recovery system, and many other green and efficient features, he said.
“We’ll have a flexible design with only a few columns with fiberglass windows surrounding the building.”
Malloy said while the third floor is being renovated, the building continues to house four tenants on the lobby and second floors, representing about 40 percent of all the building’s space.
The 39-year-old, 37,000-square foot building was former home to Terex Corp. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com
When renovation is completed, he anticipates occupancy of four to six tenants.
Malloy said he is a fourth generation member of a real estate family, preceded by his great-grandfather, Jacob Rabinowitz, and grandfather, Aaron Rabinowitz, who founded Spear Realty. It was acquired by New York real estate magnate Harry Helmsley to form Helmsley-Spear.
Aaron Rabinowitz, who was president of the Fred French Company in New York, and his wife, Clara, resided in Westport at 167 Cross Highway, from 1937 to 1973, a home known as “Robin’s Nest.” The house was demolished in February 2008 (see WestportNow , Feb. 26, 2008)
