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Office Building with Double-Height Retail
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280 Park Ave, New York, NY 10017

Modernized office building with a new lobby at the North Passageway of Grand Central Terminal.

Property Size10,641 SF
Days on Market88

Property Features for 280 Park Ave

General Information

Standard status Active
Size 10,641 SF
Property subtype OFFICE
Listing Agency: Vornado Realty Trust - Corporate
Listed By: Edward Riguardi
Source: Moodyscre
Added: May 6 Changed: Jul 30 Last Checked: Jul 31 at 11:18AM

Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Vornado Realty Trust - Corporate

Investment Insights

Based on property information with market context.

280 Park Avenue is a modernized office building positioned at the North Passageway of Grand Central Terminal in Manhattan’s Park Avenue business corridor. The property size is listed as 10,641 SF.

The transformation includes a new lobby with 25-foot-high ceilings extending the full block-front of Park Avenue. Building entrances and plaza areas have been fully redeveloped with abundant green space, and an interior atrium features a museum-quality reflecting pool.

Additional upgrades include a redesigned floor-to-ceiling glass bridge that integrates the entire 1.3 million square foot complex, along with a new double height retail presence on both 48th and 49th Streets.

Key Highlights

  • New lobby with 25‑foot‑high ceilings extending the full block‑front of Park Avenue
  • Interior atrium with a museum‑quality reflecting pool
  • Double height retail presence on both 48th and 49th Streets

Property Analytics

Current Use

Office buildings

Suggested Use

Top Pick Butcher (Bike/Boat/Book/etc) Store Buffet Pet Grooming Service Clothing & Fashion Store Locksmith

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

NNN (Triple Net)
Lease Type

Location Intelligence

Trade Area within ½ mile

87,472
Businesses Nearby

Demographics for 10017, NY

17,401
Population
12,866
Households
1.4
Avg Household Size
38
Median Age
85%
College-Educated
97%
High-School Grad
0.3 sq mi
ZIP Area
58,003
Density / Sq Mi
$132,518
Median Household Income
$94,214
Median Earnings
$2,980
Median Rent
$808,200
Median Home Value

Market

Lease Benchmarks for New York, NY

$54.13 /SF/Yr
Avg Asking Price
$37–$65 /SF/Yr
Price Range
148,527 SF
Avg Space Size

Vacancy Rate% for Office in Northeast region

13.1% 2019
15.4% 2020
17.6% 2021
19.1% 2022
20.2% 2023
20.9% 2024
19.9% 2025
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Frequently Asked Questions

What type of property is this?
Office building - Modernized office building with a new lobby at the North Passageway of Grand Central Terminal.
Where is this office building located?
The property is located at 280 Park Ave New York, NY.
What are key features of this property?
This property features: New lobby with 25‑foot‑high ceilings extending the full block‑front of Park Avenue; Interior atrium with a museum‑quality reflecting pool; Double height retail presence on both 48th and 49th Streets
(212) 894-7923 Call to check price and availability
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