399 Park Avenue - New York, NY
399 Park Avenue - New York, NYNew York, NY Boston Properties, one of the country’s largest owners, managers and developers of class A commercial properties, is embarking upon a comprehensive capital improvement program at one of its signature properties, 399 Park Ave. Built in 1961, the 1.7 million s/f office tower spans an entire city block from Park Ave. to Lexington Ave., between 53rd and 54th Sts. Gensler has been tapped as the design architect slated for the redevelopment and repositioning.
“This building was the epitome of modernist design developed for a major corporate user, which is why it continues to be a class A asset,” said John Power, senior vice president, regional manager of the New York office. “But Boston Properties has a long-standing commitment to improving the signature properties in its portfolio and this is an opportunity to enrich a remarkable building for decades to come.”
Among the many exceptional enhancements or “delighters” being designed is a façade transformation in which the exterior limestone will be re-clad with metal panels from grade to the top of the 40-story tower. In addition, spandrel panels will be painted and mullions and glass cleaned and polished. The building’s curbside appeal is also being highlighted with a new canopy at the Park Ave. entrance that will include new ceiling, lighting, pavers, revolving doors and enhanced glass storefront façades.
Adding to the desirability of 399 Park Ave. will be a host of exceptional build-outs and amenities, such as the “Oasis in the Sky,” featuring a glass cube on the 13th floor setback surrounded by a wraparound terrace and outdoor space, including a “green” roof on the Lexington Ave. and 53rd St. sides of the building. The column-free interior of the cube will have 13-ft.ceilings to provide a prospective tenant with the ability to utilize the space as a conference facility, amenity space or even a unique office environment.
On the 7th floor, outdoor “living room” spaces are being constructed in each corner of the building. They will include landscaping, seating and direct walk-out access onto each outdoor space.
Earlier this year, Boston Properties introduced its bike valet program for tenants in four of its office buildings in the immediate area, including 399 Park Ave. where the complimentary secured bike storage facility is located. Originally designed and built as the headquarters for City National Bank, the predecessor of Citibank, the building is already rich in key infrastructure resources such as back-up power, electricity, HVAC and telecommunications. The planned enhancements will only serve to improve this robust asset.
Current tenants at 399 Park Ave. include Arnold & Porter, First Manhattan, Eton Park, PineBridge Investments, C.V. Starr, Morgan Stanley, Moelis & Company, Savills Studley and Avenue Capital.
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