|Address:||120 East 56th Street||Class:||B|
|Cross Streets:||Park Avenue & Lexington Avenue||Size:||86,000 SF|
|Year built:||1926||Architect:||Rosario Candela|
The office building rising at 120 East 56th Street in Midtown Manhattan was completed in 1926, with a design by Rosario Candela. It is owned and managed by First Pioneer Properties, and offers Class B office space in a prime location in the prestigious Plaza District. The property offers various amenities that make it an ideal fit for both small startups and larger tenants looking for full-floor options.
86 KSF of Class B Plaza District Office Space
The property at 120 East 56th Street, also known as Park56, offers roughly 86,000 square feet of Class B Plaza District office space. The 16-story building is owned and managed by First Pioneer Properties, and includes roughly 11,000 square feet of ground-floor retail space. Spaces range from 500 to full floors of 6,000 square feet, and features renovated common spaces like hallways and bathrooms. Amenities include a renovated lobby, concierge service, direct electric service, operable windows, usable terraces, and 24/7 access. The full-service rent includes HVAC, heat, water, janitorial services, lobby guard, sprinklers, and two modernized elevators.
Getting to and from 120 East 56th Street
Park56 at 120 East 56th Street benefits from an excellent location in the prestigious Plaza District, adjacent to the city’s new premier office tower, 425 Park Avenue. Those working at Park56 have easy access to a plethora of shopping and dining destinations nearby, as well as public transportation. The 59th Street-Lexington Avenue station is nearby, serving the N, R, and W lines. The Fifth Avenue-53rd Street and Lexington Avenue-53rd Street stations are also close by.
Who is renting office space at 120 East 56th Street?
The office building at 120 East 56th Street houses various tenants in industries like healthcare and wellness, fashion, and financial services. Notable tenants occupying office space at the building include Balance in Motion Physical Therapy, Park 56 Dental, Blitzer, Clancy & Company, Pomellato, Truman Gentlemen’s Groomers, and Montebello Ristorante Italiano.
How much is the rent price for office space at 120 East 56th Street?
Office asking rents in the Plaza District are not for the faint of heart, especially when it comes to Class A spaces. Rents can often surpass $90 or even $100 for state-of-the-art space in this submarket, which makes it ideal for large corporations and institutions. Class B assets such as Park 56 offer a good alternative, boasting significantly lower rents but offering all the modern features and amenities tenants look for in Manhattan. Rents at 120 East 56th Street start around $60 per square foot.
Image via Google Street View