Brand New Sublease in Plaza District – Perfect for a Hedge Fund or Private Equity Firm
280 Park Avenue is arguably one of the hottest buildings in the Plaza District. Back in 2014, it underwent a $150 million capital improvement program where SL Green and Vornado Realty Trust renovated the lobby, upgraded the elevators, and enhanced the building systems. Over the last few years, the asset has attracted tenants like PJT Partners, Blue Mountain Capital, and Thayer Street Partners. It caters extremely well to tenants of all sizes as the base of the building has floor plates measuring roughly 50,000 square feet, the east building 9,000 square feet and the west building, 20,000 square feet. As a result, the building is nearly 100% leased and has tenants competing for space whenever available. Ruton Capital Management recently took the entire 20th floor in the east building and have just put their space on the market for sublease.
Measuring 8,918 rentable square feet, this is a unique opportunity for a hedge fund, private equity shop, or boutique financial services firm to occupy a full floor with such a small footprint. Available for occupancy in January of 2018, this sublease term extends through August of 2027. The east building is the premier side of the asset as you get windows on 3 sides with great light and views of Park Avenue. SL Green and Vornado recently completed this floor with an above standard installation. It is currently built with a mixture of perimeter offices and open area (click here to see floor plan). The workspace is fully furnished and wired, ready for an incoming subtenant to plug and play. This is a great opportunity to occupy a full floor in a trophy asset on Park Avenue that has virtually no space available.
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