# NEW YORK | 405 Park Avenue | FT | FL **URL:** \ **Category:** Proposed\ **Created:** [March 1, 2018, 9:32pm UTC](https://forum.newyorkyimby.com/t/new-york-405-park-avenue-ft-fl/4213 "2018-03-01T21:32:07Z")\ **Posts on this page:** 20\ **Page:** 1
**Author:** ![YIMHudson](https://sea1.discourse-cdn.com/flex019/user_avatar/forum.newyorkyimby.com/yimhudson/32/2304_2.png) [@YIMHudson](https://forum.newyorkyimby.com/u/YIMHudson)\ **Post date:** [March 1, 2018, 9:32pm UTC](https://forum.newyorkyimby.com/t/new-york-405-park-avenue-ft-fl/4213/1 "2018-03-01T21:32:07Z")
> **[St. Patrick’s Cathedral | Midtown East Rezoning | 405 Park Avenue](https://therealdeal.com/new-york/2018/03/01/owners-of-405-park-buying-30k-sf-of-air-rights-from-st-patricks/)** > > The owners of 405 Park Avenue are buying 30,000 square feet of air rights from St. Patrick’s Cathedral for about $10 million, the second deal under the city’s Midtown East rezoning. MRP Realty and Deutsche Bank Asset Management teamed up to buy 405... > The owners of 405 Park Avenue are buying 30,000 square feet of air rights from St. Patrick’s Cathedral for about $10 million, the second deal under the city’s Midtown East rezoning. > MRP Realty and Deutsche Bank Asset Management teamed up to buy 405 Park Avenue in 2016 for $240 million and now plan to **add four floors and 205,000 square feet of office space to the building** with the air rights purchase, according to Crain’s. > […] > The building now stands 17 stories tall, and **the companies are also planning a gut renovation of the property, making improvements to the façade and the lobby.** ![](https://us1.discourse-cdn.com/flex019/uploads/yimby/original/3X/a/c/ac90de439bf112049ab405283af7500d93180b5e.jpeg) ---
**Author:** ![robertwalpole](https://sea1.discourse-cdn.com/flex019/user_avatar/forum.newyorkyimby.com/robertwalpole/32/15739_2.png) [@robertwalpole](https://forum.newyorkyimby.com/u/robertwalpole)\ **Post date:** [March 1, 2018, 9:51pm UTC](https://forum.newyorkyimby.com/t/new-york-405-park-avenue-ft-fl/4213/2 "2018-03-01T21:51:05Z")
This sucks. This pos should hAve been razed. ---
**Author:** ![Tectonic](https://sea1.discourse-cdn.com/flex019/user_avatar/forum.newyorkyimby.com/tectonic/32/186763_2.png) [@Tectonic](https://forum.newyorkyimby.com/u/Tectonic)\ **Post date:** [March 2, 2018, 2:58pm UTC](https://forum.newyorkyimby.com/t/new-york-405-park-avenue-ft-fl/4213/3 "2018-03-02T14:58:09Z")
Indeed. ---
**Author:** ![robertwalpole](https://sea1.discourse-cdn.com/flex019/user_avatar/forum.newyorkyimby.com/robertwalpole/32/15739_2.png) [@robertwalpole](https://forum.newyorkyimby.com/u/robertwalpole)\ **Post date:** [March 2, 2018, 3:09pm UTC](https://forum.newyorkyimby.com/t/new-york-405-park-avenue-ft-fl/4213/4 "2018-03-02T15:09:42Z")
A Stern there would have been a blockbuster. ---
**Author:** ![Tectonic](https://sea1.discourse-cdn.com/flex019/user_avatar/forum.newyorkyimby.com/tectonic/32/186763_2.png) [@Tectonic](https://forum.newyorkyimby.com/u/Tectonic)\ **Post date:** [March 2, 2018, 3:19pm UTC](https://forum.newyorkyimby.com/t/new-york-405-park-avenue-ft-fl/4213/5 "2018-03-02T15:19:40Z")
HA! I was thinking the same thing. Even as offices. ---
