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White-Box Office Building
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499 Park Ave, New York, NY 10022

Office building at 499 Park is slated for demolition and white-boxing, with potential tenant improvement or installation support.

Property Size4,430 SF
Days on Market708

Property Features for 499 Park Ave

General Information

Standard status Active
Size 4,430 SF
Property subtype OFFICE

Amenities

Central Park and Southern Park views
Listing Agency: CBRE | Midtown Manhattan
Listed By: Neil King
Source: Moodyscre
Added: Aug 23, 2024 Changed: Jul 27 Last Checked: Jul 30 at 1:23PM

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 CBRE | Midtown Manhattan

Investment Insights

Based on property information with market context.

499 Park is an office building featuring polished black glass and was designed by I.M. Pei. The space is being prepared for occupancy, as the building is slated to be demolished and white-boxed, with the landlord able to offer either a new building installation or a tenant improvement allowance.

The property is located on Park Avenue at the corner of 59th Street, with stated views of Central Park and Southern Park.

Key Highlights

  • 499 Park office building at Park Avenue and 59th Street is slated for demolition and white‑boxing
  • Landlord can offer a tenant improvement allowance or a new building installation
  • Designed by I.M. Pei to provide a premium office environment for high‑end commercial tenants

Property Analytics

Current Use

Office buildings

Suggested Use

Top Pick Butcher Auto Parts Store (Bike/Boat/Book/etc) Store Buffet Pet Grooming Service Nursing Home

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

52,828
Businesses Nearby

Demographics for 10022, NY

36,708
Population
25,686
Households
1.4
Avg Household Size
45
Median Age
84%
College-Educated
98%
High-School Grad
0.4 sq mi
ZIP Area
91,770
Density / Sq Mi
$171,038
Median Household Income
$119,657
Median Earnings
$2,928
Median Rent
$1,116,700
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 - Office building at 499 Park is slated for demolition and white-boxing, with potential tenant improvement or installation support.
Where is this office building located?
The property is located at 499 Park Ave New York, NY.
What are key features of this property?
This property features: 499 Park office building at Park Avenue and 59th Street is slated for demolition and white‑boxing; Landlord can offer a tenant improvement allowance or a new building installation; Designed by I.M. Pei to provide a premium office environment for high‑end commercial tenants
(212) 984-8122 Call to check price and availability
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