Transit-Oriented Development Comes To Grand Central Terminal
There are few transit centers more conveniently located than Grand Central Terminal. Opened in 1913, the transportation hub is less than a mile from some of Midtown Manhattan’s most frequented destinations, including Times Square and Rockefeller Center.
Grand Central Terminal sees more than 750,000 visitors every day. It services daily commuters from Fairfield and New Haven counties in Connecticut and Rockland, Dutchess and Westchester counties in New York. It also provides connection to the 4, 5, 6 and 7 trains and a shuttle to Times Square.
Following a demand for more convenient working options, several transit-oriented developments have popped up in the Grand Central submarket. These Class-A office buildings offer a combination of luxury and convenience for New York’s many daily commuters.
230 Park
On Park Avenue between 45th and 46th streets stands the Helmsley Building, one of New York City’s most iconic landmarks. Designed by Warren & Wetmore, the firm that designed Grand Central, the Helmsley Building has been a part of New York City’s skyline since 1928.
RXR Realty has renovated the building to accommodate a modern workforce. At 1.4M SF of rentable space across 34 floors, the building offers views of Park Avenue and street access to Grand Central Terminal. As part of a recent $190M redevelopment and modernization program, the building has upgraded its power and HVAC systems, elevators, lobby, windows, roof and pedestrian walkways.
Many of the amenities at 230 Park are designed with community in mind. The Helmsley Building's tenant amenity lounge, for instance, hosts routine events like meetings, conferences, dinners and even workout classes.
Tenants also have access to in-building retail options like Bobby Van’s Steakhouse, Lea Wine Bar, UrbanSpace Market and Starbucks. In addition to offices, 230 Park offers 33K SF of retail leasing space, allowing retail tenants an opportunity to get in front of the building's office employees and Grand Central Station's daily commuters.
237 Park
Next door to the Helmsley Building, 237 Park offers commercial tenants an opportunity to define their space based on evolving business needs and company growth. The building atrium's windows bring in natural sunlight and fresh air, providing access to healthy office lifestyles and wellness activities. The property's 21 floors average 60K SF each, and its total usable floor area is approximately 1.2M SF. Efficient floor plates are suitable for either a traditional office space with desks and cubicles or an open, collaborative layout. This flexibility suits 237 Park, home to a diverse tenant base of companies, including JPMorgan Chase, New York Presbyterian and J. Walter Thompson.
The building underwent a full-asset redevelopment in 2016 to modernize its interior and exterior. In addition to providing on-site management and 24/7 building access, 237 Park has partnered with Convene, a company that provides a platform to help companies that want to curate their space to match employee needs and expectations.
340 Madison
This Class-A office building brings a more contemporary architectural flair to the area. With over 745K SF spread across 22 floors, 340 Madison is one block from Grand Central Station. It was designed by architecture firms Gensler and Moed de Armas & Shannon.
The building has been fully modernized, and is now home to major law firms, financial companies and consulting firms.
450 Lexington Ave.
On Lexington Avenue between 44th and 45th streets, 450 Lexington offers 32 floors of Class-A office space. Completed in 1992 and designed by Skidmore, Owings & Merrill, the building has evolved as a trophy asset with enduring appeal. The building's floor-to-ceiling windows and high ceilings throughout, in addition to its views of Midtown and its transit-oriented location, make it an attractive option for companies looking for luxury and a central location.
This feature was produced in collaboration between Bisnow Branded Content and RXR. Bisnow news staff was not involved in the production of this content.
