NEW YORK | 175 Park Avenue (Grand Hyatt) | 1,575 FT | 86 FLOORS

[MAC123]

Oh American Express? They're committed to downtown

[Hudson11]

Originally Posted by MAC123

Oh American Express? They're committed to downtown

Nope. We just know they're shopping around for 1M SF in NYC. That level of interest doesn't come around frequently and would not stay under wraps if we were talking about some other company. Keen deductive reasoning says we're not.

[NYguy]

Are you in talks with any potential tenants yet?

We are, and we don’t even deliver it until 2029! When you think about companies that want to be in New York or who are already here today and are looking for the home of their future, there’s been a lot of interest from those tenants in 175 — and we’re talking to some interested in taking 1 million-plus square feet. But I can’t say who they are, for now.

Given the timeframe, it could be anyone. This would be the trophy of trophy office towers in Manhattan. Not surprising at all, considering its location. Just look how quickly Vanderbilt filled up.

I am curious about SL Green’s casino plans in Times Square that would bump out Paramount Global, a 1.6 msf tenant. That’s more space than SL Green buiit in 1 Vanderbilt. Obviously this tower wouldn’t be on the table. But it’s like musical chairs, only with office space.

Anyway, I don’t care who fills it. As long as the design stays the same.

[MAC123]

True that ^

This is imo the best proposal in, well as long as I can remember. The only thing that could be better is the 500 M height.

[JMKeynes]

Originally Posted by MAC123

True that ^

This is imo the best proposal in, well as long as I can remember. The only thing that could be better is the 500 M height.

This building, like 270 Park and 1 Vandy, is an absolute gift to NY. What an icon!!

[Busy Bee]

I'm not at all interested in this potential tenant speculation subculture that exists here but I must say it would play nicely with GCT to see the American Express centurion man signage in or on the base of 175.

[NYguy]

Originally Posted by Busy Bee

I'm not at all interested in this potential tenant speculation subculture that exists here but I must say it would play nicely with GCT to see the American Express centurion man signage in or on the base of 175.

I don’t think that will be allowed. LPC would be up in arms. In the lobby maybe.

[MAC123]

I'd tend to agree with them. The building (besides the height cut) is amazing as is, I don't really want some random companies signs over this one.

[NYguy]

Doesn’t need a thing. Although I would like some gargoyles or eagles at the base of those stairs.

[JMKeynes]

ICON!!!!!

[Quision]

this thing is incomprehensibly huge. i love it

[JMKeynes]

Originally Posted by Quision

this thing is incomprehensibly huge. i love it

[Zapatan]

Originally Posted by Quision

this thing is incomprehensibly huge. i love it

Yea, the cars and people in that rendering look just minuscule compared to the base.

Epic...

[TonyNYC]

Originally Posted by jmkeynes

Beast of the East!!!

[JMKeynes]

Originally Posted by TonyNYC

Beast of the East!!!

Indeed!

[Quision]

Originally Posted by Zapatan

Yea, the cars and people in that rendering look just minuscule compared to the base.

Epic...

I have a hard time comprehending it. That lobby alone must be at least 100' high?

[NYguy]

[JMKeynes]

This tower is an absolute gift to NY. I thought that we’d get a lame, bulky, 1000’ box like 50 HY, and yet RXR is delivering what may be one of the ten most iconic supertall office buildings in the world.

[NYguy]

https://nypost.com/2022/10/29/why-ny...ice-space/amp/

Why NYC companies are betting on big office space


By Lois Weiss
October 29, 2022

Jumbo city tenants are looking far into the future and not the pandemic past by exploring options and committing to new spaces.

Inking deals at $200 per foot has become the old $100 per foot, while $300 per foot has been achieved at both One Vanderbilt and L+L Holding’s 425 Park Ave. which officially opens today.

According to Mitti Liebersohn, chairman of New York brokerage Savills, 16 deals over 100,000 square feet were closed in Q3 compared to 11 deals in Q2. With 25 million square feet signed already, 2022 will surpass last year’s 26 million square feet of leases.

Recent large commitments to new buildings include KPMG and D. E. Shaw which leased 456,000 square feet and 283,421 square feet, respectively, both at Brookfield’s upcoming Two Manhattan West.

Franklin Templeton inked a deal for 347,000 square feet on the high floors of SL Green Realty Corp.’s upcoming reinvention of One Madison Ave. at a reported $145 per square foot in a project that already snagged IBM for 328,000 square feet and Chelsea Piers Fitness for 56,000 square feet.

”About five years out there are several million-foot tenants that need to start talking about it now, and if the whole flight to quality theme continues, there won’t be a lot out there,” said Ted Koltis, EVP of Moinian Group.

To wit, on the east side of Grand Central Terminal, TF Cornerstone is planning a jumbo 2 million-square-foot tower at 175 Park Ave. with offices and a Hyatt brand hotel. Brokers say Blackstone is contemplating 1 million square feet of its glass and steel space.

Vornado’s buildings by Penn Station have been snagging tenants with 300,000 square feet leased at Penn 1 alone. Blue Cross Blue Shield has recently moved into its new 70,000 square feet of offices designed by Gensler.

Bloomberg has leases rolling in 2029 at its namesake tower at 731 Lexington Ave. and you can bet that owner, Steve Roth’s Vornado Realty Trust, is courting them for the replacement tower at the Hotel Pennsylvania, Penn 15.

Apple is also seeking 1 million square feet and as Vornado’s ever-growing tenant at Penn 11, is another candidate for Penn 15.

The lawyers of Freshfields Bruckhaus Deringer US will expand to 179,724 square feet at Silverstein Properties’ 3 World Trade Center and is one of several deals done at the WTC buildings.

[JMKeynes]

It’s interesting that Blackstone is considering 175 Park. This tower is beyond iconic.






The only supertall office towers that are better than this are the Burj, the Shanghai Tower, and the Petronas Tower.

The Tianjin and Shanghai financial center towers and 270 Park and 1 Vanderbilt are as good.