Columbia Property Trust purchased 315 Park Avenue South from Spear Street Capital for $353.9 million in 2015. Their plan, which was executed remarkably well, was to reinvent the lobby and revitalize the facade, a project that cost in excess of $10 million. With multiple elevator banks and two building entrances, Columbia took the opportunity to separate the lobby and create a primary entrance to the building on 24th Street and a smaller, exclusive entrance on Park Avenue South for a “special” tenant. That “special” tenant, leasing the top two floors was London-based investment firm Winton Capital.
Currently, there is a unique building-within-a-building sublease opportunity at 315 Park Avenue South. An incoming subtenant can make use of the private building entrance and private elevators as we are now marketing the entire 19th and 20th floors for sublease through July of 2027, allowing a company to plant its flag in the heart of Midtown South for the next 8 years. There will be ample branding and signage in the private entrance on Park Avenue South, which is extremely rare for a tenant of this size. The 20th floor contains skylights, extra high ceilings and is currently built with a reception area, executive board room, 3 conference rooms, 3 offices, a telepresence room, small wet pantry and open area for 37 workstations (with room to densify). All of the existing furniture and infrastructure here can be made available. The 19th floor is currently built with a primarily open layout including a chef’s pantry, cafe, brand-new building standard bathrooms, 2 additional private restrooms with showers, a locker room and a large IT room with supplemental cooling. Both floors are built to an extremely high standard with no expense spared. These are undoubtedly the best floors in the neighborhood and will become an unmatched HQ office for a special subtenant.
Trophy Penthouse Opportunity in the Plaza District –
By Lance Leighton | November 08, 2016
Tishman Speyer Developing an Incredible +/- 21,000 sf Penthouse at 520 Madison Avenue There are a number of exciting new commercial developments across Manhattan. Downtown is seeing a resurrection from The…
Savills Studley | 399 Park Avenue | 11th Floor | New York, NY10022