Oestreicher Properties Inc., Marx Realty and Midwood Investment & Development have announced that several prominent firms, including Silver Rock Capital, SK Capital, and Impala Asset Management, have signed leases for office space totaling more than 31,000 SF at 430 Park Avenue in the first half of 2018. During the time period, 7 office tenants at 430 Park Avenue. Also, during this time, retail tenant Cellini Jewelers opened its flagship store at the base of the building.
“Park Avenue offers attractive rents, ample foot traffic and proximity to transportation that has encouraged more and more businesses to relocate from Fifth and Madison Avenues in recent years,” said John Usdan, CEO of Midwood Investment & Development. “430 Park Avenue is located at the nexus of this rapidly growing neighborhood and we’re thrilled to be part of its exciting transformation.”
Some of the new leases include TIAA of America, a Fortune 100 financial services organization that provides services in the academic, research, medical, cultural and governmental fields. The national organization has moved from 430 Park Avenue’s 7th floor to a larger space on the 14th floor spanning 16,489 SF. SK Capital, a private investment firm focused on the specialty materials, chemicals and pharmaceuticals sector, has moved from nearby 400 Park Avenue, occupying 16,849 SF on 430 Park Avenue’s 18th floor. MoloLamken, a law firm focused on complex litigation, has moved from Madison Avenue, taking 16,849 square feet on the building’s 6th floor. Impala Asset Management, an investment management firm, signed a lease for 8,517 SF on the 7th floor of the building. Papamarkou Wellner Asset Management has leased 5,295 SF on 430 Park Avenue’s 17th floor. Silver Rock Capital, a private equity firm, has relocated from Madison Avenue, taking 5,719 SF on 430 Park Avenue’s 17th floor. CH Global Construction, a full general construction company, has moved from its former Madison Avenue location to 1,899 SF on 430 Park Avenue’s 2nd floor.
In March of 2018, independent jeweler Cellini opened a 2,914 SF luxury retail store at the base of 430 Park Avenue, which includes 107 square feet of frontage that extends to East 56th Street. Known for its exclusive selection of fine jewelry and watch brands, Cellini has relocated after many years of calling Madison Avenue home.
430 Park Avenue is owned by Oestreicher Properties Inc., Marx Realty and Midwood Investment & Development. The property is managed by Oestreicher. Situated between 55th and 56th Streets, 430 Park Avenue boasts a full block front on bustling Park Avenue, and is within a few blocks of major destinations including Bloomingdale’s, Apple, Bergdorf Goodman and the Four Seasons Hotel New York.