|Address:||425 Lexington Avenue||Class:||A|
|Cross Streets:||43rd & 44th Streets||Size:||700,034 SF|
|Year built:||1987||Architect:||Helmut Jahn|
The office building at 425 Lexington Avenue in Midtown Manhattan was built in 1987, with a design by Helmut Jahn. The architect designed a Postmodern tower that is trapezoidal in plan and is clad in turquoise tinted glass that reflects the nearby Chrysler Building. It’s meant to represent a reinterpreted Classical column, as the top section of the tower angles out, incorporating within it a special conference area. The building is today home to office and retail tenants in a desirable and well-connected location.
700 KSF of Class A Midtown East Office Space
The building rising at 425 Lexington Avenue consists of 700,034 square feet of Class A Midtown East office space across 31 stories. It is owned and managed by Vanbarton Group, which acquired the tower from JPMorgan Asset Management in 2018 for $701 million, and boasts LEED Silver certification for its sustainable features. Amenities include on-site security, a 25-car private garage, a 30-foot outdoor plaza, and various retail options within the building.
Getting to and from 425 Lexington Avenue
The building at 425 Lexington Avenue is convenient to Grand Central Terminal, which provides out-of-town service through Amtrak and Metro North and subway service via the 4, 5, 6 and 7 trains. Those working within the building also have access to a plethora of dining, shopping and hotel options in the area.
Who is renting office space at 425 Lexington Avenue?
425 Lexington Avenue is home to several big-ticket office and retail tenants, including Simpson Thatcher, CIBC, Holwell Shuster & Goldberg, Bank of America, Pret A Manger, and Starbucks.
How much is the rent price for office space at 425 Lexington Avenue?
Office asking rents at 425 Lexington Avenue are roughly on par with the average commanded by Midtown Manhattan office assets, an average which hovers above $89 per square foot, according to CBRE. Class A assets close to Grand Central Station are highly sought-after by companies of all sizes, from startups to large corporations, so office rents tend to come at a premium in this area.