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    251 Park Avenue New York, NY 10010

    For Lease
    Contact for pricing

    7,668 SF Executive Office Suite in NYC

    Lot size:
    119,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional 7,668 square foot executive office suite is located at 251 Park Avenue South, a 16-story building in Manhattan's vibrant Flatiron District/Union Square/Gramercy Park neighborhood. Built in 1909 and renovated in 2015, this 119,000 square foot building features a striking light stone tile façade and large, uniquely shaped windows. The suite boasts impressive ceiling heights, ranging from 12 feet on lower floors to 16 feet on upper floors, and offers 13'6" ceilings in this specific space. The building is equipped with elevators and 120/208 three-phase power. A planned major renovation will encompass windows, lobby, elevators, and mechanical systems, along with the design of pre-built suites. This prime location offers magnificent views of Midtown South and is surrounded by a thriving mix of businesses, renowned restaurants (including Old Town Bar & Restaurant, Pete's Tavern, and Shake Shack), and cultural attractions. The area is highly sought after by Technology, Advertising, Media, and Information (TAMI) tenants. The building's long-term tenants include Maharam and Santander Bank. This is a unique opportunity to secure a prestigious office space in one of New York City's most dynamic neighborhoods. The suite is currently vacant and ready for immediate occupancy.

    Property Features for 251 Park Avenue

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    119,000 SF

    Building Details

    Year Built/Renovated
    1909/2015
    Stories
    16

    Unit(s) available at that property

    Space
    6th Floor
    Size
    7,668 SF

    HighLights

    • Prime Midtown South location.
    • Gramercy Park proximity.
    • Excellent public transit access, near Union Square Station.
    • Abundant nearby retail, dining, and Union Square Greenmarket.
    • Five glass‑fronted offices, one glass‑fronted conference room, large open workspace (56+ person capacity), and collaborative pantry.
    • High ceilings and abundant natural light.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Hair Salon Dental Office Nail Salon Building Supply Clothing Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9872728
    Latitude
    40.7383725

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    FAQs

    What type of property is this?
    Office Property / Space - 7,668 SF Executive Office Suite in NYC
    Where is this office property / space located?
    The property is located at 251 Park Avenue New York, NY.
    What are key features of this property?
    This property features: Prime Midtown South location.; Gramercy Park proximity.; Excellent public transit access, near Union Square Station.
    Request Owner's contact information
    251 Park Avenue New York, NY 10010
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    251 Park Avenue New York, NY 10010
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