350 Park Avenue | The Real Deal New York

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350 Park Avenue

350 Park Avenue
New York, NY 10022
(212) 894-7413
Website
Office, Leasing/Rental

This 30-story, 538,000-square-foot tower, built in 1960, occupies an entire block front on the west side of Park Avenue, stretching 201 feet between 51st and 52nd Streets. Office tenants include investment bank China International Capital Corp. and executive-search firm Egon Zehnder; Fidelity Investments occupies retail space. Square Mile Capital signed a deal in January 2015 to consolidate its offices at 350 Park Av., doubling its space to 21,000 feet and taking the entire 15th floor in a sublease from Ziff Brothers Investments.

Vornado Realty Trust bought the building in 2006 for $541 million, or more than $1,000 a square foot, from Atlanta-based Fosterland Holdings. After the building was reportedly placed on a loan servicer watchlist in 2011, with a $430 million loan due the following January, Vornado arranged $300 million in new financing from New York Community Bank and paid the rest in cash.

-NE

  • Year Built 1961
  • square feet 535,720
  • block and lot 1-01287-0033
  • BIN 1035473

04/21/17
...million loan backed by Vornado Realty Trust’s 350 Park Avenue, part of a $400 million financing package provided by Goldman Sachs, and a $70 million loan...

12/08/16
...Lloyd Blankfein, Steven Rothand 350 Park Avenue Vornado Realty Trust locked down a $400 million loan from Goldman Sachs for its 571,000-square-foot...

07/30/15
...it will open its first coworking space at 350 Park Avenue. In early July, Rudin Management and Boston Properties announced they are developing a 675,000-square-foot...

07/23/15
...350 Park Avenue in Midtown (inset: Ted Doukakos) The Citco Group of Companies is the latest entrant...

01/26/15
...350 Park Avenue in Midtown Lender Square Mile Capital, which got hammered by the financial crisis that...

08/06/13
...than $115 per square foot, and four deals at 350 Park Avenue for north of $100 per square foot. “Barfing out some of that sublease space at...

03/27/12
...including the Lipstick Building at 885 Third Avenue and 350 Park Avenue. Fosterlane could not be reached for comment, and a representative for the Kuwait Investment...

08/25/11
...Vornado Realty Trust’s 350 Park Avenue office tower was put on Wells Fargo’s loan servicer watch list this month...

04/29/11
...the former owner of the Lipstick Building and 350 Park Avenue, is getting back into the New York City real estate game with the purchase...

04/21/11
...fund China Investment Corp. expanded its offices at 350 Park Avenue last year...

05/25/10
...Crain's reported. Among those on the list are 350 Park Avenue and the Lever House at 390 Park Avenue. The list includes buildings which are either...

11/02/09
...Other high-leverage buildings, such as Vornado Realty Trust's 350 Park Avenue, between 51st and 52nd streets, with nearly an 80 percent loan-to-value ratio, have an availability...

...which owns the 30-story, 537,000-square-foot office tower at 350 Park Avenue, is expected to put the building on the market, the Sun reported. The building...

...Realty Trust $542 million, or $1,007 per square foot, for 350 Park Avenue at the end of 2006. "Middle Eastern buyers have an abundance of cash," said Craig...

...Realty Trust $542 million, or $1,007 per square foot, for 350 Park Avenue. "What's interesting about is they did what new entrants typically do, they buy very...

...of the Americas, which sold for $1.5 billion, and 350 Park Avenue, which sold for $542 million. The next day, Kushner sent over a one-page offer sheet...

...Connecticut. Then, last November, Fosterlane sold the 538,000-square-foot 350 Park Avenue to Vornado Realty Trust for $542 million, or more than $1,000 a square foot. The conglomerate's...

11/01/06
...Vornado Realty Trust has agreed to purchase 350 Park Avenue for $542 million. Boasting a 0% vacancy rate, the 30-story, 535,096-square-foot office tower will sell for...
  • Event Office Leasing
  • Address 350 Park Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 8,105
notes
The investment firm expanded its lease.
  • Event Financing
  • Address 350 Park Avenue
  • Neighborhood Central Midtown
  • Borough Manhattan
  • Square feet 30
  • Price $ 400,000,000
notes
The company secured a loan for its fully lease office and retail building.
  • Event Office Leasing
  • Address 350 Park Avenue
  • Neighborhood Midtown
  • Borough Manhattan
  • Square feet 8,018
notes
The investment advisory firm expanded to the entire 24th floor for 5 years.
  • Event Office Leasing
  • Address 350 Park Avenue
  • Neighborhood Midtown
  • Borough Manhattan
  • Square feet 21,000
notes
The real estate financial firm signed a lease and will occupy the entire 15th floor. Square Mile is subleasing the space from Ziff Brothers Investments.
  • Event Financing
  • Address 350 Park Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 538,000
notes
Along with the completion of its $542 million acquisition of the property, Vornado completed a $430 million, five-year, interest-only financing secured by the property, which bears interest at 5.48 percent. office building.
  • Event Sales
  • Address 350 Park Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 538,000
  • Price $ 542,000,000
  • Price per foot $ 1,007.43
notes
The building, which is 100 percent leased, sold for $542 million, or $1,007 per square foot. The deal is expected to close in the fourth quarter of 2006.
  • Event Office Leasing
  • Address 350 Park Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 31,000
notes
Expanding upon the lease they signed for 126,000 last March. Tenant is moving from the Citigroup Center at 153 East 53rd Street.
  • Event Office Leasing
  • Address 350 Park Avenue
  • Neighborhood Midtown
  • Borough Manhattan
  • Square feet 11,200
notes
Private merchant bank subleases space. It will continue to occupy a portion of the fifth floor. Ed Lederman of CBRE represented building owners 350 Park Investors.
  • Event Office Leasing
  • Address 350 Park Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 125,000
  • Publication Date 05/01/2005
  • Event Date 03/22/2005
  • Party 1 Brokerage CBRE
  • Party 2 Ziff Brothers Investment
  • Party 2 Brokerage CBRE
  • Party 2 Broker Brian Gell
notes
Moving, expanding slightly from Citigroup Center
  • Event Office Leasing
  • Address 350 Park Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 7,500
  • Publication Date 04/01/2005
  • Event Date 02/20/2005
  • Party 1 Fosterlane Management
  • Party 1 Brokerage CBRE
  • Party 2 Leeds Weld & Company
  • Party 2 Brokerage Newmark Grubb Knight Frank
notes
Private equity firm signs 10-year lease
  • Event Office Leasing
  • Address 350 Park Avenue
  • Neighborhood Midtown
  • Borough Manhattan
  • Square feet 7,400
  • Publication Date 01/01/2005
  • Event Date 11/17/2004
  • Party 1 Roland Berger Strategy Consultants LLC
  • Party 1 Broker Sean Black
  • Party 2 FLA Advisers LLC
  • Party 2 Brokerage JLL
  • Party 2 Broker Michael Gerla
notes
Investment advisor moves from 590 Madison Ave
  • Event Office Leasing
  • Address 350 Park Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 33,000
  • Publication Date 11/01/2004
  • Event Date 09/22/2004
  • Party 1 50 Park Avenue Investors
  • Party 1 Brokerage CBRE
  • Party 1 Broker Edward Lederman
  • Party 2 Tweedy, Browne Company
  • Party 2 Brokerage Vortex Group
  • Party 2 Broker Frederick Marek
notes
Investment firm renews and adds 12,000 sf