245 Park Avenue

245 Park Avenue has about 1.6 million square feet of floor area in total, including 1.5 million square feet of office, 58,000 square feet of retail and 0 square feet of industrial and storage space, according to NYC PLUTO 26v2. These are the city's estimates for the whole building, not space that is available.

City records list 1966 as the year built, with a major alteration recorded in 2011. The building is 45 floors tall.

City records list 121 East 46th Street, 125 East 46th Street, 108 East 47th Street, 112 East 47th Street, 118 East 47th Street and 480 Lexington Avenue on the same tax lot (BBL 1013010001) as 245 Park Avenue. A space listed on Leasemark at any of these addresses shows up on this page.

City records give two ZIP codes for this tax lot: 10017 in NYC PLUTO 26v2 and 10167 on the Department of Finance's assessment roll. Some large New York buildings have a ZIP code of their own beside the area's, so check with the building's management which one it uses before you rely on either.

The lot is in the C5-3 zoning district. PLUTO lists a built floor area ratio (FAR) of 19.51 and a maximum commercial FAR of 15 for this lot.

The closest subway station to 245 Park Avenue is 51 St (the 6, E and F trains, connected to Lexington Av/53 St), about 0.2 miles away in a straight line, roughly 5 minutes on foot. The MTA lists it as an accessible station. Also nearby: Grand Central-42 St (the 4, 5, 6, 7 and S trains), 5 min walk; 5 Av (the 7, B, D, F and M trains, connected to 42 St-Bryant Pk), 8 min walk. Walking times are straight-line estimates; the street route is longer.

The NYC Department of Finance's 2026/27 assessment roll lists METROPOLITAN TRANSPORTATION AUTHORITY as the owner of record of 245 Park Avenue (BBL 1013010001). Deeds and mortgages for the lot are public in ACRIS, the city's property records system.

Leasemark does not have the building's tenant roster, but SEC filings name companies with offices at 245 Park Avenue. 9 public companies report the address as their principal executive office: ARES CAPITAL CORP (ARCC); ARES COMMERCIAL REAL ESTATE CORP (ACRE); TPG MORTGAGE INVESTMENT TRUST, INC. (MITT); TRADEWEB MARKETS INC. (TW); ARES SPORTS, MEDIA & ENTERTAINMENT OPPORTUNITIES LP; and 4 more. 2 investment managers and funds file 13F holdings reports from the address: ANGELO GORDON & CO., L.P.; and SG Americas Securities, LLC. Private companies do not file with the SEC, so the full list of tenants is longer, and a company can also report a building it owns.

245 Park Avenue last sold in May 2017 for $2.21 billion, according to the deed recorded with the city. BOP 245 PARK LLC sold it to 245 PARK AVENUE PROPERTY LLC. That comes to about $1,393 per square foot of floor area. The deed is ACRIS document 2017051000195001 (BBL 1013010001) in the city's property records. A sale of the company that owns a building is not recorded as a deed, so it would not show there.

245 Park Avenue reported an ENERGY STAR score of 59 for calendar year 2024 in its Local Law 84 benchmarking filing. Under Local Law 33, as amended by Local Law 95 of 2019, a score of 85 or higher earns an A, 70 to 84 a B, 55 to 69 a C and under 55 a D, so 59 earns a C. The Department of Buildings assigns the grade a building posts, so the posted label can differ if a filing was corrected. Its site energy use came to 84.9 kBtu per square foot, 11% below the national median of 95.8 for a similar property. Its greenhouse gas emissions were about 12,395 metric tons of CO2e (7.86 kg per square foot).

At its 2024 energy use, 245 Park Avenue comes to about 8,914 metric tons of CO2e a year under Local Law 97's coefficients, against a limit of 12,038 tons for 2024 to 2029 (74% of the limit), so it would owe no penalty. From 2030 the limit drops to 4,305 tons and the same energy use counts as about 5,753 tons, about 1,449 tons over, or an estimated $388,000 a year unless the building cuts its emissions. This is an estimate from the owner's 2024 benchmarking filing using the coefficients and per-use limits in the law and the Department of Buildings rule, at $268 per ton over. It is not the building's Local Law 97 report, which can count credits and deductions this estimate cannot.

In the 12 months to October 2026, the Department of Buildings issued first permits for 63 jobs at 245 Park Avenue. In the last two years, interior work was permitted on 26 floors (floors 1 to 3, 5, 14, 15, 17, 22, 27 to 33 and 36 to 46 and the mezzanine). The newest build-out, on floor 28, was first permitted in October 2026 (construction, mechanical, plumbing; filed cost estimate $700,000). A sidewalk shed permit here is active until December 31, 2026. These are the Department of Buildings' DOB NOW work permits for tax lot 1013010001. A permit is approval to do the work; it does not say who the work is for or whether it is finished.

The Department of Finance's 2026/27 assessment roll lists a taxable value of $421.7 million for 245 Park Avenue. At the Class 4 rate of 10.848% (tax year 2025/26, the latest rate the Department of Finance lists), that is about $45.7 million a year, roughly $28.83 per square foot of floor area, before abatements such as ICAP. The city's property tax records for BBL 1013010001 show the actual bill.

For tax year 2026/27, the NYC Department of Finance puts the market value of 245 Park Avenue at $937.2 million ($112 million of it land) and its assessed value at $421.7 million, the 45% of market value the city assesses for Class 4 property. The city's market value fell 3% from 2022/23 ($970.1 million) to 2026/27.

Owners registered 5 storefronts at 245 Park Avenue for December 31, 2025, the newest annual filing the city has published, and 3 of them stood vacant that day. At least one storefront here has been reported vacant at the end of every year since 2019. These are the owners' filings with the Department of Finance under Local Law 157, so a storefront vacant on December 31, 2025 may have been leased since. Owners and brokers can list a storefront on Leasemark for free.

No space at 245 Park Avenue is listed on Leasemark right now. Owners and brokers can list space here for free, and tenants can post a requirement to be matched when space opens up.