3 Park Avenue

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3 Park Avenue
3 Park Avenue.JPG
From the northeast
3 Park Avenue
General information
StatusCompleted
TypeCommercial and educational
Location3 Park Avenue
New York, NY 10016
United States
Coordinates 40°44′47″N73°58′52″W / 40.74639°N 73.98111°W / 40.74639; -73.98111
Opening1973
Owner Cohen Brothers Realty Corporation (Office)
New York City Educational Construction Fund (Lower floors)
Height
Roof556 feet (169 m)
Technical details
Floor count42
Lifts/elevators12
Design and construction
Architect(s) Shreve, Lamb and Harmon
Structural engineerRosenwasser/Grossman Consulting Engineers, P.C.

3 Park Avenue is a mixed-use office building and high school erected in 1973 on Park Avenue in Manhattan, New York City. The building, surrounded on three sides by a plaza, is categorized as a Midtown South address in the Kips Bay, Manhattan, Murray Hill, and Rose Hill neighborhoods. It is located between East 33rd and 34th Streets, close to the 33rd Street subway station (served by the 4 ,​ 6 , and <6> trains), an entrance to which is built into the building.

Contents

Architecture

The building was designed by Shreve, Lamb and Harmon, designers of the Empire State Building. [1] Rosenwasser/Grossman Consulting Engineers, P.C. is listed as the structural engineering firm for the building in 2014. [2] The 42-story building consists of a combination of commercial tenants and several specialty schools including Unity Center for Urban Technologies, Manhattan Academy for Arts and Language, Success Academy High School for the Liberal Arts, and Murray Hill Academy. The Norman Thomas High School was formerly located in the building. The Emporis website documents 12 elevators within the building, a virtual address of "101–111 East 33rd Street" and an architectural height of 169.47 metres (556.0 ft). [2] [3]

The building is notable for its diagonal alignment and the bright light colored bricks used for its construction and the same bricks are used for the small plaza at the building's main entrance. A sculpture titled "Obelisk to Peace", created by Irving Marantz in 1972, is situated at the main entrance and is a height of 23 feet (7.0 m), made from bronze and is set on a polished granite base. [3] The sculpture was Marantz's last outdoor work before his death. [3]

The entrance to the school is on the East 33rd Street side of the building, where arcade and plaza space (which surrounds the three sides of the building facing the street) exists; although a bench is situated at the entrance, New York State Penal Law prohibits trespassing. In 2000, the space on the 34th Street side was almost identical to the 33rd Street arcade and plaza, but lacked a bench and sign. [3]

History

Prior to the construction of 3 Park Avenue, the site contained the armory of the 71st Regiment, New York National Guard. The first armory of the 71st Regiment burnt down in 1902 and a replacement was completed in 1905 on a slightly larger section of land. The architectural firm of Clinton and Russell designed the second armory and in 1935 it was described as "Manhattan’s ugly old brownstone" by Time magazine, which was a reflection of a wider perception of the structure. The armory was eventually demolished during the 1960s and a decade passed before the site was redeveloped. [4]

In 2000, the building was owned by Three Park Avenue Building Company LP. [3] By 2014, the property formed part of the Cohen Brothers Realty Corporation's portfolio in June 2014. [5]

The building's lobby was renovated in 2001. In 2016, Cohen Brothers retained César Pelli's Pelli Clarke Pelli architects to design a renovation of the lobby. [6] Changes included new metal canopies, gray granite, and columns at the exterior plaza, renovations of the 25,000 square feet (2,300 m2) of retail space, and new wood paneling, glass walls, lighting, and elevator cabs for the lobby. In December 2018, Citibank provided $182 million in debt to refinance the building. [7] Between 2019 and 2023, the occupancy rate decreased from 85% to 54% after two major tenants, TransPerfect and Icon Capital, moved out. [8] As a result, in 2024, the building's $182 million loan went into special servicing. [9] [10]

Tenants

As of 2014, the list of tenants in the building includes:

The building is featured in the 2005 HBO documentary Left of the Dial , a film about the Air America radio station, [16] a previous tenant of the building.

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References

  1. ↑ Klose, Olivia (December 14, 2010). "500 Fifth Avenue" (PDF). New York City Landmarks Preservation Commission. Archived (PDF) from the original on December 24, 2012. Retrieved June 19, 2014.
  2. 1 2 "3 Park Avenue". Emporis. Emporis GMBH. 2000–2014. Archived from the original on October 9, 2012. Retrieved June 19, 2014.{{cite web}}: CS1 maint: unfit URL (link)
  3. 1 2 3 4 5 Jerold S. Kayden (November 6, 2000). Privately Owned Public Space: The New York City Experience. John Wiley & Sons. pp. 124–. ISBN   978-0-471-36257-9.
  4. ↑ Andrew Cusack (January 27, 2007). "A Sienese Gem Lost". Andrew Cusack. Andrew Cusack. Retrieved June 19, 2014.
  5. ↑ "Portfolio – Three Park Avenue". Cohen Brothers Realty Corporation. Cohen Brothers Realty Corporation. June 19, 2014. Retrieved June 19, 2014.
  6. ↑ La Guerre, Liam (November 17, 2016). "Under Construction: New Lobby and Façade Designs For 3 Park Avenue". Commercial Observer.
  7. ↑ Grossman, Matt (December 14, 2018). "Cohen Brothers Scores $182M Refi for 3 Park Avenue". Commercial Observer.
  8. ↑ Elstein, Aaron (September 20, 2023). "3 Park Avenue facing downgrade after vacancies jump". Crain's New York Business. Retrieved October 19, 2024.
  9. ↑ Long, Ciara (October 16, 2024). "Charles Cohen Faces Fresh Trouble On Park Avenue". Bisnow. Retrieved October 19, 2024.
  10. ↑ Pascus, Brian (October 17, 2024). "Cohen Brothers' $182M CMBS Loan on 3 Park Avenue in Special Servicing". Commercial Observer. Retrieved October 19, 2024.
  11. ↑ "ComSoc Staff". IEEE Communications Society. IEEE Communications Society. June 19, 2014. Retrieved June 19, 2014.
  12. ↑ "Contact Us". adMarketplace. adMarketplace. June 18, 2014. Archived from the original on August 18, 2013. Retrieved June 18, 2014.
  13. ↑ "Careers". Major League Gaming. Major League Gaming, Inc. June 18, 2014. Retrieved June 18, 2014.
  14. ↑ Kim Bhasin (March 2, 2012). "See What Happens When Major League Gaming Flies In The World's Best Starcraft Players To Battle It Out In NYC". Business Insider. Business Insider Inc. Retrieved June 18, 2014.
  15. ↑ "Contact Us". JCDecaux North America. JCDecaux North America. June 19, 2014. Archived from the original on March 7, 2012. Retrieved June 19, 2014.
  16. ↑ Matthew Gilbert (March 31, 2005). "'Left of the Dial' documentary takes the wrong direction". The Boston Globe. The New York Times Company. Retrieved June 19, 2014.
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