400 Park Avenue
400 Park Avenue / New York City
400 Park Avenue is located on Park Avenue and East 54th Street, one of Manhattan’s most prestigious office locations. Shortly after acquiring the leasehold interest on the property, the Company executed on a highly successful redevelopment of the building which included replacement of all exterior glazing and windows, a full replacement of all HVAC systems and elevators and installation of new telecommunications and electrical infrastructure. New security systems and building management systems (BMS) were also installed along with a rotating photography program in the building lobby. All interior spaces were redesigned which resulted in re-leasing the building to 95% occupancy to some of New York’s most notable private equity firms, international banks, and private family foundations and investment firms.
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New York, NY
- Building has been totally redeveloped, is 96% leased, and positioned for future development of a new, and larger building under the Midtown East Rezoning program which was enacted into law in 2017.
- Company has successfully executed on a five-point business plan:
- Remove bankrupt retailer, SYMS, from bottom six floors.
- Restructure/Expand/Offer City National Bank identity and first retail branch in NYC to re-define building.
- Restructure of ground lease to provide for a 75 year+ extension.
- Extensive capital improvement program.