2 Park Avenue | TRD Research
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2 Park Avenue

2 Park Avenue
New York, NY 10016
Office, Leasing/Rental
  • Address 2 Park Avenue
  • neighborhood Garment District
  • borough Manhattan
  • owner entity PPF OFF TWO PARK AVE
  • floors 28
  • Year Built 1927
  • commercial units 67
  • total units 67
  • square feet 852,731
  • block and lot 1-00862-0029
  • BIN 1017019
  • Event Office Leasing
  • Address 2 Park Avenue
  • Neighborhood Garment District
  • Borough Manhattan
  • Square feet 7,329
  • Publication Date 04/09/2018
  • Event Date 04/03/2018
  • Party 1 PPF Off 2 Park Avenue Owner
  • Party 2 END Fund
  • Party 2 Brokerage Cushman & Wakefield
  • Party 2 Broker Tara Stacom, Mitch Arkin, David E. Green, Michael Tranfalia
notes
The philanthrophic initiative inked a lease for the 18th floor of the Garment District building.
  • Event Office Leasing
  • Address 2 Park Avenue
  • Neighborhood Garment District
  • Borough Manhattan
  • Square feet 8,881
  • Publication Date 04/09/2018
  • Event Date 04/03/2018
  • Party 1 Morgan Stanley Real Estate Fund
  • Party 2 Conductor
  • Party 2 Brokerage Cushman & Wakefield
  • Party 2 Broker Tara Stacom, Mitch Arkin, David E. Green, Michael Tranfalia
notes
The subtenant expanded its lease at the Garment District building.
  • Event Office Leasing
  • Address 2 Park Avenue
  • Neighborhood Midtown East
  • Borough Manhattan
  • Square feet 49,000
  • Publication Date 08/01/2016
  • Event Date 06/17/2016
  • Party 1 Gilt Groupe
  • Party 2 The Trade Desk
notes
The advertising technology firm signed a sublease.
  • Event Retail Leasing
  • Address 40 East 33rd Street
  • Neighborhood Garment District
  • Borough Manhattan
  • Square feet 1,924
notes
The tenant signed a lease.
  • Event Retail Leasing
  • Address 2 Park Avenue
  • Neighborhood Midtown
  • Borough Manhattan
  • Square feet 2,150
  • Publication Date 12/01/2014
  • Event Date 10/17/2014
  • Party 1 Brokerage Cushman & Wakefield
  • Party 1 Broker Alisa Amsterdam
  • Party 2 Irmat Pharmacy
  • Party 2 Brokerage EVO Real Estate Group
  • Party 2 Broker Arnold Gamberg
notes
The independently owned pharmacy signed a 16-year renewal lease.
  • Event Office Leasing
  • Address 2 Park Avenue
  • Neighborhood Garment District
  • Borough Manhattan
  • Square feet 27,000
notes
The book marketer signed a seven-year sublease on the 10th floor.
  • Event Office Leasing
  • Building Name Two Park Avenue
  • Address 2 Park Avenue
  • Neighborhood Garment District
  • Borough Manhattan
  • Square feet 86,000
notes
The fashion company signed a new, long-term lease for its corporate headquarters. The tenant will relocate from a smaller space at 48 West 25th Street in spring 2012.
  • Event Office Leasing
  • Address 2 Park Avenue
  • Neighborhood Garment District
  • Borough Manhattan
  • Square feet 9,751
notes
The nonprofit, integrated health system signed a new lease.
  • Event Office Leasing
  • Address 2 Park Avenue
  • Neighborhood Garment District
  • Borough Manhattan
  • Square feet 100,000
notes
The nonprofit signed a lease. The company is relocating from a smaller, 66,000-square-foot space nearby.
  • Event Office Leasing
  • Address 2 Park Avenue
  • Neighborhood Garment District
  • Borough Manhattan
  • Square feet 100,000
notes
The online fashion retailer signed a direct lease. The tenant had been subleasing a smaller space in the building.
  • Event Office Leasing
  • Address 2 Park Avenue
  • Neighborhood Garment District
  • Borough Manhattan
  • Square feet 46,198
notes
The British airline signed a 10-year lease for the entire 11th floor.
  • Event Office Leasing
  • Address 2 Park Avenue
  • Neighborhood Garment District
  • Borough Manhattan
  • Square feet 100,750
  • Price per foot $ 50.00
  • Publication Date 09/01/2009
  • Event Date 07/23/2009
  • Party 1 L&L Holding
  • Party 1 Brokerage In-house
  • Party 2 Bonnier
  • Party 2 Brokerage CBRE
  • Party 2 Broker Jason Gorman, Paul Walker
notes
The publishing company converted its space to a direct lease after having been a longtime subtenant at the building.
  • Event Office Leasing
  • Address 2 Park Avenue
  • Neighborhood Garment District
  • Borough Manhattan
  • Square feet 72,000
  • Price per foot $ 59.00
  • Publication Date 12/01/2007
  • Event Date 10/22/2007
  • Party 1 L&L Holding
  • Party 2 Herrick Feinstein
  • Party 2 Brokerage Newmark Grubb Knight Frank
  • Party 2 Broker Barry Gosin
notes
The law firm, a tenant in the building since 1957, signed a 13-year expansion lease, bringing its total occupancy there to 191,000 square feet. The firm is now the largest tenant in the property, which is nearly 100 percent leased.
  • Event Sales
  • Address 2 Park Avenue
  • Neighborhood Garment District
  • Borough Manhattan
  • Square feet 960,000
  • Price $ 519,000,000
  • Price per foot $ 540.63
  • Publication Date 02/01/2007
  • Event Date 12/23/2006
  • Party 2 Morgan Stanley Real Estate's Prime Property Fund
notes
The building, which is 95 percent leased, sold for $519 million. The sellers acquired the property for $450 million in the Third quarter of 2006.
  • Event Sales
  • Address 2 Park Avenue
  • Neighborhood Garment District
  • Borough Manhattan
  • Square feet 960,000
  • Price $ 450,000,000
  • Price per foot $ 468.75
  • Publication Date 11/01/2006
  • Event Date 09/22/2006
  • Party 2 L&L Holding Co., General Electric Pension Trust
notes
The building sold for $450 million, or $468 a square foot. It last traded in 2003 for $292 million.
  • Event Sales
  • Address 2 Park Avenue
  • Neighborhood Garment District
  • Borough Manhattan
  • Square feet 855,142
  • Publication Date 09/01/2006
  • Event Date 07/23/2006
  • Party 1 L&L Holding, General Electric Pension Trust
  • Party 2 L&L Holding Co., General Electric Pension Trust
  • Party 2 Brokerage RMB Properties
notes
The building is in contract for an undisclosed amount.
  • Event Office Leasing
  • Address 2 Park Avenue
  • Neighborhood Garment District
  • Borough Manhattan
  • Square feet 75,000
notes
The largest fragrance company in the world signs a 16-year lease for the entire 17th floor and a portion of the 18th floor. The new space will consolidate operations and staff from existing offices at 1325 Sixth Avenue and 725 Fifth Avenue.
  • Event Office Leasing
  • Address 2 Park Avenue
  • Neighborhood Garment District
  • Borough Manhattan
  • Publication Date 05/01/2005
  • Event Date 03/22/2005
  • Party 2 Penn Mutual Life Insurance
  • Party 2 Brokerage Cushman & Wakefield
  • Party 2 Broker Frank Coco, Don Preate, Jamie Katcher,
notes
Consolidating from 260 and 261 Madison Ave
  • Event Office Leasing
  • Address 2 Park Avenue
  • Neighborhood Garment District
  • Borough Manhattan
  • Square feet 84,138
  • Publication Date 11/01/2004
  • Event Date 09/22/2004
  • Party 1 SEB Immobilien Investment GmbH
  • Party 1 Brokerage JLL
  • Party 2 Medical Liability Mutual Insurance Company
  • Party 2 Brokerage Newmark Grubb Knight Frank
  • Party 2 Broker Mark Weiss
notes
Med liability insurer expands in building under 11-year lease

