SL Green signs 77,000 s/f lease with Stonepeak Ptrs. at 245 Park Ave.

Manhattan, NY According to SL Green Realty Corp., Stonepeak Partners, L.P., a leading international alternative investment firm, has signed a new 76,716 s/f, 15-year lease covering the entire 31^st and 32^nd floors at 245 Park Ave. To date in 2023, SL Green has signed leases totaling 199,872 s/f in the building.

“We’re delighted to welcome Stonepeak Partners to 245 Park Avenue as we commence a transformative redevelopment of the building,” said Steven Durels, SL Green’s executive vice president, director of leasing and real property. “Park Avenue continues to be the premier Manhattan submarket as world class companies increasingly focus on midtown as their preferred office location.”

245 Park Ave. is a 1.8 million s/f, class A office building located directly across from JP Morgan Chase’s new world headquarters. SL Green has retained Kohn Pederson Fox to lead a redevelopment design which includes the installation of a jewel-like terra cotta overclad of the Park Ave. façade, new windows, new lobby and elevator cabs, spectacular plaza featuring colonnades of columnar trees, a 17,000 s/f wellness center with newly imagined golf lounge and grab-n-go, new 10,000 s/f, plaza level fine dining restaurant and new rooftop restaurant with landscaped roof patio.

Stonepeak Partners was represented by Silvio Petriello, Ben Friedland and Tamika Kramer of CBRE, and the landlord was represented by Patrick Murphy, Bruce Mosler, Tara Stacom, Harry Blair, Ron LoRusso, Justin Royce and Will Yeatman of Cushman & Wakefield.