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425 Park Avenue

425 Park Avenue
New York, NY 10022
212-920-3378
Retail, Leasing/Rental

This property is a new development. The developer(s) filed plans in September of 2013 to build a 511,538-square-foot building at 425 Park Avenue in the Midtown neighborhood of Manhattan. The plans call for an occupancy classification of B - BUSINESS. The building is owned by L&L Holding. The building is under construction.

  • Address 425 Park Avenue
  • neighborhood Midtown
  • borough Manhattan
  • owner L&L Holding
  • developer L&L Holding
  • owner entity 425 PARK OWNER LLC
  • architect Arch + Dev Mortar
  • PLANS DISCLOSED 09/18/2013
  • dob permit issued 09/27/2017
  • DOB FILE PLANS 09/18/2013
  • DOB FILE Link
  • height in feet 892
  • floors 42
  • total units 17
  • square feet 511,538
  • const. status UNDER CONSTRUCTION
  • block and lot 1-01310-0001
  • BIN 1036505
  • Event Office Leasing
  • Address 425 Park Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 124,000
  • Publication Date 01/11/2019
  • Event Date 01/10/2019
  • Party 1 L&L Holding
  • Party 2 Citadel
  • Party 2 Brokerage JLL
  • Party 2 Broker Alex Chudnoff, Joseph Messina, Matthew Astrachan
notes
The hedge fund inked a deal to expand its lease for the Plaza District location.
  • Event Residential Sales
  • Building Name 425 Park Avenue South
  • Address Unit 19C, 425 Park Avenue South
  • Unit 19C
  • Neighborhood Flatiron
  • Borough Manhattan
  • Price $ 1,100,000
  • Publication Date 03/10/2016
  • Event Date 03/03/2016
  • Party 1 Daniels, Pamela K
  • Party 2 Chung, Amy; Chung, Ellen
  • Event Office Leasing
  • Address 425 Park Avenue
  • Neighborhood Midtown East
  • Borough Manhattan
  • Square feet 200,000
  • Amount Price 1
notes
The hedge fund signed a lease for the penthouse floors of the property.
  • Event Residential Sales
  • Building Name 425 Park Avenue South
  • Address Unit 19B, 425 Park Avenue South
  • Unit 19B
  • Neighborhood Flatiron
  • Borough Manhattan
  • Price $ 1,230,000
  • Publication Date 10/13/2015
  • Event Date 09/30/2015
  • Party 1 Rosenberg, Keli
  • Party 2 Groh, Elissa; Rice, Douglas
  • Event Residential Sales
  • Building Name 425 Park Avenue South
  • Address Unit 18A, 425 Park Avenue South
  • Unit 18A
  • Neighborhood Flatiron
  • Borough Manhattan
  • Price $ 810,000
  • Publication Date 05/26/2015
  • Event Date 05/11/2015
  • Party 1 Guske, William
  • Party 2 Laugier, Odile; Miller, Steven J
  • Event Residential Sales
  • Building Name 425 Park Avenue South
  • Address Unit 19D, 425 Park Avenue South
  • Unit 19D
  • Neighborhood Flatiron
  • Borough Manhattan
  • Price $ 1,053,000
  • Publication Date 07/14/2014
  • Event Date 07/01/2014
  • Party 1 Metlitsky, Boris; Metlitsky, Ella
  • Party 2 Michaelson, Craig; Michaelson, Mindi
  • Event Residential Sales
  • Building Name 425 Park Avenue South
  • Address Unit 16B, 425 Park Avenue South
  • Unit 16B
  • Neighborhood Flatiron
  • Borough Manhattan
  • Price $ 1,150,000
  • Publication Date 06/03/2014
  • Event Date 05/29/2014
  • Party 1 Quadrino, Michael
  • Party 2 Makes, Kelly; Makes, Philip
  • Event Residential Sales
  • Building Name 425 Park Avenue South
  • Address Unit 10B, 425 Park Avenue South
  • Unit 10B
  • Neighborhood Flatiron
  • Borough Manhattan
  • Price $ 955,000
  • Publication Date 12/03/2013
  • Event Date 11/21/2013
  • Party 1 Klein, Diane
  • Party 2 Baltimore, Keith
  • Event Residential Sales
  • Building Name 425 Park Avenue South
  • Address Unit 15B, 425 Park Avenue South
  • Unit 15B
  • Neighborhood Flatiron
  • Borough Manhattan
  • Price $ 925,000
  • Publication Date 08/29/2013
  • Event Date 07/29/2013
  • Party 1 Corbacho, Joseph
  • Party 2 Nair, Rekha; Purohit, Neel
  • Event Residential Sales
  • Building Name 425 Park Avenue South
  • Address Unit 15C, 425 Park Avenue South
  • Unit 15C
  • Neighborhood Flatiron
  • Borough Manhattan
  • Price $ 840,000
  • Publication Date 01/04/2013
  • Event Date 12/20/2012
  • Party 1 Schmertz, Anthony
  • Party 2 Konnikov, Philip A
  • Event Retail Leasing
  • Address 425 Park Avenue South
  • Neighborhood Flatiron
  • Borough Manhattan
  • Square feet 3,000
