NEW YORK | 245 Park Avenue | Renovation

[Amanita]

A whole reclad would be pretty sweet, those renderings are nice!

[NYguy]

Taken last week…

[NYguy]

[JMKeynes]

The new base is very nice, and the new landscaping in the plaza looks great, but it's a shame that the heinous facade isn't being replaced. I suspect that SLG will redevelop this tower in 25 years and doesn't want to sink too much money into it, but it's still lame that we have to live with this ugly facade for decades.

[NYguy]

https://www.instagram.com/p/CtZR1bdxmVY/

[NewYorkCity76]

https://finance.yahoo.com/news/sl-green-announces-sale-49-113000524.html

[pico44]

This building is a pig and they’re putting a swipe of lipstick on the lower lip.

[DalronJ]

I'm curious as a Chicagoan how does this building & NYC overall come with parking podiums or underground garages in your developments. It feels I never see any parking details in Manhattan developments. Is parking a normalcy in your projects or does the city push for public transit usage?

[skunkachunks1]

Originally Posted by DalronJ

I'm curious as a Chicagoan how does this building & NYC overall come with parking podiums or underground garages in your developments. It feels I never see any parking details in Manhattan developments. Is parking a normalcy in your projects or does the city push for public transit usage?

Parking is not a normalcy. When a new project is built nobody is asking if there is enough parking for it. People definitely are concerned if they think it'll put too much strain on a subway line (whether justified or not). For example, East Side Access + 1 Vanderbilt's subway station enhancements were part of the wider plan to accommodate the upzoning on Park Ave, which would bring in a lot more commuter traffic to the area.

As to your last part, the city doesn't need to push for the public transit usage. It's just a way of life. In Manhattan and a lot of neighborhoods in Brooklyn and Queens, it's kind of assumed you don't have a car when making plans. I suppose the city supports that by making policies like the new congestion pricing that further makes NYC less pleasant for drivers and more pleasant for the pedestrians, transit users, etc. that make up a lion's share of the population in places like Manhattan.

[NYguy]

AUGUST 11, 2023

[NYguy]

[NYguy]

[NYguy]

I see that, like 280 Park Ave, they have filed for an outdoor cafe on the Lexington Avenue side of this tower. The outdoor cafes at 280 Park will be in the plaza areas on the north and south sides of that building. The area is becoming more lively.

[NYguy]

https://nypost.com/2024/07/07/business/p...ures-another-tenant-amid-major-upgrades/

Park Avenue office tower lures another tenant amid major upgrades


By Steve Cuozzo
July 7, 2024

Park Avenue’s leasing boom shows no sign of abating.

In the latest large transaction, Tradeweb Markets signed for 76,000 square feet on two full floors at SL Green’s 245 Park. The firm, which operates electronic platforms for rates, credit, equities and money markets, will move from Silverstein’s 1177 Sixth Ave.

The asking rent was $145 per square foot at 245 Park, which is 87% leased.

Stonepeak Partners and Swedish private equity firm EQT Partners also recently joined the tenant roster.

The tower is undergoing a major redevelopment overseen by design firm KPF that includes a terra cotta overclad of the facade, new windows and lobby, a 17,000 square-foot wellness center and a 10,000 square-foot restaurant.

[NewYorkCity76]

https://www.newyorkyimby.com/2025/05/245...-cladding-in-midtown-east-manhattan.html

Renovation work is ramping up on 245 Park Avenue, a 48-story commercial skyscraper in Midtown East, Manhattan. Designed by Kohn Pedersen Fox and developed by SL Green, the project will overhaul much of the structure’s interiors, replace a portion of the podium’s mid-century façade with a modern envelope, and add a new roof terrace to the parapet. The building was originally designed by Shreve Lamb & Harmon Associated and opened in 1967, and yields 1,754,500 square feet of office space. The property occupies a 2-acre block bounded by East 47th Street to the north, East 46th Street to the south, Lexington Avenue to the east, and Park Avenue to the west.

Scaffolding and construction netting has been assembled across the western face and corners of the multistory podium in preparation for the removal of the envelope. The renderings preview the new façade consisting of bronze-glazed terracotta and intricate relief paneling surrounding the windows. New landscaping and garden beds will also line the sidewalks and perimeter of the nearly 20,000-square-foot redesigned plaza.

[ChiND]

This is hideous.

[NYguy]

MAY 31, 2026

[ChiND]

I find it inconceivable that SLG didn't replace the entire facade on this eyesore. Isn't it largely empty? Now would have been the time to do it.

[HappyCapSlapper]

Originally Posted by ChiND

I find it inconceivable that SLG didn't replace the entire facade on this eyesore. Isn't it largely empty? Now would have been the time to do it.

Its nearly 100% occupied - SocGen in the base floors (the reclad podium) is now a known vacate and kicking tyres on new HQ space (some of the new developments, potentially). Agree that there should have been some facade work on this scope, but project is getting VE'd already. Property brochure online has significant reduction in scope on the rooftop amenity vs what was presented in 2023 (renderings already in this sub)

[ChiND]

Originally Posted by HappyCapSlapper

Its nearly 100% occupied - SocGen in the base floors (the reclad podium) is now a known vacate and kicking tyres on new HQ space (some of the new developments, potentially). Agree that there should have been some facade work on this scope, but project is getting VE'd already. Property brochure online has significant reduction in scope on the rooftop amenity vs what was presented in 2023 (renderings already in this sub)

Apart from SG, aren’t many tenants vacating?

Do you have any ideas to: 175 Park’s tenants? I’m still guessing SG, Morgan Stanley, or Capitol One.

Do you have any insights into where 400-410 Park will be redeveloped?