06/01/2018
Illustration by Kolchoz New York’s residential market was something of a puzzle in 2017 â€' with exuberant buyers dropping eight-figure sums at 432 Park Avenue Illustration by Kolchoz New York’s residential market was something of a puzzle in 2017 â€' with exuberant buyers dropping eight-figure sums at 432 Park Avenue...

05/01/2018
The contractor has completed construction on most of Billionaires’ Row, including Harry Macklowe and CIM Group’s 432 Park Avenue, World Wide Group and Rose Associates’ 252 East 57th Street, Vornado Realty Trust’s 220 Central Park South and Hines’ 53 West 53rd Street...

03/29/2018
6 thanks to a pair of large projects in Crown Heights and Dumbo. The Los Angeles-based private equity firm has partnered with LIVWRK and Kushner Companies â€' also both on this list â€' for the massive project at 85 Jay Street in Dumbo, and it has partnered with LIVWRK on their large project at 109 Montgomery Street in Crown Heights as well. The firm is based in Los Angeles and is well known for buying 432 Park Avenue from Harry Macklowe’s lenders in 2011 for $305 million...

01/01/2018
The hedge fund, founded in 2004, made its first splash in Manhattan in 2011 when it lent Harry Macklowe $250 million to finance the condo conversion of 737 Park Avenue. Since then it has issued construction loans for 432 Park Avenue, 30 Park Place, 520 Park Avenue and 151 East 86th Street...

12/20/2017
Overall, this year’s top 10 added up to $552.9 million in sales â€' a 6.8 percent jump from last year’s $517.4 million, largely due to this week's $91.1 million deal at 432 Park Avenue...

