Posted May 8, 2026, 9:42 PM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 56,762
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Quote:
The assemblage can support roughly 527,000 square feet of development as-of-right, or up to 700,000 square feet of rentable office space with additional air rights, according to marketing materials from Newmark, whose Adam Spies, Marcella Fasulo and Adam Doneger brokered the deal. CBRE’s Steve Siegel and a Fried Frank team advised on the air rights deal.
The developer is also in the process of acquiring the adjacent office building at 110 East 55th Street, according to sources. It’s unclear where those negotiations stand, though tenants in the building have been told to vacate by December, one source said. The property is owned by the Parkoff Organization. Adam Parkoff did not immediately respond to a request for comment.
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I'm sure this will be another spectacular development on prime Park Avenue space.
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“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
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