Park Avenue Plaza Arcade Set for Revamp


Fisher Brothers plans to redesign and renovate the 13,000-square-foot public-access arcade at its Park Avenue Plaza property, The Commercial Observer has learned. The $35 million project is expected to commence in early summer and will take approximately one year to complete.

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“We are proactive and constantly looking at our properties,” said Ken Fisher, partner. “The arcade is public—it’s not just for the tenants—and we want to show from a civic point of view that we are also being proactive.”

684649490356 Park Avenue Plaza Arcade Set for Revamp
A rendering of the redesigned arcade at Park Avenue Plaza

The new design was created by Janson Goldstein LLP and will include light-infused, double-height space with enhancements aimed at improving pedestrian traffic flow. The plans were presented to the local Community Board last night.

Specific elements of the redesign include 30-foot tall glass columns and a glass façade with flat glass panels with vertical glass crystals. Additionally, the project will add to eight-foot to 10-foot tall green walls of vertical vines flanking a newly added water feature. A art installation near the water feature and two art walls will also be added.

The arcade’s two existing retail kiosks will be combined into one to improve through-block visibility and traffic flow.

Built in 1981, the 1.1 million-square-foot Park Avenue Plaza is owned by Fisher Brothers and Sungate Asset Management. The building’s tenant roster includes BlackRock, McKinsey & Co., Evercore Partners, Intercontinental Exchange and others.

“Park Avenue Plaza is one of our premier properties,” Mr. Fisher added in a prepared statement. “This project represents our strong belief in the future of the Midtown Manhattan market and we are confident our investment will pay dividends.