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    345 Park Avenue

    345 Park Avenue
    New York, NY 10022
    (212) 407-2481
    Website
    Office, Leasing/Rental

    345 Park Avenue is a 634-foot tall, 1,832,210-square-foot office skyscraper in Midtown, Manhattan. It was built in 1969 at the former site of The Ambassador Hotel by Rudin Management Comapany, and was designed by Emery Roth & Sons architects. The building has an annual NOI of $68.9 million and is the most profitable in Rudins property portfolio. It was renovated in 1999.

    The buildings biggest leaseholder is accounting firm KPMG with 639,562-square-feet. Other major tenants include The Blackstone Group (212,550-square-feet), Deutche Bank (183,566-square-feet), the headquarters of the National Football League (NFL) (173,885-square-feet), and Loeb & Loeb (117,914-square-feet).

    • Address 345 Park Avenue
    • neighborhood Plaza District
    • borough Manhattan
    • owner Rudin Management
    • owner entity 345 PARK AVENUE, L.P.
    • architect Emery Roth & Sons
    • sales/marketing Rudin Management, Thomas Keating
    • height in feet 634
    • Year Built 1969
    • square feet 1,832,210
    • block and lot 1-01306-0001
    • BIN 1036460
    • Event Financing
    • Address 345 Park Avenue
    • Neighborhood Midtown East
    • Borough Manhattan
    • Square feet 1,712,218
    • Price $ 550,000,000
    • Publication Date 12/30/2018
    • Event Date 12/24/2018
    • Party 1 Rudin Management
    • Party 2 Prudential Real Estate, New York State Teachers Retirement System
    notes
    The lender issued a loan of $550 million for the Midtown East property.
    • Event Office Leasing
    • Address 345 Park Avenue
    • Neighborhood Midtown East
    • Borough Manhattan
    • Square feet 148,587
    notes
    The investment firm signed a deal to expand its lease for the Midtown East building.
    • Event Financing
    • Address 345 Park Avenue South
    • Neighborhood Flatiron
    • Borough Manhattan
    notes
    A $100 million, 10-year CMBS loan was provided to refinance the property. 12-story office building.
    • Event Retail Leasing
    • Address 345 Park Avenue South
    • Neighborhood Flatiron
    • Borough Manhattan
    • Square feet 7,675
    • Publication Date 09/01/2010
    • Event Date 07/23/2010
    • Party 1 RFR Holding
    • Party 1 Brokerage RKF
    • Party 1 Broker Robert Futterman, Joshua Strauss, Michael Worthman
    • Party 2 Doral Bank
    • Party 2 Brokerage William Crisp Realty
    • Party 2 Broker William Crisp
    notes
    The bank signed a lease.
    • Event Office Leasing
    • Address 345 Park Avenue
    • Neighborhood Grand Central
    • Borough Manhattan
    • Square feet 180,000
    • Publication Date 09/01/2010
    • Event Date 07/18/2010
    • Party 1 Rudin Management
    • Party 1 Brokerage Represented in-house
    • Party 2 National Football League
    • Party 2 Brokerage JLL
    • Party 2 Broker Lou D'Avanzo, Peter Hennessy, Daoud Awad
    notes
    The NFL signed a lease for 150,000 square feet on the fifth through seventh floors and 30,000 square feet below grade. The above-ground floors had a reported asking rent of $70 per square foot.
    • Event Office Leasing
    • Address 345 Park Avenue
    • Neighborhood Grand Central
    • Borough Manhattan
    • Square feet 65,000
    • Publication Date 07/01/2010
    • Event Date 05/17/2010
    • Party 1 Rudin Management
    • Party 2 Piper Jaffray
    notes
    The investment bank signed a lease. The reported asking rent was in the $70s per square foot. The tenant is consolidating and relocating its offices from 245 Park Avenue and 150 East 42nd Street.
    • Event Office Leasing
    • Address 345 Park Avenue
    • Neighborhood Grand Central
    • Borough Manhattan
    • Square feet 155,000
    notes
    The law firm signed a new 20-year lease directly with the landlord for floors 18 through 20 and expanded onto the 12th floor. The company had been subleasing space from Bristol Meyers at the building.
    • Event Office Leasing
    • Address 345 Park Avenue
    • Neighborhood Grand Central
    • Borough Manhattan
    • Square feet 150,000
    notes
    The Deutsche Bank affiliate signed a 10-year lease renewal for space it had been occupying since 2001. The reported asking rent was in excess of $100 per square foot. The lease will take effect starting January 2010.
    • Event Retail Leasing
    • Address 345 Park Avenue
    • Neighborhood Plaza District
    • Borough Manhattan
    • Square feet 4,100
    notes
    The Paris-based steakhouse signed a lease for its first U.S. location. The restaurant plans to open in April 2009.
    • Event Retail Leasing
    • Address 345 Park Avenue
    • Neighborhood Plaza District
    • Borough Manhattan
    • Square feet 5,000
    • Publication Date 04/01/2007
    • Event Date 02/20/2007
    • Party 1 JPMorgan Chase & Co.
    • Party 1 Brokerage Mogull Realty
    • Party 1 Broker Kim Mogull
    • Party 2 Mo's Restaurants
    • Party 2 Brokerage Mogull Realty
    • Party 2 Broker Kim Mogull
    notes
    The Milwaukee-based restaurant group inked a sublease for its first restaurant in New York. The new restaurant, Moceans, will open in the space formerly occupied by Broadway Diner. The asking rent was reportedly $150 per square foot. Tom Keating represented landlord Rudin Management in the transaction.
    • Event Office Leasing
    • Address 345 Park Avenue
    • Neighborhood Grand Central
    • Borough Manhattan
    • Square feet 34,968
    notes
    The tenant has been subleasing space in the 1.6-million-square-foot property since 1991.
    • Event Office Leasing
    • Address 345 Park Avenue South
    • Neighborhood Flatiron
    • Borough Manhattan
    • Square feet 240,000
    • Publication Date 06/01/2006
    • Event Date 04/17/2006
    • Party 1 RFR Holding
    • Party 1 Brokerage RFR Holding
    • Party 1 Broker Richard Farley
    • Party 2 Digitas
    • Party 2 Brokerage Cushman & Wakefield
    • Party 2 Broker Don Preate, Frank Coco, Jamie Katcher
    notes
    The Internet marketing firm, which occupied significant space in the property, signed an early renewal and expansion for 15 years.
    • Event Office Leasing
    • Address 345 Park Avenue
    • Neighborhood Grand Central
    • Borough Manhattan
    • Square feet 230,000
    notes
    Private equity firm renews lease and expands by 35,000 square feet; the deal closed in January.
    • Event Office Leasing
    • Address 345 Park Avenue
    • Neighborhood Grand Central
    • Borough Manhattan
    • Square feet 70,000
    notes
    KPMG expands to 400,000 sf, now largest tenant
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