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1 Park Avenue

1 Park Avenue
New York, NY 10016
Office, Conversion
1 Park Avenue
The 20-story office tower that occupies the block front between 32nd Street and 33rd Street was built in 1925 and offers approximately 1 million square feet of space. New York Universitys Langone Medical Center, the flagship tenant, renewed its lease for 30 years in 2011, expanding to 420,000 square feet. That renewal came shortly after Vornado Realty Trust injected $180 million in March that year, in a recapitalization deal that valued the property at $427 million and saved it from foreclosure. Norman Sturners Murray Hill Properties and a unit of Cerberus Capital Management retained the remaining 5 percent. Vornado was seeking a buyer for the building for $650 million, it was reported in mid-2014. -NE
  • Address 1 Park Avenue
  • neighborhood Kips Bay
  • borough Manhattan
  • owner/developer Vornado Realty Trust
  • floors 18
  • Year Built 1926
  • residential units 0
  • square feet 922,184
  • block and lot 1-00888-0001
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  • Event Financing
  • Address 281 Park Avenue South
  • Neighborhood Gramercy Park
  • Borough Manhattan
  • Square feet 32,000
notes
A $40 million loan was arranged for the church. 6-story
  • Event Financing
  • Address 1001 Park Avenue
  • Neighborhood Upper East Side
  • Borough Manhattan
  • Price $ 1,000,000
  • Publication Date 09/01/2014
  • Event Date 07/23/2014
  • Party 1 1001 Tenants
  • Party 2 NCB
notes
A $1 million third mortgage was arranged for the 24-unit apartment building.
  • Event Office Leasing
  • Address 381 Park Avenue South
  • Neighborhood Flatiron
  • Borough Manhattan
  • Square feet 913
notes
The tattoo-removal-services provider signed a four-year lease for part of the seventh floor.
  • Event Office Leasing
  • Address 381 Park Avenue South
  • Neighborhood Flatiron
  • Borough Manhattan
  • Square feet 913
notes
The tattoo-removal-services provider signed a four-year lease for part of the seventh floor.
  • Event Office Leasing
  • Address 401 Park Avenue South
  • Neighborhood Flatiron
  • Borough Manhattan
  • Square feet 21,100
  • Publication Date 01/01/2014
  • Event Date 11/22/2013
  • Party 1 Meringoff Properties
  • Party 1 Brokerage Meringoff Properties
  • Party 1 Broker Mark Stein, Jason Vacker
  • Party 2 xAd
  • Party 2 Brokerage Cushman & Wakefield
  • Party 2 Broker Jon Mayeske
notes
The mobile advertiser signed a 10-year lease for the entire 11th floor.
  • Event Office Leasing
  • Address 401 Park Avenue South
  • Neighborhood Flatiron
  • Borough Manhattan
  • Square feet 21,100
  • Publication Date 01/01/2014
  • Event Date 11/22/2013
  • Party 1 Meringoff Properties
  • Party 1 Brokerage Meringoff Properties
  • Party 1 Broker Mark Stein, Jason Vacker
  • Party 2 xAd
  • Party 2 Brokerage Cushman & Wakefield
  • Party 2 Broker Jon Mayeske
notes
The mobile advertiser signed a 10-year lease for the entire 11th floor.
  • Event Office Leasing
  • Address 101 Park Avenue
  • Neighborhood Murray Hill
  • Borough Manhattan
  • Square feet 26,400
notes
The investment management firm signed a new lease for the entire 41st floor. The tenant will take occupancy in December 2014 after the space is built out.
  • Event Sales
  • Address 1661 Park Avenue
  • Neighborhood East Harlem
  • Borough Manhattan
  • Price $ 4,800,000
  • Publication Date 11/01/2013
  • Event Date 09/22/2013
  • Party 1 Brokerage Ariel Property Advisors
  • Party 1 Broker Shimon Shkury, Victor Sozio, Michael Tortorici, Jesse Deutch, Marko Agbaba
notes
The property sold for $4.8 million.
  • Event Office Leasing
  • Address 101 Park Avenue
  • Neighborhood Murray Hill
  • Borough Manhattan
  • Square feet 39,000
notes
The investment bank signed a long-term lease renewal on the 23rd and 24th floors.
  • Event Office Leasing
  • Address 101 Park Avenue
  • Neighborhood Murray Hill
  • Borough Manhattan
  • Square feet 20,000
  • Publication Date 09/01/2013
  • Event Date 07/23/2013
  • Party 1 Kalikow Properties
  • Party 1 Brokerage Cushman & Wakefield
  • Party 1 Broker John Cefaly, Gus Field, Clark Finney
  • Party 2 Convene
  • Party 2 Brokerage CBRE
  • Party 2 Broker Rocco Laginestra, Michael Whellen, Jared Freede
notes
The operator of conference center facilities signed a new lease.
