Park Tower Group | The Real Deal New York

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Park Tower Group

499 Park Avenue #27
New York, NY 10022
(212) 355-7570
Website

Park Tower Group is a family-owned real estate developer and manager that also offers property leasing and design consulting services. It was founded in the 1980s after owner George Klein made his first deal selling a small Park Avenue site into an office building. Klein, who has both deep connections in the Republican Party and years of experience in public-private partnerships (including working to develop the Museum of Jewish Heritage), has used his experience to make some large deals in recent years. Although some of those plans have not panned out, such as a bid to develop office space above the Port Authority Bus Terminal in 1998, Park Tower has landed a huge deal in Brooklyn, collaborating with Brookfield Property Partners to build two high-rise rental buildings in a planned community in the up-and-coming Greenpoint neighborhood. The so-called Greenpoint Landing site is expected to be completed in 2019 and will also reportedly include 1,400 units of affordable housing in addition to the 5,550 market-rate apartments. The plan began in 2005 when the site was rezoned, and Park Tower spent years planning the development.


05/03/17
...refinancing! - $160 million Northwestern Mutual Life Insurance refinanced Park Tower Group’s 535 Madison Avenue office building with a $160 million loan. The financing consolidates a new...

03/02/17
...Madison Avenue (Credit: 535mad) Park Tower Group locked down $160 million to refinance its office building on Madison Avenue in Midtown's Plaza...

03/01/17
...at City Hall. Extell Development's Gary Barnett and Park Tower Group...

02/16/17
...company will relocate its media-sales office from the Park Tower Group’s 535 Madison to Paramount Group’s 1633 Broadway, where it has a lease out for...

11/21/16
...of which will be affordable, to the area. Park Tower Group and L + M Development are in the process of developing three of the buildings...

07/06/16
...sits just south of Greenpoint Landing, where the Park Tower Group plans to construct 10 buildings on a 22-acre campus with 5,500 new apartments, 1,400 of which will...

04/19/16
...the right to build two new structures at Park Tower Group...

02/10/16
...work is already under way at Greenpoint Landing, Park Tower Group and L&M Development’s mixed-use project that will bring 5,000 apartments to the...

02/01/16
...to-date. John C. Klein, of Greenpoint Landing co-developer Park Tower Group, also donated $50,000 in the second half of 2015, and has dished out $175,000 to-date. Eastdil Secured...

01/02/16
...designing all three buildings, and the developers are Park Tower Group and L+M Development. - TRD...

12/02/15
...the 22-acre Greenpoint Landing development, on Oct. 19 from Park Tower Group. One of the two sites sold for $59.8 million, and the other for $46.5 million, according...

10/27/15
...the Greenpoint Landing residential development in Brooklyn from Park Tower Group and will co-develop two high-rise rental buildings at the project. Behind the story: Brookfield...

07/07/15
...s new agreement with L+M Development and Park Tower Group to halve the affordable housing subsidy on the Greenpoint Landing project included no future...

06/26/15
...Greenpoint (credit: Handel Architects) L+M Development and Park Tower Group announced that they have renegotiated with the de Blasio administration to reduce their affordable...

01/14/15
...entire Greenpoint Landing project in Brooklyn 37 Commercial Street Park Tower Group is looking to build a 377,864-square-foot building in Greenpoint, as part of the massive...

12/24/14
...Greenpoint Landing Associates, an affiliate of the Manhattan-based Park Tower Group, filed for building permits in March to construct two affordable residential apartment properties in...

08/20/14
...non-core areas. Two notable examples of the trend: Park Tower Group’s Greenpoint Landing, a 3,200-unit rental project and Read Property’s plans for a...

08/04/14
...in Greenpoint Greenpoint Landing Associates, an affiliate of Park Tower Group and L+M Development Partners, unveiled a full-building rendering for part of the megadevelopment...

05/21/14
...Equity, and near Greenpoint Landing, proposed by the Park Tower Group. Dupont Street Developers inked a contract with Joseph Folkman, president of 49 Dupont Realty Corp...

05/04/14
...forward," said City Councilman Stephen Levin, D-Brooklyn. The Park Tower Group, which is developing a 5,500-unit Greenpoint Landing project, contributed $5.5 million to the Newtown Barge...

03/07/14
...Greenpoint Landing Associates, an affiliate of the Manhattan-based Park Tower Group, has filed building permits for two affordable residential apartments in Brooklyn. The two affordable...

