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20 Park Avenue

20 Park Avenue
New York, NY 10016
Retail, Residential, Leasing/Rental, Multifamily

The building at 20 Park Avenue overlooks some of the most architecturally impressive landmarks in midtownincluding the New York Public Library and Grand Central Stationbut when the building itself was built it was considered modest by comparison.

Built in 1939, it was designed by architect Emery Roth, who often incorporated Art Deco designs into his work. However, the building reflects more the zeitgeist of the year it was built: the first of Roths buildings in Murray Hill to be built after the 1929 stock market crash, the building was considered more austere than some of Roths previous designs.

In 2005, the building, along with three other rental properties167 East 82nd Street, 10 Downing Street, and 41 Park Avenuewas put on the sales block and expected to fetch about $175 million. Real estate developer Stonehenge Partners eventually closed on the properties for $168.5 million, and later put $12 million into renovating the four buildings (20 Park saw renovations in 2009 and 2010, including a brand new fitness center). -NR

  • Address 20 Park Avenue
  • neighborhood Murray Hill
  • borough Manhattan
  • owner Stonehenge Partners
  • floors 20
  • Year Built 1939
  • residential units 96
  • total units 96
  • square feet 101,306
  • block and lot 1-00055-6016
  • BIN 1017126
  • Event Sales
  • Address 20 Park Avenue
  • Neighborhood Garment District
  • Borough Manhattan
  • Price $ 200,000,000
notes
Platinum Portfolio sold for less than $200 million; likely to stay rental. Includes 41 Park Avenue, 10 Downing Street and 167 East 82nd Street.

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
And two units at Zeckendorf Development’s 520 Park Avenue, each asking more than $70 million, went into contract in June...

09/01/2016
Related's Stephen Ross Residential condo development is the riskiest sector within the risky business of real estate. Evidence for that is found in both the Related's Stephen Ross Residential condo development is the riskiest sector within the risky business of real estate. Evidence for that is found in both the...

12/31/2015
The apartment at 550 Madison Avenue is set to take the cake as the most expensive listing in New York City (and its biggest, at 21,000 square feet.) And other developers followed suit: The Zeckendorf brothers are asking $130 million for a triplex penthouse at 520 Park Avenue, JDS Development Group and Property Markets Group are reportedly going to launch $100 million-plus penthouses at 111 West 57th Street, and even Ben Shaoul’s Magnum Real Estate Group is mulling a seven-figure ask at his redevelopment of the Verizon building at 140 West Street...

04/01/2015
Click to enlarge With a handful of record sales in the past year, there’s no question Manhattan real estate has entered a new stratosphere. But Click to enlarge With a handful of record sales in the past year, there’s no question Manhattan real estate has entered a new stratosphere. But...

01/02/2015
The priciest closed sale of the year was hedge-funder Israel Englander’s (left) purchase of the former French Ambassador’s residence at 740 Park Avenue for The priciest closed sale of the year was hedge-funder Israel Englander’s (left) purchase of the former French Ambassador’s residence at 740 Park Avenue for...

09/01/2014
There were summertime deals, however. Private debt and equity placement firm the Audax Group signed a new lease in mid-July for the entire 19th floor of 320 Park Avenue, between 50th and 51st streets, information from the leasing data firm CompStak showed...

04/01/2012
The first-quarter figure was just over half the 12 million recorded in the first three months of 2011, which was a particularly active period for Manhattan leasing, with major deals like NBC Universal renewing a 1.3 million-square-foot lease at 30 Rockefeller Plaza, and Bloomberg LP leasing 482,399 square feet at 120 Park Avenue...

10/03/2011
JPMorgan Chase listed two major sites: 452,000 square feet at 277 Park Avenue, and 140,000 square feet at 320 Park Avenue, according to Cassidy Turley data...

03/31/2011
Brokers pointed to recent examples such as Wells Fargo being snubbed at 120 Park Avenue in favor of Bloomberg LP, and law firm WilmerHale losing out at 825 Eighth Avenue after Nomura Holding America sought more space there...

02/28/2011
And growing Bloomberg LP took a massive 400,000 square feet at 120 Park Avenue in Midtown...

01/31/2010
Fueling the high sublet rate was a trio of buildings on the thoroughfare, including 277 Park Avenue, which has about 400,000 square feet of sublet space available, as well as 320 Park Avenue and 237 Park Avenue, CoStar Group data showed...

11/30/2009
Meanwhile, in 1992, Mutual of America also bought a piece of the Olympia & York empire at 320 Park Avenue for what brokers said was $109 million, or about $175 a foot...