425 Park Avenue

425 Park Avenue
Between 55th & 56th Streets, Manhattan

Kahn and Jacobs (1957) / Foster + Partners (2016)

The development of 425 Park Avenue from a residential block to a commercial block in the 1950s and from an antiquated office space to the Norman Foster skyscraper in the 2010s is often used to explain general trends on Park Avenue including its demand in commercial real estate, a new focus on safety precautions following 9/11, and a struggle for architectural development within pre-East Midtown Rezoning rules in 2017. 425 Park Avenue’s modern development began in 2006 with the 1$ billion ground lease by L&L Holdings and, in 2015, with construction on the new 425 Park Avenue. Many newspapers articles quote Mr. Levinson of L&L Holdings to showcase how the frustration with 1961 rules and the “sunrise” provision of new office buildings led to the approval of the East Midtown Rezoning plan. The items conclude with information on the tenants and price per square foot in the building, including the record-breaking $300 psf for the penthouse floors.