Once the Home of Schlocky Sym’s, Waterman Has Succeeded in Transforming 400 Park Avenue.

June 19, 2012

Lance Leighton

Founder – HedgeFundSpaces.com
New York State Licensed Real Estate Salesperson

Call 516-557-1160

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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