Founder – HedgeFundSpaces.com
New York State Licensed Real Estate Salesperson
For years, 400 Park Avenue has been home to the King of Schlocky Store’s, Syms. Since their departure last year, Tod Waterman has valiantly repositioned his asset into a respectable building for hedge funds and boutique financial services firms. His most recent achievement for the building includes the renewal and expansion of Los Angeles- based City National Bank (CNB)- including a retail component. The bank has plans to create a dramatic 2-story entrance for their retail unit, which will undoubtedly create a better vibe than Sym’s did.
Since Sym’s departure, Waterman has had success leasing space to other financial firms as well. Fieldpoint Private Bank & Trust inked a deal for about 11,000 square feet in Q1 2012. Asking rents for the building are quite competitive for Park Avenue, ranging in the high-$60’s to mid-$80’s per square foot. Additionally, the landlord will build-to-suit an incoming tenant’s needs using very high-end materials (renderings and typical building finishes below).
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