View Full Version : 125 Park Avenue to be renovated

07-18-2005, 03:22 PM
"Precor drawing on 'Cheers' Pub, Manhattan Glam to inspire renovation of OKC Park Avenue Building

Posted: Thursday, July 14, 2005
by Heidi R. Centrella

Not everyone knows its name, and Park Avenue, Manhattan, it ain't - yet.

However, those involved with the renovation of 125 Park Avenue in Oklahoma City are hoping that soon will change, drawing on the tony addresses along New York City's Park Avenue and the basement pub prominently featured in the long-running sitcom "Cheers" as their inspiration.

The property's owner, Precor Ruffin Properties LLC, is renovating the five-story building for sale as office condominium space - the city's first, according to Precor Ruffin's Web site,

While representatives with Precor Ruffin were unavailable for comment today, the company's Web site indicates it is intending to sell each of the five floors at 125 Park Ave. to businesses and utilize the basement for an eatery reminiscent of the "Cheers" pub.

The sales price for the floors is as yet unknown. But according to the county assessor's Web site, the building, constructed in 1949, in its current state has a market value of $327,581. About three years ago, the property was gutted and it has sat empty since, according to Mark Gifford with Maccini Construction Company, the general contractor for the renovation.

Prior to 2002, 125 Park Avenue was occupied by law office tenants and it is nestled amid the Greater Oklahoma City Chamber, IBC Bank and B.C. Clark Jewelers. As well, it's less than a block west of perhaps Park Avenue's most famed property, the Skirvin Hotel.

Heavy construction work on the property just recently began, OKCBusiness has learned, but Midwest Wrecking Company already is estimated to wrap up demolition work next week.

Gifford said core construction on the property is expected to be complete within the next three months and will include plumbing, lighting, lobby work and construction of an independent, outdoor stairwell for the basement. When core construction wraps, he said, owner-occupants will be able to design their respective 5,000-square-feet office condo space.

The five office-condo spaces and the basement already are being marketed by Precor Ruffin."