  • Event Office Leasing
  • Address 101 Park Avenue
  • Neighborhood Murray Hill
  • Borough Manhattan
  • Square feet 79,200
notes
The hedge fund signed a long-term lease renewal on the entire 33rd, 47th and 48th floors for its headquarters.
  • Event Office Leasing
  • Address 401 Park Avenue South
  • Neighborhood Flatiron
  • Borough Manhattan
  • Square feet 42,200
notes
The technology company signed a 10-year lease renewal on the 12th and fourth floors. The tenant converted a sublease to a direct lease on the fourth floor, and extended its existing, direct lease with the landlord on the 12th floor.
  • Event Office Leasing
  • Address 401 Park Avenue South
  • Neighborhood Flatiron
  • Borough Manhattan
  • Square feet 42,200
notes
The technology company signed a 10-year lease renewal on the 12th and fourth floors. The tenant converted a sublease to a direct lease on the fourth floor, and extended its existing, direct lease with the landlord on the 12th floor.
  • Event Office Leasing
  • Address 281 Park Avenue South
  • Neighborhood Gramercy Park
  • Borough Manhattan
  • Square feet 3,510
notes
The nonprofit signed a lease.
  • Event Office Leasing
  • Address 281 Park Avenue South
  • Neighborhood Gramercy Park
  • Borough Manhattan
  • Square feet 4,800
notes
The nonprofit signed a new lease.
  • Event Office Leasing
  • Address 281 Park Avenue South
  • Neighborhood Gramercy Park
  • Borough Manhattan
  • Square feet 1,890
notes
The nonprofit signed a lease.
  • Event Office Leasing
  • Address 281 Park Avenue South
  • Neighborhood Gramercy Park
  • Borough Manhattan
  • Square feet 650
notes
The nonprofit signed a lease.
  • Event Office Leasing
  • Address 281 Park Avenue South
  • Neighborhood Gramercy Park
  • Borough Manhattan
  • Square feet 4,800
notes
The nonprofit signed a lease for the entire sixth floor.
  • Event Office Leasing
  • Address 461 Park Avenue South
  • Neighborhood Kips Bay
  • Borough Manhattan
  • Square feet 4,775
  • Price per foot $ 40.00
  • Publication Date 03/01/2012
  • Event Date 01/21/2012
  • Party 1 Rosehill Property Associates
  • Party 1 Brokerage Murray Hill Properties
  • Party 1 Broker Randy Sherman
  • Party 2 Bunk1/Ackercamps.com
notes
The Internet firm signed a six-year lease.
  • Event Office Leasing
  • Address 461 Park Avenue South
  • Neighborhood Kips Bay
  • Borough Manhattan
  • Square feet 2,825
  • Price per foot $ 40.00
  • Publication Date 03/01/2012
  • Event Date 01/21/2012
  • Party 1 Rosehill Property Associates
  • Party 1 Brokerage Murray Hill Properties
  • Party 1 Broker Randy Sherman
  • Party 2 Park Urologic
notes
The medical office signed a four-year lease.
  • Event Office Leasing
  • Address 101 Park Avenue
  • Neighborhood Murray Hill
  • Borough Manhattan
  • Square feet 200,000
notes
The law firm signed a lease renewal, the New York Post reported.
  • Event Office Leasing
  • Address 461 Park Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 4,775
  • Price per foot $ 38.00
notes
The financial firm signed a six-year sublease.
  • Event Office Leasing
  • Address 101 Park Avenue
  • Neighborhood Murray Hill
  • Borough Manhattan
  • Square feet 13,200
  • Publication Date 10/01/2011
  • Event Date 08/22/2011
  • Party 2 Tata Consultancy Services
  • Party 2 Brokerage CBRE
  • Party 2 Broker Roshan Shah
notes
The IT services and consulting firm signed a 10-year expansion and lease renewal.
  • Event Office Leasing
  • Address 251 Park Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 30,000
  • Publication Date 07/01/2011
  • Event Date 05/22/2011
  • Party 1 F.M. Ring Associates
  • Party 1 Brokerage In-house
  • Party 2 Maharam
  • Party 2 Brokerage Newmark Grubb Knight Frank
  • Party 2 Broker Billy Mendelson, Romel Canete
notes
The interior textiles company signed a 10-year lease renewal and expansion onto an additional floor.
  • Event Retail Leasing
  • Address 401 Park Avenue South
  • Neighborhood Flatiron
  • Borough Manhattan
  • Square feet 10,645
  • Publication Date 06/01/2011
  • Event Date 04/22/2011
  • Party 1 Meringoff Properties
  • Party 1 Brokerage In-house
  • Party 2 Duane Reade
  • Party 2 Brokerage Winick Realty Group
  • Party 2 Broker Ann La Centra
notes
The drugstore signed a lease renewal.
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