11/06/13
...Rendering of 77 Commercial Street Park Tower Group and the Chetrit Group's controversial residential projects along the Greenpoint waterfront are up for...

09/11/13
...Joseph Chetrit’s project at 77 Commercial Street and Park Tower Group...

05/06/13
...the northern tip of Greenpoint, Crain’s reported. Park Tower Group will unveil details tonight at a public meeting and aims to break ground on...

11/02/11
...Park Tower Group, one of the first New York developers to see potential in the Brooklyn waterfront...
  • Event Financing
  • Address 535 Madison Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 444,293
  • Price $ 160,000,000
  • Publication Date 04/01/2017
  • Event Date 02/15/2017
  • Party 1 Park Tower Group
  • Party 2 Northwestern Mutual Life Insurance
notes
The company refinanced its debt with a $160 million loan.
  • Event Retail Leasing
  • Address 535 Madison Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 4,100
  • Publication Date 10/01/2011
  • Event Date 08/22/2011
  • Party 1 Park Tower Group
  • Party 2 IWC Shaffhausen
notes
The Swiss watchmaker signed a 10-year lease for multilevel space.
  • Event Office Leasing
  • Address 535 Madison Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 6,222
notes
The materials and machinery producer signed a 10-year lease renewal on the fifth floor.
  • Event Office Leasing
  • Address 535 Madison Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 28,750
notes
The investment company signed a 10-year lease renewal and expansion for the entire ninth and 10th floors.
  • Event Retail Leasing
  • Address 535 Madison Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 1,133
  • Publication Date 12/01/2010
  • Event Date 10/22/2010
  • Party 1 Park Tower Group
  • Party 1 Brokerage In-house
  • Party 2 Bauman Rare Books
  • Party 2 Brokerage CBRE
  • Party 2 Broker Andrew Goldberg
notes
The rare books retailer signed a lease renewal.
  • Event Retail Leasing
  • Address 535 Madison Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 975
  • Publication Date 12/01/2010
  • Event Date 10/22/2010
  • Party 1 Park Tower Group
  • Party 1 Brokerage In-house
  • Party 2 Links of London
  • Party 2 Brokerage CBRE
  • Party 2 Broker Annette Healey
notes
The jewelry and accessories retailer renewed its lease.
  • Event Retail Leasing
  • Address 535 Madison Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 1,610
  • Publication Date 12/01/2010
  • Event Date 10/22/2010
  • Party 1 Park Tower Group
  • Party 1 Brokerage In-house
  • Party 2 Bric's
notes
The luggage retailer signed a lease renewal.
  • Event Office Leasing
  • Address 535 Madison Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 11,889
notes
The financial services firm inked a 12-year expansion lease on the third floor.
  • Event Office Leasing
  • Address 535 Madison Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 4,113
notes
The financial planning firm signed a 1.5-year lease renewal on the 33rd floor.
  • Event Office Leasing
  • Address 535 Madison Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 13,819
notes
Investment bank renews entire 19th floor
  • Event Office Leasing
  • Address 535 Madison Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 14,371
notes
Private equity firm renews entire 28th floor
  • Event Office Leasing
  • Address 535 Madison Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 6,207
  • Publication Date 09/01/2005
  • Event Date 07/23/2005
  • Party 1 Park Tower Group
  • Party 1 Brokerage CBRE
  • Party 1 Broker Brian Gell, Stephen Eynon
  • Party 2 ABG Sundal Collier
  • Party 2 Brokerage Williamson Picket Gross
  • Party 2 Broker Will Carr
notes
Investment bank renews part of 17th floor
Manhattan, 10129
7E HOLDINGS LLC
...
Brooklyn, 11222
Park Tower Group, F2 OWNER, LLC
...
Brooklyn, 11222
L+M Development Partners, GREENPOINT LANDING ASSOC LLC
...
Brooklyn, 11222
Park Tower Group, BOP GREENPOINT F LLC
...
Brooklyn, 11222
Park Tower Group, BOP GREENPOINT G LLC
...
Brooklyn, 11222
Park Tower Group, F2 OWNER, LLC
...
Brooklyn, 11222
L+M Development Partners, GREENPOINT LANDING ASSOC LLC
...
Brooklyn, 11222
Park Tower Group, BOP GREENPOINT F LLC
...
Brooklyn, 11222
Park Tower Group, BOP GREENPOINT G LLC
...
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