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Remodeling project underway at 475 Park Avenue South.

Remodeling project underway at 475 Park Avenue South

475 Park Avenue South, the 35-story office tower located at 32nd Street, is presently undergoing major remodelling based upon a plan by Fox & Fowle, Architects.

The building's air-conditioning system has been completely overhauled including the installation of new cooling towers and chiller equipment.

The office lobby is presently undergoing total renovation with completion scheduled for late summer of this year.

475 Park Avenue South, originally built by Cohen Brothers in 1970, is the only post-war office tower in the Park Avenue South area. Floor sizes range from 15,525 rentable square feet in the base of the building to tower floors of 13,000 to 10,010 rentable square feet each.

Recent leasing activity in the building encompasses transactions for approximately 40,000 square feet with rentals aggregating in excess of $6 million.

Rogers & Cowan, the largest entertainment public relations firm in the world, will be relocating its New York offices to the entire 32nd floor at 475 Park Avenue South, it was announced by Charles Steven Cohen, president/CEO of Cohen Brothers Realty Corporation, exclusive leasing and managing agent for the building.

The long-term lease with rentals aggregating in excess of $3 million dollars was negotiated on behalf of the tenant by Michael Monahan, Senior Vice President of Jones Lang Wootton, USA. Glenn J. Elliott, Vice President of Cohen Brothers Realty Corporation, represented the building in the transaction.

Larry Mitchell, Esq. of Cummings & Lockwood represented Rogers & Cowan and Jerome Borg, Esq., of Marcus, Borg, Rosenberg & Diamond represented the building.

Gerard Nocera, representing 475 Park Avenue South, has also arranged the following transactions:

* International Parenting Association has leased approximately 9,500 rentable square feet on the 7th floor.

* Imcor from Stamford, Connecticut has leased approximately 3,000 rentable square feet on the 7th floor.

* Corporate Counseling has leased approximately 4,200 rentable square feet on the 30th floor.

* Whitehorse Mortgage Corp. of New York has leased approximately 3,100 rentable square feet on the 9th floor.

* Federman Construction has leased approximately 5,750 rentable square feet on the 9th floor.
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Publication:Real Estate Weekly
Date:Jun 19, 1991
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