  • Publication Date 11/01/2012
  • Event Date 09/22/2012
  • Party 1 Brokerage Buchbinder & Warren
  • Party 1 Broker William Abramson
  • Party 2 Fresh & Company
  • Party 2 Brokerage Jack Terzi Real Estate
  • Party 2 Broker Albert Sultan
notes
The health food chain signed a 10-year lease with a five-year option for another location. The space consists of 2,200 square feet on the ground floor and 800 square feet on the mezzanine level.
  • Event Office Leasing
  • Address 425 Park Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 25,000
  • Publication Date 03/01/2012
  • Event Date 01/21/2012
  • Party 1 Lebhar Friedman
  • Party 1 Brokerage Newmark Grubb Knight Frank
  • Party 1 Broker Jeffrey Rosenblatt
  • Party 2 Keller Williams Realty
  • Party 2 Brokerage Newmark Grubb Knight Frank
  • Party 2 Broker Jeffrey Rosenblatt
notes
The residential brokerage signed a sublease on the sixth floor. The building is owned by L&L Holding Company.
  • Event Residential Sales
  • Building Name 425 Park Avenue South
  • Address Unit 12C, 425 Park Avenue South
  • Unit 12C
  • Neighborhood Flatiron
  • Borough Manhattan
  • Price $ 870,000
  • Publication Date 02/06/2012
  • Event Date 01/19/2012
  • Party 1 Kirchhoff, David; Kirchhoff, Sandra
  • Party 2 Adam, Antoine
  • Event Residential Sales
  • Building Name 425 Park Avenue South
  • Address Unit 10D, 425 Park Avenue South
  • Unit 10D
  • Neighborhood Flatiron
  • Borough Manhattan
  • Price $ 720,000
  • Publication Date 01/18/2012
  • Event Date 12/28/2011
  • Party 1 Garan, Gina; Somers, Asa
  • Party 2 Shields, Katie Colleen
  • Event Sales
  • Address 425 Park Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Price $ 315,000,000
  • Publication Date 07/01/2011
  • Event Date 05/22/2011
  • Party 1 Goelet family
  • Party 2 TIAA-CREF
notes
The land underneath the building sold for $315 million.
  • Event Financing
  • Address 425 Park Avenue South
  • Neighborhood Flatiron
  • Borough Manhattan
  • Price $ 7,400,000
  • Publication Date 07/01/2011
  • Event Date 05/22/2011
  • Party 1 425 Park South Tower
  • Party 2 NCB
notes
A $7.4 million first mortgage and a $500,000 line of credit were arranged for the 73-unit apartment building.
  • Event Sales
  • Address 425 Park Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 600,000
  • Price $ 1,000,000,000
  • Price per foot $ 1,666.67
  • Publication Date 11/01/2006
  • Event Date 09/22/2006
  • Party 1 Goelet family
  • Party 2 L&L Holding Co.
notes
An 84-year ground lease sold for approximately $1 billion, plus rent over the term. The lease does not begin until 2015. The current state of disrepair has led speculation that the building may be razed and rebuilt.
  • Event Sales
  • Address 425 Park Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Publication Date 09/01/2006
  • Event Date 07/23/2006
  • Party 1 Goelet family
  • Party 2 L&L Holding Co., Lehman Brothers
  • Party 2 Brokerage CBRE
notes
The 85-year ground lease was sold. Price n/a.

03/18/2016
The largest lease was the hedge fund Citadel Investment Group, represented by CBRE, which inked a 211,400-square-foot lease at L&L Holding’s 425 Park Avenue in Manhattan’s Plaza District...

12/29/2015
New York City's most lucrative office leasing deals of 2015 (Click to expand) Step into my (very pricey) office. The 10 most lucrative New York City office leases signed New York City's most lucrative office leasing deals of 2015 (Click to expand) Step into my (very pricey) office. The 10 most lucrative New York City office leases signed...

10/22/2015
L&L's 425 Park Avenue site â€' slated to become a 42-story, 650,000-square-foot Norman Foster-designed office tower â€' is just the beginning...

05/01/2013
Barron said Keller Williams NYC also hopes to open four more offices across the city â€' on the Upper East and Upper West sides and two Downtown â€' in the next three years. The firm currently has one office, at 425 Park Avenue...

01/01/2013
Kaye Scholer will move from L&L Holdings’ 425 Park Avenue...

06/01/2012
Keller Williams NYC recently launched a rental division, and in December opened a 25,000-square-foot flagship office at 425 Park Avenue, which Bracha said he intends to expand by 10,000 square feet...