Commercial Office Lease – 505 Park Avenue, New York, NY 10022
Asking Rent: $20,000/Month
Available Space: 2,102 SF
Location: Midtown East – Park Avenue & East 59th Street (10022)
Availability: Immediate
Property Overview
505 Park Avenue presents a boutique Class A office opportunity in one of Midtown’s most prominent business corridors. With 2,102 SF available, the space is ideal for small to mid-sized firms seeking a prestigious Park Avenue address without the footprint of a full-floor lease.
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The property offers efficient layouts, modern finishes, and excellent natural light, catering to tenants in finance, legal, creative services, or executive use.
Key Features
- Size: 2,102 SF
- Asking Rent: $20,000 per month
- Annualized Rent: $240,000
- Effective Rent per SF: ~$114/SF annually
- Building Class: Class A Boutique Tower
- Prestige Factor: Prime Park Avenue corporate branding
Market Profile
- Target Tenants: Boutique investment firms, family offices, law practices, creative agencies, luxury-focused businesses
- Neighborhood Demand: Park Avenue addresses remain in high demand, with a premium placed on smaller, flexible spaces for firms prioritizing location over size
- Competitive Advantage: Rare sub-5,000 SF availability in a trophy Park Avenue location
Financial Highlights
- Asking Rent: $20,000/Month
- Space: 2,102 SF
- Annual Rent: $240,000
- Effective Rent per SF: ~$114/SF
- Lease Term: Negotiable; potential tenant improvement allowances
Location Advantages
- Transit: Excellent access to 59th Street/Lexington Ave (N/Q/R/4/5/6) and Grand Central Terminal
- Neighborhood: Surrounded by luxury retail, corporate headquarters, and fine dining
- Branding Value: 505 Park Avenue positions smaller firms alongside Fortune 500 neighbors
Summary
The 2,102 SF lease at 505 Park Avenue offers a rare boutique opportunity in one of Midtown’s most sought-after office towers. At $20,000/month (~$114/SF), the space delivers premium branding and location advantages for firms seeking to elevate their corporate presence on Park Avenue.
