245 Park Avenue

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search

Template:Use mdy dates Template:Short description Script error: No such module "Infobox".Template:Template otherScript error: No such module "Check for unknown parameters". 245 Park Avenue is a Script error: No such module "convert". skyscraper in Midtown Manhattan, New York City. Designed by Shreve, Lamb and Harmon, it was completed in 1967 and contains Script error: No such module "convert". on 48 floors. The Building Owners and Managers Association awarded the 2000/2001 Pinnacle Award to 245 Park Avenue.[1] The building is assigned its own ZIP Code, 10167; it was one of 41 buildings in Manhattan that had their own ZIP Codes since 2019Template:Dated maintenance category (articles)Script error: No such module "Check for unknown parameters"..[2]

History

The site used to be occupied by the second Grand Central Palace exhibition hall, which was demolished in 1964 to make way for 245 Park Avenue.[3] The building was previously named for American Tobacco Company, American Brands, and Bear Stearns at various points in its history.

In 1987, Bear Stearns signed a lease for more than Script error: No such module "convert". of space as its new headquarters and moved 3,000 of the company's employees into the building.[4]

In November 2000, JPMorgan Chase leased Script error: No such module "convert". in the building, creating a corporate campus with the company's nearby headquarters at 270 Park Avenue.[5]

On March 20, 2017, Chinese conglomerate HNA Group announced a deal to acquire the building for $2.21 billion from Brookfield Property Partners and the New York State Teachers’ Retirement System, one of the highest prices ever paid for a New York skyscraper.[6] HNA financed the acquisition with a $1.75 billion loan from a consortium of lenders including J.P. Morgan Chase, Deutsche Bank, Barclays, Natixis and Societe Generale in addition to $568 million of mezzanine financing.[7] CBRE Group and Cooper-Horowitz made the deal for the loan, acting as commercial mortgage brokers.[8]

Following financial difficulties at HNA in 2018, the conglomerate committed to selling off $22 billion in stocks and real estate assets. Part of this commitment included the sale of a $148 million stake in 245 Park Avenue to office REIT SL Green, which was also appointed as property manager and leasing manager.[9] SL Green took over the entire property in late 2022 after HNA went bankrupt.[10][11] The next year, Japanese developer Mori Trust agreed to buy a 49.9% interest in the building from SL Green.[12][13] By mid-2024, the owners were renovating the building and adding a golf lounge, restaurant, wellness center, and communal rooftop space;[14] this renovation was designed by Kohn Pedersen Fox and Fogarty Finger.[15] At the time, the building's mortgage was classified as a "loan of concern" because two large tenants were moving out.[16] SL Green also announced plans to renovate the building's plaza in late 2024.[15][17]

Tenants

  • Ares Management, Script error: No such module "convert". on floors 42-44
  • HNA Group, Script error: No such module "convert". on floor 40
  • Houlihan Lokey, Script error: No such module "convert". on floors 17, 19-20 & 32
  • IWG, Script error: No such module "convert". on floor 39
  • JLL, Script error: No such module "convert". on floor 16
  • JPMorgan Chase, Script error: No such module "convert". on floors 2 & 16
  • National Australia Bank, Script error: No such module "convert". on floor 28
  • Norinchukin Bank, Script error: No such module "convert". on floor 21
  • Pioneer Financial, Script error: No such module "convert". on floor 17
  • Rabobank, Script error: No such module "convert". on floors 36-38
  • SEB, Script error: No such module "convert". on floor 33
  • Societe Generale, Script error: No such module "convert". on floors 3-14
  • MIO Partners on floor 13
  • TPG Angelo Gordon, Script error: No such module "convert". on floors 24-26
  • Vestar Capital Partners, Script error: No such module "convert". on floor 41
  • WisdomTree Investments, Script error: No such module "convert". on floor 35
  • Woori Bank, Script error: No such module "convert". on floor 43

[18]

See also

References

<templatestyles src="Reflist/styles.css" />

  1. ↑ Script error: No such module "citation/CS1".
  2. ↑ Script error: No such module "citation/CS1".
  3. ↑ Script error: No such module "citation/CS1".
  4. ↑ Script error: No such module "citation/CS1".
  5. ↑ Script error: No such module "citation/CS1".
  6. ↑ Script error: No such module "citation/CS1".
  7. ↑ Script error: No such module "citation/CS1".
  8. ↑ Script error: No such module "citation/CS1".
  9. ↑ Script error: No such module "citation/CS1".
  10. ↑ Script error: No such module "citation/CS1".
  11. ↑ Script error: No such module "citation/CS1".
  12. ↑ Script error: No such module "citation/CS1".
  13. ↑ Script error: No such module "citation/CS1".
  14. ↑ Script error: No such module "citation/CS1".
  15. ↑ a b Script error: No such module "citation/CS1".
  16. ↑ Script error: No such module "citation/CS1".
  17. ↑ Script error: No such module "citation/CS1".
  18. ↑ Script error: No such module "citation/CS1".

Script error: No such module "Check for unknown parameters".

External links

Template:North Midtown Manhattan Template:Park Avenue Script error: No such module "Navbox".

Retrieved from "http://debianws.lexgopc.com/wiki143/index.php?title=245_Park_Avenue&oldid=6826495"