|Address:||277 Park Avenue||Class:||A|
|Cross Streets:||47th & 48th Streets||Size:||1,850,000 SF|
|Year built:||1963||Architect:||Emery Roth & Sons|
The office tower rising at 277 Park Avenue in Midtown Manhattan was completed back in 1963, and it remains owned and managed by its original developer, Stahl Real Estate. The building was designed by renowned architects at Emery Roth & Sons, and was completely renovated in 2001. Its strategic location on Park Avenue and Lexington Avenue, coupled with its modern amenities, have made 277 Park an appealing destinations for office-using tenants. Various high-profile tenants call the building home, including Chase Bank and Visa.
1.8 MSF of Class A Midtown Office Space
277 Park Avenue incorporates roughly 1,850,000 square feet of Class A Park Avenue office space across 50 stories. The building underwent extensive, $135 million renovations in 2001, which brought upgrades to the passenger elevators, electric service systems and HVAC systems. Amenities include on-site, 24/7 security, messenger center, cafeteria and health club, a 40-car parking garage, CCTV surveillance, two separate building entrances on Park and Lexington avenues, and access to The Manhattan Athletic Club. Floor plates offer roughly 24,618 square feet of office space.
Getting to and from 277 Park Avenue
277 Park Avenue is conveniently situated between 47th and 48th streets, within walking distance to Grand Central Terminal or Rockefeller Center. Those working in the building have easy access to the Lexington Avenue subway station, which serves the 4, 5, 6, S, and Metro North trains.
Who is renting office space at 277 Park Avenue?
Given its strategic location in the heart of the Plaza District, Manhattan’s main financial services business district, 277 Park Avenue has managed to attract high-profile clients in banking and finance. Notable tenants include Chase Bank, Stifel, CCMP Capital Advisors, Visa, Highstar Capital, Bank of China, Bank of India, Sumitomo Mitsui Banking Corp., and Nippon Life Insurance. Previous tenants in the building have included Penthouse Magazine and Schlumberger, Donaldson, Lufkin & Jenrette.
How much is the rent price for office space at 277 Park Avenue?
Office asking rents at 277 Park Avenue tend to be on a par with the average commanded in Midtown Manhattan, which hovers in the high $80s per square foot. The Park Avenue corridor is one of the priciest and most prestigious business districts in the world, so office rents tend to come at a premium here.