|Address:||250 West 34th Street||Class:||A|
|Cross Streets:||Size:||2,524,000 SF|
|Year built:||1972||Architect:||Kahn & Jacobs|
The glass-clad office tower rising at 250 West 34th Street in Midtown Manhattan was designed by Kahn & Jacobs and completed in 1972. The building, also known as One Penn Plaza, is the tallest structure in the mixed-use Pennsylvania Plaza complex located near Penn Station. The complex contains office buildings, hotels, as well as entertainment facilities. One Penn Plaza is home to various high-profile office and retail tenants and offers direct access to public transportation lines.
2.5 MSF of Class A Penn Station Office Space
One Penn Plaza provides 2,524,000 square feet of Class A Penn Station office space across 57 floors. The building is owned and managed by Vornado Realty Trust, which acquired it in 1998 for $410 million. One Penn Plaza boasts 14 entrances and 44 elevators in seven banks. It also incorporates an underground parking garage with 695 parking spaces, and direct passageways connecting tenants to the Long Island Rail Road concourse of Penn Station.
Other amenities at 250 West 34th Street include a public plaza and fountain on the west end of the building, spectacular views of Manhattan, 24/7 turnstile access and security, as well as LEED Gold and Energy Star certifications.
Getting to and from One Penn Plaza
One Penn Plaza is located adjacent to the busy Penn Station in Midtown Manhattan, which is accessible directly from the building via an underground passageway. Those working in the building thus have direct access to the Long Island Rail Road concourse, and they’re also within walking distance to Grand Central and the Port Authority.
Who is renting office space at One Penn Plaza?
One Penn Plaza is home to various high-profile office and retail tenants, operating in industries like financial services, healthcare, law, and communications. Office tenants at 250 West 34th Street include Cisco, Citigroup, Fortinet, MassMutual, Wells Fargo, Prudential, Mitsubishi Electric, Siemens, and Morgan Stanley. Retail tenants include Subway, Shake Shack, Pret A Manger, Swarovski, Duane Reade, Gourmet Bazaar, Lucy’s, and Rosa’s Pizza & Pasta.
How much is the rent price for office space at One Penn Plaza?
Office asking rents in Midtown Manhattan are some of the highest in New York City, and Class A properties like One Penn Plaza tend to command higher rents than Class B or C buildings. One Penn Plaza benefits from an excellent location near Penn Station, boasts state-of-the-art, energy-efficient amenities, and an impressive list of tenants. Consequently, office rents tend to be higher here, but they can be negotiated, depending on the size and terms of the lease.