Another prominent eatery is expected to be added to Park Avenue’s Midtown restaurant corridor.
“In keeping with the fine dining market that dominates Park Avenue, we are working with a high-end hospitality group to launch one of their signature restaurants at the base of 245 Park Avenue,” said Kim Mogull of Mogull Realty.
Mogull is representing the building in leasing nearly 40,000 square feet of vacant retail space.
“This is just one of the many steps ownership is taking to reposition this timeless tower and bring it back to its world-renowned class and elegance,” Mogull added.
The still-unnamed dining spot will join Restaurant Row between Grand Central Terminal and 57th Street, which now includes: Casa Lever at 390 Park Ave.; The Grill, The Pool and The Lobster Club at 375 Park Ave.; the new iteration of the Four Seasons at 280 Park Ave.; and the upcoming eatery at 425 Park Ave. to be operated by Eleven Madison Park chef Daniel Humm and restaurateur Will Guidara.
Chinese conglomerate the HNA Group owns 245 Park, the 1.8-million-square-foot tower that sits on a full block bounded by Park and Lexington avenues and East 46th and 47th streets. SL Green Realty Corp. holds a mezzanine loan of $110.5 million.
The dark, side-core building with brass accented retail spaces was developed in 1966 by Percy and Harold Uris but has been updated several times. Brookfield and the New York State Teachers’ Retirement Systems sold it to HNA in 2017 for $2.21 billion through CBRE.
The 45-story marquee building will also have a hipper restaurant in a duplex that once housed Indian-Latin fusion eatery Vermilion, on the East 46th Street and Lexington Avenue corner of the tower. “We are talking to restaurants with great food and a fun vibe,” Mogull said.
“The two new restaurants will bring energy and a cool buzz to the building,” she added, when only addressing the retail availabilities and declining to discuss asking rents.
Along East 47th Street, offers are in and the owners are exploring a variety of options. “They are focused on providing amenities to make it a more convenient and appealing environment,” Mogull said. “We want to ensure this marquee building is unique and special to attract and retain today’s office tenants. Plans are jelling, and things are happening. It’s a very exciting time for the building.”
