245 Park Avenue facts for kids
Quick facts for kids 245 Park Avenue |
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| General information | |
| Status | Complete |
| Type | Office |
| Coordinates | 40°45′18″N 73°58′30″W / 40.754885°N 73.974871°W |
| Completed | 1967 |
| Owner | HNA Group |
| Height | |
| Roof | 648 ft (198 m) |
| Technical details | |
| Floor count | 48 |
| Floor area | 1,719,000 sq ft (159,700 m2) |
| Design and construction | |
| Architect | Shreve, Lamb and Harmon |
| Developer | Uris Buildings Corporation |
245 Park Avenue is a very tall building, also known as a skyscraper, located in New York City, New York. It stands at 648 feet (198 meters) high. This impressive building was finished in 1967. It has 48 floors and covers a huge area of about 1.7 million square feet.
The building was designed by a famous architecture firm called Shreve, Lamb and Harmon. It is one of the tallest buildings in New York City. In 2000 and 2001, 245 Park Avenue won a special award called the Pinnacle Award from the Building Owners and Managers Association.
History of 245 Park Avenue
Before 245 Park Avenue was built, the land was home to a large exhibition hall called the second Grand Central Palace. This old building was taken down in 1964 to make space for the new skyscraper.
Over the years, 245 Park Avenue has had different names. It was once named after the American Tobacco Company and later American Brands. It was also known as the Bear Stearns building for a while.
In 1987, a big financial company called Bear Stearns decided to make 245 Park Avenue its new main office. They rented more than 500,000 square feet of space. About 3,000 of their employees moved into the building.
Later, in November 2000, another large financial company, JPMorgan Chase, rented a big part of the building. They leased 580,000 square feet. This helped them create a large office area, connecting with their main office nearby at 270 Park Avenue.
In March 2017, a large company from China called HNA Group bought the building. They paid $2.21 billion for it. This was one of the highest prices ever paid for a skyscraper in New York City. HNA Group got a very large loan of $1.75 billion from several banks to help pay for the building. These banks included J.P. Morgan Chase, Deutsche Bank, Barclays, Natixis, and Societe Generale.
After facing some money problems in 2018, HNA Group decided to sell off many of its properties. As part of this plan, they sold a part of their ownership in 245 Park Avenue. They sold a $148 million share to a company called SL Green. SL Green also became the company that manages the building and handles renting out its spaces.
Who Works Here? Companies at 245 Park Avenue
Many different companies have offices inside 245 Park Avenue. Here are some of the businesses that work in this building:
- Angelo, Gordon & Co., on floors 24-26
- Ares Management, on floors 42-44
- HNA Group, on floor 40
- Houlihan Lokey, on floors 17, 19-20 & 32
- JLL, on floor 16
- J.P. Morgan Chase, on floors 2 & 16
- Major League Baseball, on floors 29-31 & 34
- National Australia Bank, on floor 28
- Norinchukin Bank, on floor 21
- Pioneer Financial LLC, on floor 17
- Regus, on floor 39
- Rabobank, on floors 36-38
- SEB, on floor 33
- Societe Generale, on floors 3-14
- Vestar Capital Partners, on floor 41
- WisdomTree Investments, on floor 35
- Woori Bank, on floor 43
See also
In Spanish: 245 Park Avenue para niños
