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Deals & Dealmakers

Macklowe unveils office, retail space at 432 Park Avenue

Macklowe Properties and its partners are adding office and retail to their landmark 432 Park Avenue apartment tower.

As the tallest residential tower in the Western Hemisphere, the skyscraper has brought global attention to the uptown corridor.

“At a quarter of a mile tall, 432 Park Avenue changed the New York City skyline.  Now, with the 57th Street retail and boutique commercial space, and the landmark Park Avenue Cube, we’re changing the streetscape,” said Harry Macklowe, chairman, Macklowe Properties.

Over 130,000 s/f of retail space and office space will be created within the building.

The retail will be divided between three spaces: 40 East 57th Street, a collection of modern, double-height units, spread over 20,000 s/f on two floors that can be customized for one to five tenants.

The Park Avenue Cube, on the northwest corner of 56th Street, is a white-glass modernist structure that hold over 6,600 s/f on two floors. An underground Concourse of more than 30,000 square feet will connect these two spaces. The almost column-free concourse will have the flexibility to house a variety of tenants, and will have direct access from Park Avenue, the Park Avenue Cube and 40 East 57th Street.

A CBRE team consisting of Andrew Goldberg, Richard Hodos, Matthew Chmielecki, and Joseph Hudson, are representing Macklowe Properties in the leasing for the retail component.

Directly adjacent to the 432 Park Avenue Retail Cube will be a marble landscaped plaza designed by Zion and Breen, the designers of the MoMA Sculpture Garden and Paley Park on 53rd Street.

Situated above the retail space at 40 East 57th Street, the 432 Park Avenue executive offices will have a 90 ft. glass entry to column-free offices will cover four floors with more than 17,600 s/f per floor, with floor-to-ceiling windows.

Paul Amrich, Neil V. King III, and Patrice Meagher, also of CBRE, are representing Macklowe Properties in the leasing for the Executive Offices.

“We are thrilled to have the unique chance to offer brands the opportunity to have a world-class flagship retail space and presence in this iconic luxury skyscraper that has some of the best bones that construction today has to offer, in one of the best locations in the world,” said Andrew Goldberg, Vice Chairman, CBRE.

“Harry Macklowe’s vision, combined with the building’s outstanding Plaza District location, beautiful office space and stunning garden views, offers a very different, ultra-high end experience surrounded by some of the best amenities the city has to offer,” Paul Amrich, Vice Chairman, CBRE.

“With its unmatched prestige and unique boutique feel, the floors offer the highest-quality office – and retail – space for the most demanding tenants.”

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