|Address:||315 Park Avenue South||Class:||A|
|Cross Streets:||Park Avenue South & Lexington Avenue||Size:||332,000 SF|
|Year built:||1911||Architect:||William C. Frohne|
The office landmark rising at 315 Park Avenue South in Midtown South was completed in 1911. It was designed in a Beaux-Arts style by William C. Frohne, who is also responsible for 693 Broadway in Soho and the Bohemian National Hall at 321 East 73rd Street.
The tower used to house the headquarters of Remington Rand, an American business machine manufacturer best known for their typewriters, electric razors, and the UNIVAC line of mainframe computers. The building was previously known as The Remington Rand Building because of its anchor tenant.
In 2015, as Credit Suisse was in the process of vacating the property, Columbia Property Trust paid $354 million to purchase 315 Park Avenue South. It immediately embarked on an extensive repositioning effort to bring the landmark building to modern standards. The tower houses several high-profile tenants in technology, media, and communications.
332 KSF of Class A Gramercy Park Office Space
The Remington Rand Building at 315 Park Avenue South offers 332,000 square feet of rentable office space in Gramercy Park. The 20-story building is owned by Columbia Property Trust and managed by L&L Holding Company. It also incorporates close to 55,000 square feet of premier retail space on the ground floors. The property was acquired by Columbia Property Trust in 2015 and underwent a massive renovation completed in 2019.
Nowadays, the building features a renovated lobby, new elevators and mechanical systems, a restored facade, as well as LEEd Gold, Energy Star, and WiredScore Platinum certifications. The boutique office property is ideal for creative tenants working in IT, media and communications, finance, or architecture and design.
Getting to and from 315 Park Avenue South
315 Park Avenue South benefits from an excellent location in the heart of Gramercy Park, close to a plethora of shopping, dining, and leisure destinations. Public transportation is easily accessible via the nearby 23rd Street and 28th Street subway stations, while Madison Square Park is just a short walk away.
Who is renting office space at 315 Park Avenue South?
Notable tenants at 315 Park Avenue South include Oracle, BDG Media, PitchBook, Fullscreen, and Gemini Trust. Retail tenants include Just Salad, Equinox, and one of the city’s first Amazon Go stores. The building’s unrivaled location, updated amenities, and state-of-the-art connectivity make it an ideal fit for creative office tenants looking for a prestigious business address.
How much is the rent price for office space at 315 Park Avenue South?
Office asking rents at 315 Park Avenue South hover around $90 per square foot, but a full-service lease can go above $100. However, build-outs and discounts can be negotiated with the tenant, Columbia Property Trust. The building’s modern features, energy efficiency, and top-class digital infrastructure make it a highly desirable destination for businesses of all sizes. Consequently, the building is more than 95% leased.
Image via Google Street View