|Address:||245 Fifth Avenue||Class:||A|
|Cross Streets:||Fifth & Madison Avenues||Size:||315,000 SF|
|Year built:||1927||Architect:||George F. Pelham|
The landmark office tower rising at 245 Fifth Avenue in Midtown South was originally completed in 1927. It was designed by George F. Pelham, an acclaimed Ottawa-born architect responsible for numerous buildings on Manhattan’s Upper West Side. The building is owned by Thor Equities and features Class A office space in the heart of Manhattan, on one of the most prestigious streets in New York City. 245 Fifth Avenue was recently renovated and currently houses various tenants in diverse creative industries.
315 KSF of Class A Gramercy Park Office Space
The tower at 245 Fifth Avenue incorporates roughly 315,000 square feet of Class A Gramercy Park office space for lease. The 25-story building also features four-star retail space on the ground floor, with frontage on Fifth Avenue, one of Manhattan’s priciest and most prestigious locations.
Owned by Thor Equities and managed by The Moinian Group, 245 Fifth Avenue is a highly desirable destination for office tenants of all sizes. The building provides flexible floor plates, 24/7 video surveillance, daytime reception, high-end finishes, conference and meeting spaces, and a newly renovated, attended lobby with turnstile security card entry. In recent years, PKSB spearheaded a renovation of the building, which included modernizing the building’s Art Deco lobby and entrance hall, new stainless steel finishes, contemporary lighting, and restored terrazzo flooring and stonework.
Getting to and from 245 Fifth Avenue
The office tower at 245 Fifth Avenue is conveniently located on one of the busiest streets in New York City, providing access to numerous high-end shopping and dining destinations. The building lies close to world-class hotels and upscale restaurants, ideal for business lunches or meetings with clients. Madison Square Park is steps away, while two subway stations are easily accessible on 28th Street, serving the N, R, W, and 6 lines.
Who is renting office space at 245 Fifth Avenue?
245 Fifth Avenue is home to various high-profile tenants in diverse industries, from nutrition and healthcare to media and communications. Notable tenants include Elite Model Management, Mediterra, Reide Group, the Institute for Integrative Nutrition, the New York State Society for Clinical Social Work, Burns & McDonnell, and Payfone.
How much is the rent price for office space at 245 Fifth Avenue?
Office asking rents at 245 Fifth Avenue start at around $75 per square foot. However, prices can vary depending on the size, length, and terms of the lease. Rent deductions and build-outs can be negotiated with the landlord, and the building also provides opportunities for expansions down the line.
Image via Google Street View