NEW YORK | 245 Park Avenue | Renovation

[Amanita]

A whole reclad would be pretty sweet, those renderings are nice!

[NYguy]

Taken last week…

[NYguy]

[JMKeynes]

The new base is very nice, and the new landscaping in the plaza looks great, but it's a shame that the heinous facade isn't being replaced. I suspect that SLG will redevelop this tower in 25 years and doesn't want to sink too much money into it, but it's still lame that we have to live with this ugly facade for decades.

[NYguy]

https://www.instagram.com/p/CtZR1bdxmVY/

[NewYorkCity76]

https://finance.yahoo.com/news/sl-gr...113000524.html

[pico44]

This building is a pig and they’re putting a swipe of lipstick on the lower lip.

[DalronJ]

I'm curious as a Chicagoan how does this building & NYC overall come with parking podiums or underground garages in your developments. It feels I never see any parking details in Manhattan developments. Is parking a normalcy in your projects or does the city push for public transit usage?

[skunkachunks1]

Originally Posted by DalronJ

I'm curious as a Chicagoan how does this building & NYC overall come with parking podiums or underground garages in your developments. It feels I never see any parking details in Manhattan developments. Is parking a normalcy in your projects or does the city push for public transit usage?

Parking is not a normalcy. When a new project is built nobody is asking if there is enough parking for it. People definitely are concerned if they think it'll put too much strain on a subway line (whether justified or not). For example, East Side Access + 1 Vanderbilt's subway station enhancements were part of the wider plan to accommodate the upzoning on Park Ave, which would bring in a lot more commuter traffic to the area.

As to your last part, the city doesn't need to push for the public transit usage. It's just a way of life. In Manhattan and a lot of neighborhoods in Brooklyn and Queens, it's kind of assumed you don't have a car when making plans. I suppose the city supports that by making policies like the new congestion pricing that further makes NYC less pleasant for drivers and more pleasant for the pedestrians, transit users, etc. that make up a lion's share of the population in places like Manhattan.

[NYguy]

AUGUST 11, 2023

[NYguy]

[NYguy]

[NYguy]

I see that, like 280 Park Ave, they have filed for an outdoor cafe on the Lexington Avenue side of this tower. The outdoor cafes at 280 Park will be in the plaza areas on the north and south sides of that building. The area is becoming more lively.

[NYguy]

https://nypost.com/2024/07/07/busine...ajor-upgrades/

Park Avenue office tower lures another tenant amid major upgrades


By Steve Cuozzo
July 7, 2024

Park Avenue’s leasing boom shows no sign of abating.

In the latest large transaction, Tradeweb Markets signed for 76,000 square feet on two full floors at SL Green’s 245 Park. The firm, which operates electronic platforms for rates, credit, equities and money markets, will move from Silverstein’s 1177 Sixth Ave.

The asking rent was $145 per square foot at 245 Park, which is 87% leased.

Stonepeak Partners and Swedish private equity firm EQT Partners also recently joined the tenant roster.

The tower is undergoing a major redevelopment overseen by design firm KPF that includes a terra cotta overclad of the facade, new windows and lobby, a 17,000 square-foot wellness center and a 10,000 square-foot restaurant.