251 Park Avenue South

Overview

251 Park Avenue South rises 16 stories above Manhattan’s Flatiron District/ Union Square/Gramercy Park neighborhood. Situated at the corner of 20th Street, this commercial building sits in one of the areas hottest, most active office markets in the country. It boasts magnificent views of Midtown South and is surrounded by a variety of commercial businesses and a vibrant eclectic neighborhood mix.

A major renovation program is planned for the property which will include the building’s windows, lobby, elevators and mechanical. Pre-built suites will also be designed.

The 120,000 square foot prewar building was completed in 1909 and features a façade of light stone tile, as well as large glass windows of various shapes that add to the property’s visual appeal. The building also offers 12-foot ceilings through the lower floors and ceilings reaching 16 feet on the upper floors.

The highly desirable Park Avenue South area has become a hub for what is referred to as TAMI (Technology, Advertising, Media, and Information) tenants. It is also a center of activity known for its top-notch retailers and brimming with such popular dining destinations as the Old Town Bar and Restaurant, the legendary Pete’s Tavern, and the famous lunchtime stop Shake Shack. Also nearby are Baruch College, Gramercy Park Hotel, the Metropolitan Life Insurance Tower, the triangular Flatiron Building, and the Cabrini Medical Center, as well as Gramercy, Union Square, and Madison Square Parks. 

There are several long-term tenants in the building including Maharam, a fabric design company that occupies more than 20,000 square feet of office space on the upper floors, and Santander Bank occupying retail store space on the ground floor.

Key Highlights