Renderings Revealed for 237 Park Avenue
Lauren Elkies Schram May 30, 2014, 10 a.m.
RXR Realty has released renderings of the revamped 237 Park Avenue after the recent open of the marketing office in the Class A office building.
To create the office, RXR, along with Walton Street Capital, gutted a floor and rebuilt the space at the 21-story building, between 45th and 46th Streets, to highlight the full potential of the 60,000-square-foot floor plate.
The companies paid $800 million-plus for the 1.2 million-square-foot building from Lehman Brothers Holdings Inc. last year.
The renovations will cost just under $100 million, according to Scott Rechler, RXR’s chairman and chief executive officer. The lobby, plaza and facade are being revamped by architect Dan Shannon of Moed de Armas & Shannon.
“When the repositioning is completed 237 Park will be a modern, Class A building that will offer Park Avenue tenants a great value proposition and media and tech companies efficient floor plates adjacent to Grand Central Station,” Mr. Rechler said.