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New York

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

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

A rendering of the planned roof at 387 Park Avenue South
A rendering of the planned roof at 387 Park Avenue South

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.

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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

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Midtown SouthTf Cornerstone