NEW YORK | 175 Park Avenue (Grand Hyatt) | 1,581 FT | 92 FLOORS

[ssh]

Originally Posted by NYguy

More talk of a tenant…

https://www.linkedin.com/posts/billmonta...womens-activity-7383937457173499905-hYo8

BlackRock doesn't make sense...but that's just this individual speculating I guess.

[NYguy]

Originally Posted by ssh

BlackRock doesn't make sense...but that's just this individual speculating I guess.

A lot of tenants in the market, though he may have meant Blackstone which just renewed at 345 Park last year - through 2034, which would make them a good fit for 175 Park. Considering what happened there this year, it wouldn't shock me if they wanted a new start.


https://www.bloomberg.com/news/articles/...o-expand-nyc-office-space-on-park-avenue

Blackstone Nears Deal to Expand NYC Office Space on Park Avenue


By Natalie Wong
June 12, 2024

The money manager’s total leased space would increase to 1.06 million square feet (98,500 square meters) at Rudin’s 345 Park Ave., according to a person familiar with the matter. The deal would also extend Blackstone’s lease at the skyscraper through the end of 2034....

But I would just be glad to see the tower moving forward, regardless of who signs for space there. If they were in fact planning a ground-breaking, it would be a symbolic one. We've seen many of those. There have been no filings with the DOB, demo or otherwise. But when they do get down to action, it will be right from the start...

[NYguy]

Looking forward, we could have 350 and 175 Park moving up at the same time as we have 625 and 655 Madison, as well as Extell's ABC site tower, possibly the Roosevelt Hotel site, to name a few. The next 5 years are going to be insane for skyscraper lovers in the city and beyond.

[ssh]

Originally Posted by NYguy

Looking forward, we could have 350 and 175 Park moving up at the same time as we have 625 and 655 Madison, as well as Extell's ABC site tower, possibly the Roosevelt Hotel site, to name a few. The next 5 years are going to be insane for skyscraper lovers in the city and beyond.

I was just thinking about this. All of these towers seem to be converging towards a '26-'27 start, and there will inevitably be more that could begin in this time frame like HY2, 41 W 57th, Park Lane Hotel, etc.

It'll be like the 2010s all over again.

[Busy Bee]

Just hoping they can all get funded and out of the ground before the impending stock market crash.

[mrnyc]

dubious hy2 is happening anytime soon, but individual building lots are a much different story.

[NYguy]

Originally Posted by ssh

I was just thinking about this. All of these towers seem to be converging towards a '26-'27 start, and there will inevitably be more that could begin in this time frame like HY2, 41 W 57th, Park Lane Hotel, etc.

It'll be like the 2010s all over again.

Originally Posted by mrnyc

dubious hy2 is happening anytime soon, but individual building lots are a much different story.

175 Park, and 350 Park seem well on track to action in 2026, as well as the next 3 tallest residential towers (625, 655, ABC site), and that’s just on what we know. Related will likely nail down an anchor for it’s HY office tower, now that the platform issue is out of the way. Vornado is finally having serious talks at 15 Penn. Silverstein is as near as ever with 2 WTC. There are the various developments on 57th that have no timetable yet. LIC has been rezoned to give Queens it’s first ever possible supertalls. There will be a lot to look forward to. But coming in hot will be 175 & 350 Park, 625 & 655 Madison, and the ABC site. Just one of those would be excitement enough in the new year.

[NYguy]

Federal Environmental Review underway...


1



2



3







4



5



6




7



8



9



10



11



12



13



14



15



16



17



18

[Zapatan]

Originally Posted by mrnyc

dubious hy2 is happening anytime soon, but individual building lots are a much different story.

Depends on which ones, I think 350 has a chance since it has a tenant but won't get too excited until I start seeing steel.

175 is insanely expensive, NYC is a special case in the Western world obviously but even still, despite all of the confidence surrounding the project and the countless renders I'm not holding my breath yet.

I don't see 2WTC happening soon but maybe in 20 or so years.

[NYguy]

Originally Posted by Zapatan

Depends on which ones, I think 350 has a chance since it has a tenant but won't get too excited until I start seeing steel.

175 is insanely expensive, NYC is a special case in the Western world obviously but even still, despite all of the confidence surrounding the project and the countless renders I'm not holding my breath yet.

I don't see 2WTC happening soon but maybe in 20 or so years.

Uninformed as ever, even when it’s spoonfed to you. You may not hold your breath, but perhaps you should refrain from posting.

[mrnyc]

Originally Posted by Zapatan

Depends on which ones, I think 350 has a chance since it has a tenant but won't get too excited until I start seeing steel.

