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245 Park Avenue

245 Park Avenue
New York, NY 10167
Office, Leasing/Rental
  • Address 245 Park Avenue
  • neighborhood Grand Central
  • borough Manhattan
  • owner Brookfield Property Partners
  • owner entity BOP 245 PARK LLC
  • floors 45
  • square feet 1,586,886
  • const. status Building Complete
  • block and lot 1-01301-0001
  • BIN 1036205

Will a tech giant’s huge appetite transform a vibrant slice of Manhattan?
02/21/19
...Bryant Park ($2.2 billion, or $1,875 per square foot) and 245 Park Avenue ($2.2 billion, or $1,127 per square foot). TRD excluded partial-stake deals for the purpose of this...

In retreat, Chinese investors are now targeting more mundane US real estate
01/29/19
...HNA Group held onto a controlling stake at 245 Park Avenue.) Chinese investors would have been net sellers for the entire year if it weren't...

Inside HNA’s fast fall from grace
01/09/19
...HNA would put its most prized Manhattan trophy, 245 Park Avenue, up for sale. The Chinese conglomerate had bought the Midtown office tower for a...

HNA, partners take financial loss on sale of 850 Third Avenue
01/09/19
...security concerns. HNA also sold a stake in 245 Park Avenue last year to SL Green Realty, which invested $148.2 million in the tower that HNA...

WarnerMedia looking to sell Hudson Yards office space for $2B
01/08/19
...Chelsea Market building and the $2.21 billion deal for 245 Park Avenue in 2017. WarnerMedia purchased its office space, which spans the 16th through 51st floors, from...

Chinese investors are pulling their money out of the US and Europe
01/02/19
...245 Park Avenue and HNA Chairman Chen Feng (Credit: Google Maps and Wikipedia) The effects of a...

These Chinese firms were 2018’s biggest
real estate sellers
12/24/18
...for $305 million. It also sold a stake in 245 Park Avenue to SL Green Realty for $148.2 million. Since January, Chinese companies have sold $12.3 billion worth...

Chinese investors sold $1B in US real estate in Q3
12/06/18
...Realty bought a $148 million stake in HNA Group's 245 Park Avenue. The struggling Chinese conglomerate paid $2.2 billion for the office tower in 2017, with $1.8 billion in...

SL Green invests $148M for stake in HNA’s 245 Park Avenue
11/30/18
...245 Park Avenue and Marc Holliday (Credit: Wikipedia and SL Green) SL Green Realty has finalized a...

SL Green is buying back $2 billion of its shares — is it rolling the dice?
11/12/18
...controlling stake in the beleaguered HNA Group’s 245 Park Avenue office tower. Holliday noted on the earnings call that “2 Herald Park and 245 Park are...

Sizing up SL Green’s big bet
...controlling stake in the beleaguered HNA Group’s 245 Park Avenue office tower. Holliday noted on the earnings call that “2 Herald Park and 245 Park are...

As Chen Feng’s grip on HNA tightens, the firm is selling its Deutsche stake
09/19/18
...HNA founder Chen Feng and 245 Park Avenue (Credit: Wikipedia and 245parkave) Chinese conglomerate HNA Group, the largest shareholder in Deutsche Bank...

HNA is shedding its Deutsche Bank stake — and other overseas assets
09/07/18
...Avenue for $305 million and is trying to unload 245 Park Avenue, which it bought for $2.21 billion in May. — Meenal Vamburkar  ...

Is Wells Fargo targeting the right buyer pool for its sale of Eastdil?
08/10/18
...were bolstered by HNA’s $2.2 billion buy of 245 Park Avenue, the largest sale of the year. Meanwhile, Eastdil was the second most active debt...

HNA exec promoted to global role after co-founder’s death
08/02/18
...million and is selling a controlling stake in 245 Park Avenue, which it bought for $2.2 billion, to SL Green Realty. — Meenal Vamburkar...

Behind Brookfield’s development tear
07/20/18
...Brookfield unloaded around $3 billion worth of properties between 245 Park Avenue and a stake in One Liberty Plaza. And its parent company, Toronto-based Brookfield Asset...

HNA’s Chen Feng to step up leadership role following death of co-chairman
07/06/18
...Chen Feng and 245 Park Avenue (Credit: World Travel and Tourism Council via Flickr, 245 Park Ave, and Wikipedia) HNA Group...

HNA co-chairman Wang Jian dead after cliff fall in France
07/04/18
...to acquire a controlling stake in office tower 245 Park Avenue, which HNA bought in 2016 for $2.21 billion. HNA paid about $1,300 a square foot for the...

CBRE hires HFF I-sales broker David Fowler
06/27/18
...building sale – HNA Group’s $2.2 billion purchase of 245 Park Avenue. (The tower may soon sell again, as SL Green Realty negotiates a controlling-stake purchase...

SL Green to buy controlling stake in 245 Park from HNA Group
06/24/18
...SL Green Realty CEO Marc Holliday, 245 Park Avenue and HNA Group North America president Daniel Chen. (Credit: Google Maps, HNA) After months...

HNA and MHP secure $342M refi at 850 Third
06/15/18
...SL Green Realty is reportedly negotiating to buy 245 Park Avenue. MHP meanwhile is downsizing and relocating its offices in the wake of the sale...

Should NYC’s pension funds profit from their real estate?
06/07/18
...spent $438 million to acquire a 49 percent interest in 245 Park Avenue. Last year, they sold it for a hefty profit at $2.2 billion.   – Eddie Small...

