281 Park Avenue South – Incredible Full Building Headquarters Opportunity

January 8, 2015

Lance Leighton

Founder – TechOfficeSpaces.com
Corporate Managing Director, Savills Studley
New York State Licensed Real Estate Salesperson

Call 212-326-8668

Unique Office Space in Midtown South – Perfect for Retail, Tech, Media or Creative Companies

In 1963, a church on the corner of 22nd Street and Park Avenue South, was sold for $910,000 dollars to the nonprofit Federation of Protestant Welfare Agencies. Converted to office space and utilized by them ever since, this turn-of-the-century building has been off the radar of real estate professionals for years. Flash forward to today, 52 years later, and Aby Rosen’s RFR Realty is the new owner of the prized jewel that now goes by the address 281 Park Avenue South.   Having just closed his deal at $50,000,000, the building is positioned to be one of the greatest retail and office opportunities available for lease in 2015.   With the previous owner vacating the premises in 6 months, the former “Church Missions House” will be available for the first time since the conversion from a house-of-worship and non-profit back office, to a museum-like headquarters or retail opportunity.

Built in 1894 on land donated by the late financier and philanthropist, J. Pierpont Morgan, to support the growing missionary efforts of his church, architects and developers simply do not build structures like this anymore.  Boasting an elaborate renaissance-inspired design and intricate architecture, this landmarked building is a site to see.  Measuring only 44,000 square feet (spanning over 7 floors (with rooftop and below grade space)), it is a dream come true for companies that require both branding and identity.

Walking up to the building for the first time it is clear that the building’s potential has been underutilized for years.  There is currently no “real” retail presence being exploited, though Park Avenue South’s retail rents are at the highest in the history of NYC. Accordingly, the 6,600 square feet of prime retail should be accentuated by any incoming tenant. 

Take the elevator up to the second floor and the real wow factor begins. Encompassing roughly 25’ ceilings and architecturally significant accents throughout (e.g. stained glass windows, skylights, oversized windows, a mezzanine loft, etc.) it can be used as additional retail or make for some really incredible office space. The other floors in the building also have above-normal ceiling heights, feature three sides of light (that will never be impeded or obstructed), and most importantly all of the floors are virtually column-free (2 small columns on each).  As a result, all of the floors are highly efficient for maximizing headcount or retail space.   A breakdown of the square footage throughout the building can be found below.

Lastly, the building features a large useable rooftop- perfect for entertaining clients or event space.  Click here to contact us for pricing or to arrange an inspection.

If you are looking for more tech, media or advertising (TAMI) appropriate office spaces in NYC, try our free search here.

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