175 is insanely expensive, NYC is a special case in the Western world obviously but even still, despite all of the confidence surrounding the project and the countless renders I'm not holding my breath yet.

I don't see 2WTC happening soon but maybe in 20 or so years.

naah.

don’t rope me into that.

no question 175 will happen sooner than later.

350 much sooner as citadel is already on board.

and even wtc2 has decently hopeful interest.

its just the western yards, not so much.

[NYguy]

Originally Posted by mrnyc

its just the western yards, not so much.

The western yards has been settled. There's a whole thread dedicated to it.

[NYguy]

https://nypost.com/2025/10/21/real-estate/why-new-nyc-office-towers-are-breaking-ground/

Not to be outdone, Scott Rechler’s RXR and TF Cornerstone are talking to anchor office tenants for their jumbo 2.9 million-square-foot tower at 175 Park Ave. Designed by Skidmore, Owings & Merrill, it would rise 1,575 feet above Grand Central Terminal and include a Hyatt hotel and transit improvements.

Vornado and Rudin are also in the game. They just got city approval to build a new 1.7 million-square-foot tower at 350 Park Ave. — with Citadel as partner and a 850,000-square-foot anchor space.

And Silverstein Properties is closing in on a deal with American Express to move from Brookfield Place to a new 2 World Trade Center, now likely to be around 2 million square feet.

[Crawford]

This just has to be the new Blackstone HQ. Blackstone recently reported record earnings, and needs new long-term space.

Hopefully we get some news by the holidays.

[BanBrokenChatBots]

This is a massive project they're certainly going to need a major financial tenant lined up like Blackstone with the Hyatt. Remember only 50% will be covered if approved by the federal funding so they're going to have to have some deep pockets. I hope this tower has a smoky gray glass like seen in the models instead of blue in the renderings.

[NYguy]

market/

Anchor Tenants Revive Manhattan Office Market
Anchor tenants are fueling Manhattan’s office rebound, locking in Class A leases early and driving rents to new highs.


October 29, 2025
By Valerija CRE Daily

Manhattan’s office market gains momentum as top firms pre-lease space in high-end towers years ahead, reports Commercial Observer. Developers from Hudson Yards to Fifth Avenue are moving forward with ambitious office projects. They’re backed by anchor tenants seeking premium space. In a competitive hiring and branding environment, top-tier offices have become a key differentiator.

In April, Deloitte inked a deal for 800K SF at 70 Hudson Yards—one of the largest leases in recent years. The building, developed by Related and Oxford Properties, isn’t expected to be completed until 2028. Similarly, Simpson Thacher took 700K SF at Extell’s 570 Fifth Avenue, and C.V. Starr signed on for 275K SF at BXP’s 343 Madison.

According to industry leaders, the shift is driven by firms in finance, law, and consulting prioritizing in-office collaboration and using high-quality real estate as a recruitment tool.

“These growth sectors believe the office experience is essential,” said CBRE’s Mary Ann Tighe. “They’re looking to upgrade, and that means new buildings and large footprints.”

New office towers are rising across Manhattan. Projects include RXR and TF Cornerstone’s 175 Park Avenue, Related’s 625 Madison, Silverstein’s 2 World Trade Center, and BXP’s 3 Hudson Boulevard. Each is competing for tenants in a tight top-tier market.

While new construction is underway, Manhattan’s total office inventory is shrinking. Between Q2 and Q3 of 2025, the city lost 16.7M SF of office space—mostly due to office-to-residential conversions, according to Savills.

The crunch is most evident at the top of the market. Vacancy rates for trophy buildings are down to just 7.6%, with Midtown trophy office rents hitting an average of $132.24 PSF. At iconic buildings like One Vanderbilt and the Seagram Building, rents are exceeding $200—and in some cases nearing $285 PSF.

As developments like 343 Madison, 175 Park Avenue, and 3 Hudson Boulevard push forward, expect more anchor deals to follow. But even with millions of SF on the way, demand may continue to outpace supply in Manhattan’s high-end office market.

“This is one of the strongest markets we’ve seen in years,” said JLL’s Paul Glickman. “But when the music stops, we may not have enough seats for everyone.”

[NYguy]

https://radiiinc.com/som-175-park-avenue

[Busy Bee]

That's about as good as they come folks.

That GCT and base model is glorious.

[NYguy]

Originally Posted by Busy Bee

That's about as good as they come folks.

That GCT and base model is glorious.

I wonder what will become of them when this is built. That full scale model might go in the tower, or the RXR offices somewhere.

[Zapatan]

Such a tease

This would be great with a twin as the massing reminds me a little of Petronas Towers