HNA sells San Fran office tower to Northwood Investors for $300M
05/26/18
...fund was said to be looking at HNA's 245 Park Avenue property. Northwood did not immediately respond to requests for comment. According to Bloomberg, HNA...

Chinese investment tanked in LA in 2017, but some say that spells opportunity for local players
05/07/18
...put on the market by HNA Group include 245 Park Avenue, a Manhattan tower the group purchased for $2.1 billion last year; 850 Third Avenue, also in...

NYC’s biggest debt brokerages
05/03/18
...Dustin Stolly HNA Group’s $2.21 billion purchase of 245 Park Avenue — the city’s biggest investment sales deal of 2017 — was brokered by the world’s...
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  • Event Office Leasing
  • Address 245 Park Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 36,000
notes
The broker-dealer signed a lease, the New York Post reported. The tenant is relocating from a smaller, 10,000-square-foot space at 650 Fifth Avenue.
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  • Event Office Leasing
  • Address 245 Park Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 50,000
notes
The investment firm signed an expansion lease for an extra floor, Crain's reported. The tenant now occupies about 110,000 square feet at the building.
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  • Event Office Leasing
  • Address 245 Park Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 74,766
  • Publication Date 08/01/2012
  • Event Date 06/22/2012
  • Party 2 Angelo Gordon & Company
  • Party 2 Brokerage Newmark Grubb Knight Frank
  • Party 2 Broker David Falk, Peter Shimkin
notes
The investment advisor signed a lease renewal.
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  • Event Office Leasing
  • Address 245 Park Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 20,700
  • Publication Date 01/01/2012
  • Event Date 11/22/2011
  • Party 1 Brookfield Office Properties
  • Party 1 Brokerage In-house
  • Party 2 Skandinaviska Enskilda Banken
  • Party 2 Brokerage Cassidy Turley
  • Party 2 Broker Aron Schreier, Jonathan Schindler
notes
The Nordic financial company signed a long-term lease.
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  • Event Office Leasing
  • Address 251 Park Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 30,000
  • Publication Date 07/01/2011
  • Event Date 05/22/2011
  • Party 1 F.M. Ring Associates
  • Party 1 Brokerage In-house
  • Party 2 Maharam
  • Party 2 Brokerage Newmark Grubb Knight Frank
  • Party 2 Broker Billy Mendelson, Romel Canete
notes
The interior textiles company signed a 10-year lease renewal and expansion onto an additional floor.
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  • Event Financing
  • Address 245 Park Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 1,700,000
  • Publication Date 01/01/2011
  • Event Date 11/22/2010
  • Party 1 Brookfield Office Properties
  • Party 1 Brokerage JLL
  • Party 1 Broker Robert Martin
  • Party 2 Bank of China
notes
An $800 million refinancing loan was provided for the Class A building. 44-story office building.
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  • Event Office Leasing
  • Address 245 Park Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 444,000
notes
The financial services firm signed a 20-year lease for floors three through 12. The lease will begin in mid-2013. The company will be relocating from 1221 Sixth Avenue, its home for the last 20 years.
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  • Event Office Leasing
  • Address 245 Park Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 59,714
notes
The private equity firm signed a lease for 15 years and nine months.
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  • Event Office Leasing
  • Address 245 Park Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 23,826
notes
The hedge fund subleased space.
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  • Event Office Leasing
  • Address 245 Park Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 17,000
notes
The offices of SEB Enskilda, which had been located 570 Lexington Avenue, were sublet and the firm then moved into offices occupied by parent company Skandinaviska Enskilda Banken. The parent company then inked a long-term lease renewal for the space at 245 Park Avenue.
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  • Event Office Leasing
  • Address 245 Park Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 147,000
notes
The group signed a renewal lease that included an expansion of an additional 36,000 square feet.
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  • Event Office Leasing
  • Address 245 Park Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 45,000
notes
Unit of Northwest Mutual Life subleases space, moves from 1114 Sixth Avenue.
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  • Event Retail Leasing
  • Address 245 Park Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 1,750
  • Publication Date 09/01/2005
  • Event Date 07/23/2005
  • Party 2 Juan Valdez Café
  • Party 2 Brokerage Grubb & Ellis
  • Party 2 Broker Dan Gronich, Gary Schwartzman
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  • Event Office Leasing
  • Address 245 Park Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 9,148
  • Publication Date 05/01/2005
  • Event Date 03/22/2005
  • Party 1 Marakon Associates
  • Party 1 Brokerage CBRE
  • Party 1 Broker Alan Desino
  • Party 2 DA Capital
  • Party 2 Brokerage Grubb & Ellis
  • Party 2 Broker Andrew Hawkins, Howard Grufferman
For more info, click here
  • Event Office Leasing
  • Address 245 Park Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 38,821
notes
Investment co. renews lease and adds 19,800 sf
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  • Event Office Leasing
  • Address 245 Park Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 35,000
notes
Dutch bank expands to entire 37th floor
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  • Event Office Leasing
  • Address 245 Park Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 60,152
notes
Investment banking firm moving from 685 Third Ave and expanding
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  • Event Office Leasing
  • Address 245 Park Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 19,095
notes
Insurance firm, with office downtown, expands in Midtown

Help from the French, but still a struggle
...agreed to take up to 560,000 square feet at 245 Park Avenue, moving east from offices on Sixth Avenue in Rockefeller Center. And also last month...

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