In 2022 SL Inexperienced paid $1.8 billion for the 45-story high-rise. Picture courtesy of CommercialEdge
SL Inexperienced Realty Corp. has inked a 76,716-square-foot lease at 245 Park Ave., a 1.8 million-square-foot workplace tower in Manhattan. Funding agency Stonepeak Companions will occupy the thirty first and thirty second flooring of the property for 15 years. CBRE represented the tenant, whereas Cushman & Wakefield negotiated for the owner.
Up to now this yr, SL Inexperienced inked leases amounting to virtually 200,000 sq. ft on the property. The corporate acquired the constructing in 2022 for $1.8 billion from HNA Group, CommercialEdge information reveals. At present, the tower is topic to a $1.2 billion mortgage from Wilmington Belief, originated by JPMorgan Chase. Earlier this yr, the agency offered a 49.9 % stake in 245 Park Ave. to Mori Belief Co., a Tokyo-based developer and investor.
The CBRE staff representing the tenant included Vice Chairmen Silvio Petriello and Ben Friedland, together with Affiliate Tamika Kramer. The Cushman & Wakefield staff working for the owner included Government Vice Chairs Patrick Murphy and Tara Stacom, Chairman Bruce Mosler, Government Managing Director Harry Blair, Vice Chair Ron LoRusso, Government Director Justin Royce and Director Will Yeatman.
The information comes on the heels of PJT Companions signing a 269,905-square-foot lease at 280 Park Ave., additionally owned by SL Inexperienced.
Bringing the workplace tower up-to-date
Courting again to 1966, the constructing was fully renovated in 2000 and underwent beauty enhancements in 2006. At present, the 45-story tower is present process a design redevelopment that features new exterior home windows and retail storefronts, a brand new terracotta facade, a brand new foyer and a 17,000-square-foot wellness middle with golf lounge. As well as, the property will function a plaza-level, 10,000-square foot high-quality eating restaurant and a rooftop restaurant. Kohn Pederson Fox will oversee the renovations.
The Class A constructing options floorplates various between 37,000 and 79,508 sq. ft, in addition to 30 passenger elevators. As well as, the property contains 68,000 sq. ft of first-level retail house. Situated at 245 Park Ave., the tower is lower than a mile from the Empire State Constructing and the Rockefeller Heart. Decrease Manhattan is 2.8 miles away, whereas John F. Kennedy Worldwide Airport is a few 14 miles northeast.
