245 Park Avenue
| 245 Park Avenue | |
|---|---|
Shreve, Lamb and Harmon | |
| Developer | Uris Buildings Corporation |
245 Park Avenue is a 648-ft (198 m)
Shreve, Lamb and Harmon designed the structure, which is the 94th-tallest building in New York. The Building Owners and Managers Association awarded the 2000/2001 Pinnacle Award to 245 Park Avenue.[3] The building is assigned its own ZIP Code, 10167; it was one of 41 buildings in Manhattan that had their own ZIP Codes as of 2019[update].[4]
History
The site used to be occupied by the second
American Brands, and Bear Stearns
at various points in its history.
In 1987, Bear Stearns signed a lease for more than 500,000 square feet (46,000 m2) of space as its new headquarters and moved 3,000 of the company's employees into the building.[6]
In November 2000, JPMorgan Chase leased 580,000 square feet (54,000 m2) in the building, creating a corporate campus with the company's nearby headquarters at 270 Park Avenue.[7]
On March 20, 2017, Chinese conglomerate
Societe Generale in addition to $568 million of mezzanine financing.[9] CBRE Group and Cooper-Horowitz made the deal for the loan, acting as commercial mortgage brokers.[10]
Following financial difficulties at HNA in 2018, the conglomerate committed to selling off $22 billion in stocks and real estate assets. Part of this commitment included the sale of a $148 million stake in 245 Park Avenue to office REIT
SL Green, which was also appointed as property manager and leasing manager.[11]
Tenants
- Ares Management, 98,095 square feet (9,113.3 m2) on floors 42-44
- HNA Group, 38,383 square feet (3,565.9 m2) on floor 40
- Houlihan Lokey, 115,396 square feet (10,720.6 m2) on floors 17, 19-20 & 32
- IWG, 38,382 square feet (3,565.8 m2) on floor 39
- JLL, 15,939 square feet (1,480.8 m2) on floor 16
- JPMorgan Chase, 90,708 square feet (8,427.0 m2) on floors 2 & 16
- National Australia Bank, 37,385 square feet (3,473.2 m2) on floor 28
- Norinchukin Bank, 36,346 square feet (3,376.7 m2) on floor 21
- Pioneer Financial, 14,252 square feet (1,324.1 m2) on floor 17
- Rabobank, 115,157 square feet (10,698.4 m2) on floors 36-38
- SEB, 20,695 square feet (1,922.6 m2) on floor 33
- Societe Generale, 593,344 square feet (55,123.5 m2) on floors 3-14
- MIO Partners on floor 13
- TPG Angelo Gordon, 113,405 square feet (10,535.7 m2) on floors 24-26
- Vestar Capital Partners, 22,502 square feet (2,090.5 m2) on floor 41
- WisdomTree Investments, 37,923 square feet (3,523.2 m2) on floor 35
- Woori Bank, 14,320 square feet (1,330 m2) on floor 43
See also
References
- ^ "245 Park Avenue". Brookfield Office Properties. Retrieved March 16, 2015.
- ^ "SL Green takes over 245 Park Avenue". The Real Deal. September 12, 2022.
- ^ "245 Park Avenue". Emporis.com. Archived from the original on October 21, 2012. Retrieved July 22, 2012.
- ^ Brown, Nicole (March 18, 2019). "Why do some buildings have their own ZIP codes? NYCurious". amNewYork. Retrieved July 8, 2022.
- ^ Dunlap, David W. (December 18, 2012). "When Trade Shows Were Both Central and Grand". The New York Times. Retrieved June 26, 2013.
- ^ "New Headquarters for Bear Sterns". The New York Times. March 10, 1987.
- ^ Bagli, Charles V. (November 30, 2000). "Firms in Bidding War for Midtown Space". The New York Times.
- ^ Levitt, David M. (March 20, 2017). "China's HNA Is Buying a NYC Office Tower for $2.21 Billion". Bloomberg.com. Retrieved March 21, 2017.
- ^ "HNA scores $1.75B loan for 245 Park buy". The Real Deal. April 12, 2017.
- ^ Putzier, Konrad (May 1, 2018). "Sizing up NYC's debt brokerage powerhouses". The Real Deal. Retrieved October 6, 2021.
- ^ "SL Green invests $148M for stake in HNA's 245 Park Avenue". The Real Deal. November 30, 2018.
- ^ "UBS 2017-C3 Structural & Collateral Term Sheet". SEC. August 7, 2017. Retrieved August 4, 2019.
