Built High-End Opportunity in Class A Office Building

Hedge Fund Eton Park Global has put its space on the market for sublease at 399 Park Avenue. The Boston Properties Class A building sits on an entire square block from Park Avenue to Lexington Avenue and from 53^rd to 54^th Streets. With easy access to Grand Central Station, E, M, and 6 trains, 399 Park is situated at the heart of the plaza district. Boston Properties is currently revamping the lobby, building outdoor terraces, and upgrading the façade. Located on the 10^th floor, the Eton Park sublease is available in August of 2017 and its term runs just short of a year through June 2018. This sublease will be trading at a discount to the building, where most deals have been done north of $100 per square foot.

Constructed nine years ago, an estimated $300 per square foot was used to complete the build-out in finishes of wood, stone, and glass. Measured at 61,210 square feet, the tenth floor is built with 16 senior offices, 14 standard offices, 170 trading positions, and 13 conference rooms. The floor features communal spaces such as a large pantry and dining area, lounge, and exercise room complete with lockers and showers. In terms of infrastructure, extensive supplemental HVAC has been added throughout the space, CAD 6 cabling, backup generator, and an on site data center. With views going south on Park Avenue this impressive space is perfect for establishing a plaza district headquarters.

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