{"id":41185,"date":"2025-01-20T07:35:21","date_gmt":"2025-01-20T04:35:21","guid":{"rendered":"https:\/\/www.commercialcafe.com\/blog\/?p=41185"},"modified":"2025-11-12T17:25:29","modified_gmt":"2025-11-12T14:25:29","slug":"two-park-avenue-manhattan-office-tower-sale","status":"publish","type":"post","link":"https:\/\/www.commercialcafe.com\/blog\/two-park-avenue-manhattan-office-tower-sale\/","title":{"rendered":"Park Avenue Manhattan Office Tower Fetches $360 Million"},"content":{"rendered":"
[vc_row][vc_column][vc_column_text css=””]Commercial real estate advisor and service provider Newmark Group, Inc. recently announced that it had arranged one of the largest all-office property sales in New York City in 2024.<\/p>\n

Newmark advised investment bank company Morgan Stanley in the sale of Two Park Avenue, a 1-million-square-foot high-rise nestled in the heart of the NoMad submarket. The buyer, Haddad Brands, reportedly plans to occupy a segment of the property and lease out the remainder of the space.<\/p>\n

According to the Newmark statement of sale, this change of hands was in line with a rising trend of occupier-owner transactions in which companies opt to purchase properties for a discount, rather than lease the space.<\/p>\n

Rising 29 stories above the corner of Park Avenue and East 33rd<\/sup> Street, Two Park Avenue is located a couple of blocks away from the Empire State Building and a short, 10-minute walk from both Grand Central and Penn stations.<\/p>\n

The property features floor plates between 3,950 and 49,631 square feet; above-standard ceiling height; and a little more than 1 million square feet of LEED Gold-certified rentable Manhattan office space that includes retail. Amenities include a 27th<\/sup>-story penthouse lounge and outdoor terrace; a ground-floor lobby and conference center; and bike parking.<\/p>\n

\"daytime<\/a>

2 Park Avenue offers more than 1 million square feet of high-end Manhattan office space that can accommodate both large and small businesses.<\/em><\/p><\/div>\n

\u201cThe sale of Two Park Avenue reflects the growing trend of occupiers transitioning to ownership as a strategic move to align their business needs with long-term real estate goals,\u201d said Adam Spies, co-head of Newmark U.S. Capital Markets. \u201cThis transaction allows Morgan Stanley to achieve a strong outcome in today\u2019s market while enabling Haddad Brands to secure a flagship presence in one of Manhattan\u2019s premier office towers.\u201d<\/p>\n

A leader in manufacturing and distribution of branded children\u2019s wear and accessories, Haddad Brands is a privately held family business founded in 1925. Since then, it has collaborated with some of the most iconic brands in fashion, including Nike, Levi\u2019s, and Ralph Lauren.<\/p>\n

\"daytime<\/a>

Amenities at 2 Park Avenue include a ground-floor conference center and a lounge and terrace space on the 27th floor.<\/em><\/p><\/div>\n

See local listings of office space for sale in Manhattan<\/a> or visit the CommercialCafe.com<\/a> homepage to start your search for real estate investment opportunities in other locations.[\/vc_column_text][\/vc_column][\/vc_row]\n<\/div>","protected":false},"excerpt":{"rendered":"

The high rise at Two Park Avenue sold in one of the largest transactions of office space in Manhattan in 2024. Claiming a price tag of roughly $360 per square foot, the property is now owned by Haddad Brands.<\/p>\n","protected":false},"author":48,"featured_media":41188,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[37,38,4014,39],"tags":[],"class_list":["post-41185","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial-real-estate-news","category-deals","category-featured","category-office","wpautop"],"acf":[],"yoast_head":"\nManhattan Office Tower Sells for $360M | CommercialCafe<\/title>\n<meta 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