Two tenants have signed new leases covering a combined 36,127 square feet at 280 Park Avenue, the 1.2 million-square-foot, 43-story Class A high-rise located between East 48th and 49th Streets in Midtown Manhattan. The property jointly owned between SL Green and Vornado Realty Trust.
Leasing activity has accelerated as the buildings $150 million comprehensive redevelopment nears completion, according to Steven Durels, executive vice president, Director of Leasing and Real Property for SL Green Realty Corp.
Blue Mountain Capital Management LLC, a leading global asset manager, has expanded by leasing 28,857 square feet covering a portion of the 14th floor. Blue Mountain occupies the entire 12th floor consisting of 49,541 square feet and the expansion increases their total commitment within the building to 78,398 square feet.
Brad Siderow of the Siderow Organization represented the tenant.
Thayer Street Partners Holdings LLC, a private investment firm, which focuses on growth opportunities within the technology-enabled business and financial services industries, signed a new 7,560-square-foot lease on part of the third floor. Robert Finkelstein of ABS Partners Real Estate, LLC represented the tenant.
The CBRE team of Mary Ann Tighe, Peter Turchin, Eric Deutsch, Gregg Rothkin, and Sam Seiler represented the landlord in both transactions.
Improvements to 280 Park Avenue include a new lobby spanning the entire block front between 48th and 49th Streets connected to a new mid-block atrium featuring a dramatic reflecting pool.
Other improvements include new glass facade connecting the east and west sides of the base floors, redesigned plazas, new elevator cabs and bathrooms, new low profile induction units which increase visibility to windows with floor to ceiling glass, façade cleaning, new roofs, new storefronts and extensive infrastructure upgrades including new electric distribution, emergency generator, state-of-the art security, increased HVAC capacity and enhanced environmental sustainability.
Rendering courtesy SL Green