BXP (NYSE:BXP), the largest publicly traded developer, owner and manager of premier workplaces in the United States, today announced that SAGA Hospitality Group has signed a lease to open a new restaurant at 360 Park Avenue South. The restaurant is an important part of BXP’s transformation of the 450,000-square-foot Midtown South tower into a premier, modernized workplace. BXP acquired 360 Park Avenue South in December 2021.
Known for award-winning restaurants Crown Shy, SAGA, and cocktail bar Overstory in the Financial District, SAGA Hospitality Group’s new 7,000-square-foot concept at 360 Park Avenue South marks the team’s first establishment in Midtown South. Located on the corner of 26th Street, the restaurant will offer coffee and pastries during the day and unique seafood dishes at night.
“The team at SAGA Hospitality Group has built a reputation for world-class dining experiences in the Financial District and we’re excited to expand their reach to the growing Midtown South neighborhood,” said Hilary Spann, Executive Vice President, New York Region at BXP. “We’re committed to creating premier workplaces with desirable amenities, including experiential dining, and SAGA’s new restaurant adds flavor to the market. We’re excited to continue the renovation progress at 360 Park Avenue South and create unparalleled workplace environments for today’s employees.”
In addition to the ground floor restaurant, BXP is refreshing the classically built tower with modern finishes and communal spaces that support the evolving needs and desires of today’s workforce. Building clients will enjoy public lounges for socializing, private nooks for quiet work, flexible and expansive floor plans, and high ceilings and large windows offering unparalleled views of Midtown South.
Located at the southwest corner of Park Avenue South and 26th Street, 360 Park Avenue South is uniquely positioned just a block away from Madison Square Park and equidistant from prominent transportation hubs Grand Central and Penn Station. The 24/7 district is home to financial firms, creatives, and entertainment companies, as well as a robust dining scene, gym and fitness clubs, and retailers.
In addition to the neighborhood amenities and new restaurant concept, clients of 360 Park Avenue South will have access to a ground floor bike valet, lounge workspaces, two expansive lobbies, conference center, and a communal rooftop space for open-air access and private events.
BXP owns and operates approximately 10.6 million square feet of premier workplaces in Manhattan, primarily in the Park Avenue and Plaza districts. With the acquisition of 360 Park Avenue South, BXP expanded its footprint into the Midtown South submarket, a preferred location for companies and young professionals in the tech, advertising, media and information (TAMI) sector.
To learn more about BXP’s portfolio and ongoing development initiatives, visit bxp.com.
This press release contains forward-looking statements within the meaning of the Federal securities laws. You can identify these statements by our use of the words “will,” “expects,” “intends” and similar expressions that do not relate to historical matters. You should exercise caution in interpreting and relying on forward-looking statements because they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond BXP’s control and could materially affect actual results, performance or achievements. These factors include, without limitation, BXP’s ability to satisfy the closing conditions and/or complete the transaction on the terms currently contemplated or at all, its ability to complete the upgrades referenced above on time, within budget or at all, and other risks and uncertainties detailed from time to time in BXP’s filings with the SEC. BXP does not undertake a duty to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
