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Thread: 125 Park Avenue

  1. #1

    Default 125 Park Avenue

    125 Park Avenue
    584,000 sf
    26 Floors
    585,000 sf

    Shorenstein Properties
    bought the building in 2004 for $225 Million

    the property began a $4 million renovation to the lobby, main entrance, and elevators. The renovation will be completed in May of 2007 and will offer tenants the distinguished exterior of an ornate, pre-war building coupled with the conveniences of a modern, efficient interior.
    Haworth, one of the world's largest designers and manufacturers of workspaces and furniture, will establish a prominent Midtown showroom and office presence. The Michigan-based company has leased 31,000 s/f on the second floor of 125 Park Avenue.
    Haworth will occupy the former premises of the Manhattan Satellite Airline Terminal situated at the intersection of 42nd Street and Park Avenue, directly opposite Grand Central Terminal. Haworth will transform the old terminal space by integrating the world's best ideas in sustainable design and adaptable workspace. Studley's Marc Shapses, senior managing director, together with Jason Schwartzenberg, assistant director, represented the tenant in the new lease deal that will relocate Haworth from Chelsea to Midtown.
    "Haworth wanted to be in Midtown, situated in close proximity to its global clients," said Shapses. "This prominent corner space at 125 Park Avenue, with 30-foot ceilings and windows overlooking one of the Manhattan's business thoroughfares, is ideally suited to showcase Haworth's wide-ranging products."

    Manhattan's Satellite Airline Terminal is flying the coop.
    Before the Internet - people went to airline offices to buy tickets. Now that many fewer do, it's not surprising that the Satellite facility will soon leave its longtime home at 125 Park Ave. at 42nd Street.
    Next summer its 31,000 square feet overlooking the busy corner will welcome furniture and workspace manufacturer Haworth, which will move its showroom from 625 Sixth Ave.
    Haworth was represented by Studley's Marc Shapses and Jason Schwartzenberg.
    Landlord Shorenstein was repped by Newmark's Steve Schofel and Josh Gosin. Schofel said the space, with 30-foot high ceilings and arched windows, "will be a great marketing venue" for Haworth. There's no word on the airlines' next move

  2. #2

    Default

    the building is %100 leased.

    i was just wondering in an old news article from 1999 the building was
    "528,849 sf"
    and on the buildings web site its "583,801 sf"
    and on CoStar "603,433 sf" ???
    on the states web site the building is listed as 518,500 sf
    so were did the all extro 50,000 to 75,000 sf come from ??

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