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 an opportunity for a “special” subtenant to share the private building entrance and private elevators with Winton as we are in the process of marketing the entire 19th floor for sublease through July of 2027, allowing a company to plant its flag in the heart of Midtown South for the next 8 years. An incoming subtenant can potentially have branding and signage in the private entrance on Park Avenue South, which is extremely rare for a tenant of this size. With no expense spared, the floor was built with a primarily open layout including a reception area, chef’s pantry, cafe, brand-new building standard bathrooms, two additional private restrooms with showers, a locker room and a large IT room with supplemental cooling. The floor features extra-high ceilings and over-sized windows. Undoubtedly the best floor in the neighborhood…it will likely not be on the market for long.
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