|Address:||320 Park Avenue||Class:||A|
|Cross Streets:||50th & 51st Streets||Size:||730,000 SF|
|Year built:||1960||Architect:||Swanke Hayden Connell Architects, Emery Roth & Sons|
The office building at 320 Park Avenue in Midtown Manhattan was originally completed in the early 1960s with a design by Emery Roth & Sons. In 1992, Mutual of America paid $130 million to buy the then-empty office tower from Olympia & York. Then, in 1994, the building was stripped down to its core and rebuilt, in a redevelopment effort spearheaded by Swanke Hayden Connell Architects. It was the best option for Mutual, as the building was constructed before the 1961 Zoning Resolution in NYC. This means that it was significantly larger than new buildings developed in the area, so Mutual would get to keep that extra office space if it just redeveloped the existing property. Nowadays, the building is home to various high-profile office and retail tenants, and continues to house the Mutual of America headquarters.
730 KSF of Class A Plaza District Office Space
The Mutual of America Building offers 730,000 square feet of Class A Plaza District office space across 35 stories. It is currently owned by Mutual of America Life Insurance Company, and managed by JLL.
The LEED Gold-certified, International Style tower used to serve as the ITT Corporation World Headquarters, before the company moved out in 1990. In 1994, the building was extensively renovated, adding a new central building automation system, new HVAC, plumbing, electrical, fire and life safety systems. Amenities include a full-service concierge, a messenger center, generous amounts of natural light, and views of Park Avenue and Grand Central Terminal. Further features include tenant-controlled air conditioning and ventilation, 17 passenger elevators and 2 freight elevators, double-pane windows, and flexible floor plates.
Getting to and from 320 Park Avenue
The Mutual of America Building at 320 Park Avenue benefits from an excellent location in the heart of Midtown Manhattan and the prestigious Plaza District. Those working within the building have access to a plethora of high-end retail shops and dining venues in the area. Public transportation is also easily accessible, as the building is convenient to major subway lines, including the E, M, 4 and 6 trains.
Who is renting office space at 320 Park Avenue?
The office building at 320 Park Avenue is home to various high-profile office and retail tenants, including Mizuho Securities USA, Weiss, First Republic Bank, Bear Stearns, Standard Americas, Zephyr Management, DDR Corporation, and Chipotle Mexican Grill.
How much is the rent price for office space at 320 Park Avenue?
Office asking rents in the prestigious Plaza District of Midtown Manhattan tend to come at a premium, and the submarket is one of the priciest in NYC. Rents in this area can often command over $100 per square foot, and 320 Park Avenue is no exception. Asking rents tend to be close to $100 per square foot in the upper floors, and they start somewhere around $75 per square foot at the base of the tower.