Recent deals lift 2 Park Ave. to 90% occupancy

1 1 minute read

Leasing Success at 2 Park Ave.

Hadson Realty made a smart investment when they purchased 2 Park Ave. from Morgan Stanley for $360 million last year. This move paid off as the 1.2 million square foot prewar property has seen a surge in leasing activity.

Recent deals totaling over 165,000 square feet have brought the building to an impressive 90% occupancy rate. With asking rents ranging from $95 to $115 per square foot, the property is attracting a diverse range of tenants.

Notable leases include space taken by Cadent, Charlie Health, and Oxford Economics, all adding to the vibrancy of this Art Deco-style building located between East 32nd and East 33rd streets.

Hadson Realty bought 2 Park Ave. from Morgan Stanley last year for $360 million. JLL

Other notable tenants at 2 Park Ave. include law firm Herrick Feinstein, infrastructure consultant AECOM, and recently added space by CUNY for their business offices.

The landlord’s representation in all leasing deals has been handled by JLL’s Mitchell Konsker, Cynthia Wasserberger, Kristen Morgan, and Michael Hallas, along with Franco Rauseo of Haddad Brands. JLL took over leasing responsibilities 14 months ago and has been instrumental in the success of the property.

With major tenants like Haddad Brands occupying significant space in the building, the future looks bright for 2 Park Ave. Richard Haddad of Haddad Brands expressed confidence in the building’s future, stating, “We look forward to welcoming new tenants who will help write the next chapter of this iconic address.”

Recent upgrades totaling $50 million have enhanced the building’s appeal, including a redesigned lobby, conference center, and an extensive amenities suite with a wraparound terrace.

In other news, JLL’s Paul Glickman and Mitch Konsker were honored with the National MVP Agency Leasing Award for their outstanding achievements, including the successful leasing of over 200,000 square feet at 51 Astor Place.

JLL tristate chairman Peter Riguardi praised the duo, stating, “Paul and Mitch exemplify the best of JLL.”

Meanwhile, SL Green’s 500 Park Ave. has reached full occupancy with investment firm Kohlberg LLC signing a new lease for the entire ninth floor totaling 18,820 square feet.