Park Ave. South office building ups its ‘cool factor’

Glassy facade, rooftop conference facility coming to 387 Park Avenue South

TRD New York /
Sep.September 18, 2012 03:00 PM

The office building at 387 Park Avenue South is about to join Midtown South’s new fleet of top tier spaces, according to the New York Observer. TF Cornerstone is adding an outdoor area and roof-top conference facility, as well as a new glass façade to the lower floors of the 12-story commercial building.

“You have really cool residential buildings and hotels in the area, I think what the neighborhood needs is an office building with the cool factor that fits in with what is going on there,” Matthew Leon, a Newmark Grubb Knight Frank leasing executive representing the property, told the Observer.

Currently 175,000 square feet of office space is available at the building with the option of renting out the entire 215,000-square-foot building; should a company opt for the entire building, TF Cornerstone would have to move its marketing team out of the building.

TF Cornerstone plans to seek rents approaching $60 per square foot – average Midtown South office rents were just $46.42 in August. [NYO]Christopher Cameron


Related Articles

arrow_forward_ios
Clockwise from top left: 190 Beach 69th Street, 47-20 Center Boulevard and 2505 Bruckner Boulevard

These were the top outer borough loans last month

These were the top outer borough loans last month
56 West 22nd Street and Michael Kasmierski (Credit: Google Maps)

Kaufman, AXA make $50M Midtown South buy

Kaufman, AXA make $50M Midtown South buy
The Real Deal interviews TF Cornerstone's Tom Elghanayan at REBNY's 124th annual banquet.

TF Cornerstone exec: How I got over Amazon dumping LIC

TF Cornerstone exec: How I got over Amazon dumping LIC
229 West 28th Street with Rodgers & Hammerstein (Credit: Getty Images, 229nyc, Rumi)

Lexin Capital puts Midtown South office building up for sale

Lexin Capital puts Midtown South office building up for sale
From left: Jim Whelan, David Schechtman, Tom Elghanayan, Helena Durst, Bill Rudin, and Adam Leitman Bailey

Real estate bigwigs sound off on politics at REBNY gala

Real estate bigwigs sound off on politics at REBNY gala
250 North 10th Street and TF Cornerstone president Frederick Elghanayan (Credit: Google Maps)

TF Cornerstone pays $140M for Williamsburg multifamily building

TF Cornerstone pays $140M for Williamsburg multifamily building
A rendering of 1 St. Marks Place

New boutique office building headed for East Village’s St. Mark’s

New boutique office building headed for East Village’s St. Mark’s
TF Cornerstone president Frederick Elghanayan and 595 Dean Street (Credit: CityRealty, Google Maps)

TF Cornerstone’s Prospect Heights two-tower project unveiled

TF Cornerstone’s Prospect Heights two-tower project unveiled
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...