12/13/2017
The year’s big winner in terms of sales volume was 56 Leonard Street, where 65 units sold for a total of $636 million, at an average of $9.8 million per unit. The most expensive condo building last year was 15 Central Park West, with six sales averaging $7,350 a square foot. The Runner Up Was 432 Park Avenue, where 15 units sold at an average of $5,626 a square foot...

10/01/2017
Two years after going into contract on a sky-high condo at 432 Park Avenue, Hong Kong casino mogul Lawrence Ho finally closed on the $65.2 million purchase in late March...

08/31/2017
Clocking in at No. 2 was Douglas Elliman with $5.92 billion in closed sales during that same time. Its most high-profile assignment was CIM Group and Harry Macklowe’s 432 Park Avenue...

08/01/2017
Clocking in at No. 2 was Elliman with $5.92 billion in closed sales during that same time. Its most high-profile assignment was CIM Group and Harry Macklowe’s 432 Park Avenue...

06/01/2017
While all of those agents were carried by their new development business, many of their deals went into contract two or three years ago, before the market began softening. Given the uncertainty today surrounding new developments â€' which skew toward the shaky luxury market â€' a number of top agents have since made further efforts to diversify into resales. For example, Saltiel, one of the agents selling Harry Macklowe’s ultraluxe 432 Park Avenue, racked up $266.4 million in new development sales...

12/20/2016
20, 6:35 p.m.: A decade after developer Harry Macklowe acquired the site for 432 Park Avenue, sales at the supertall condo tower dominated 2016’s top residential deals...

09/01/2016
From there, Trump built six more projects, although at one of them â€' Trump International Hotel and Tower, at 1 Central Park West â€' he reportedly did not have any equity invested. The last condo project Trump developed, according to TRD’s analysis, was 502 Park Avenue, a 122-unit condo conversion...

07/01/2016
Manhattan’s elite residential brokers aren’t just going after the most expensive listings to stay on top. They’re also recalibrating their business models to include aManhattan’s elite residential brokers aren’t just going after the most expensive listings to stay on top. They’re also recalibrating their business models to include a...

10/07/2015
The ranking comes with caveats: some developments have several closed sales, which are not reflected here, meaning it is by no means a ranking of sales success. And two prominent developments, 220 Central Park South and 432 Park Avenue, do not have any units under contract listed on OLR...

06/01/2015
Corporate Suites, which has been in business since 1998, just opened a new 25,000-square-foot space at 2 Park Avenue in tech-popular Midtown South...

06/01/2015
The fund ponied up $400 million for Harry Macklowe’s 432 Park Avenue and $600 million for Silverstein Properties’ Robert A.M...

05/01/2015
In 2014, Macklowe Properties tapped the firm to market and sell one of the highest-profile buildings in the city: 432 Park Avenue, which has an estimated sellout of $2.9 billion...

04/01/2015
(Credit: Noah McDonough) They’ve brokered billions of dollars in deals, broken records, and launched companies. And they’ve all done it all in a cutthroat and (Credit: Noah McDonough) They’ve brokered billions of dollars in deals, broken records, and launched companies. And they’ve all done it all in a cutthroat and...

12/01/2014
The company’s moves indicate it is focusing on the city’s prime retail corridors, although the purchase of 450 Park Avenue represents a bet that higher-priced retail will move farther east along 57th Street, drawn by the super-luxury towers rising there, including Macklowe Properties and CIM Group’s 432 Park Avenue...

11/01/2014
From left: Kelly Kennedy Mack of Corcoran Sunshine, Nancy Packes of Nancy Packes Inc., Roy Kim of Urban Compass and Shlomi Reuveni of Town From left: Kelly Kennedy Mack of Corcoran Sunshine, Nancy Packes of Nancy Packes Inc., Roy Kim of Urban Compass and Shlomi Reuveni of Town...

09/01/2014
From left: the $118.5M penthouse listing at the Ritz Carlton, Israel Englander and his co-op at 740 Park Avenue This year may not be over From left: the $118.5M penthouse listing at the Ritz Carlton, Israel Englander and his co-op at 740 Park Avenue This year may not be over...

08/01/2014
It’s $6,000-plus-per-square-foot asking price even comes close to the average price for listings and in-contract sales at three of New York City’s highest-profile buildings: 15 Central Park West, One57 and 432 Park Avenue...

03/01/2014
However, only two ultimately rented for those six-figure prices. Both were penthouse units at Trump Park Avenue at 502 Park Avenue, priced at $100,000 per month and listed by Trump International Realty’s Michelle Griffith...

01/01/2014
From left: Paula Del Nunzio, 21 Beekman Place and Melanie Lazenby With the New Year underway, it’s time for a post-mortem on last year’s residential From left: Paula Del Nunzio, 21 Beekman Place and Melanie Lazenby With the New Year underway, it’s time for a post-mortem on last year’s residential...

05/01/2013
She added that the firm has worked as the buyer’s broker in sought-after developments, such as 432 Park Avenue...