245 Park Avenue | The Real Deal New York

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245 Park Avenue

245 Park Avenue
New York, NY 10017
(212) 417-7020
Website
Office, Leasing/Rental

The 45-story, 1,867,000-square-foot office tower at 245 Park Avenue is one of the premier Class A commercial properties in Midtown.

The tower is owned and operated by Brookfield, the Canadian giant that also controls, through its various subsidiaries, several other Manhattan properties, including the five-building Brookfield Place and the under-development Manhattan West project.

Some 68,000 square feet of 245 Park is turned over to retail, while the remainder is office and support-services space, including 80,000 square feet of parking. The typical floorplate is 36,000 to 45,000 rentable square feet. Rents at 245 Park are among the highest in Manhattan, often starting at or north of $100 a square foot. The New York Observer in 2007 named the building one of the 10 priciest office towers in the city.

Tenants include Major League Baseball, which rents more than 130,000 square feet for its headquarters; and Societe Generale SA, Frances second-largest bank, which leased 552,400 square feet in 2010 for its U.S. headquarters.

Duncan McCuaig handles office leasing at the building; and Edward Hogan, also of Brookfield, handles retail deals. Designed by Shreve, Lamb & Harmon Associates, 245 Park was built in 1967.

-TA

  • Year Built 1966
  • square feet 1,586,886
  • block and lot 1-00130-1001
  • BIN 1036205

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...

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...

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...

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...

01/02/19
...245 Park Avenue and HNA Chairman Chen Feng (Credit: Google Maps and Wikipedia) The effects of a...

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...

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...

11/30/18
...245 Park Avenue and Marc Holliday (Credit: Wikipedia and SL Green) SL Green Realty has finalized a...

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...

...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...

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...

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  ...

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...

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...

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...

07/06/18
...Chen Feng and 245 Park Avenue (Credit: World Travel and Tourism Council via Flickr, 245 Park Ave, and Wikipedia) HNA Group...

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...

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...

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...

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...

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...

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...

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...

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...

...p.m.: 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...

...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...