**Author:** ![robertwalpole](https://sea1.discourse-cdn.com/flex019/user_avatar/forum.newyorkyimby.com/robertwalpole/32/15739_2.png) [@robertwalpole](https://forum.newyorkyimby.com/u/robertwalpole)\ **Post date:** [March 2, 2018, 3:25pm UTC](https://forum.newyorkyimby.com/t/new-york-405-park-avenue-ft-fl/4213/6 "2018-03-02T15:25:25Z")
These guys are idiots . Millions of sf of new space is coming on line. No one will pay $100/sf for this crap. ---
**Author:** ![YIMHudson](https://sea1.discourse-cdn.com/flex019/user_avatar/forum.newyorkyimby.com/yimhudson/32/2304_2.png) [@YIMHudson](https://forum.newyorkyimby.com/u/YIMHudson)\ **Post date:** [August 10, 2018, 3:56pm UTC](https://forum.newyorkyimby.com/t/new-york-405-park-avenue-ft-fl/4213/7 "2018-08-10T15:56:11Z")
still sad that this won’t be razed. I hope its a complete overhaul. > **[405 Park Avenue | The Brook | St. Patrick’s Cathedral](https://therealdeal.com/new-york/2018/08/09/the-last-rites-st-patricks-deal-blocked-by-exclusive-mens-club/)** > > If there was a commandment for not coveting thy neighbor’s air rights deal, The Brook would face damnation. > If there was a commandment for not coveting thy neighbor’s air rights deal, The Brook would face damnation. The exclusive private men’s club agreed to sell its unused development rights to the owners of 405 Park Avenue, scuttling a previous agreement with St. Patrick’s Cathedral and costing the church millions. > Because its property sits right next to 405 Park, the club can sell its air rights under pre-rezoning rules and doesn’t have to pay into a city fund for public upgrades. ---
**Author:** ![robertwalpole](https://sea1.discourse-cdn.com/flex019/user_avatar/forum.newyorkyimby.com/robertwalpole/32/15739_2.png) [@robertwalpole](https://forum.newyorkyimby.com/u/robertwalpole)\ **Post date:** [August 10, 2018, 4:02pm UTC](https://forum.newyorkyimby.com/t/new-york-405-park-avenue-ft-fl/4213/8 "2018-08-10T16:02:51Z")
What an utter waste. The original building was gorgeous. > **[405 Park Avenue buys St. Patrick's air rights for a glassy upgrade](https://www.archpaper.com/2018/03/405-park-avenue-glassy-upgrade-st-patricks-air-rights/)** > > 405 Park Avenue will buy air rights from St. Patrick's Cathedral and follow 270 Park Avenue to become the second building enlarged under the East Midtown Rezoning plan. ---
**Author:** ![YIMHudson](https://sea1.discourse-cdn.com/flex019/user_avatar/forum.newyorkyimby.com/yimhudson/32/2304_2.png) [@YIMHudson](https://forum.newyorkyimby.com/u/YIMHudson)\ **Post date:** [February 19, 2020, 1:58pm UTC](https://forum.newyorkyimby.com/t/new-york-405-park-avenue-ft-fl/4213/9 "2020-02-19T13:58:41Z")
next door, the coop has been bought out by a different team. > **[Klövern AB, GDS Development Buy 417 Park Avenue for $184M](https://therealdeal.com/2020/02/18/gds-klovern-buy-midtown-east-co-op-for-184m/)** > > Klövern AB and GDS Development Management close on 29 units at 417 Park Avenue for $184 million, buoyed by the Midtown East rezoning. ---
**Author:** ![crawdad](https://avatars.discourse-cdn.com/v4/letter/c/2acd7d/32.png) [@crawdad](https://forum.newyorkyimby.com/u/crawdad)\ **Post date:** [February 19, 2020, 5:33pm UTC](https://forum.newyorkyimby.com/t/new-york-405-park-avenue-ft-fl/4213/10 "2020-02-19T17:33:03Z")
Great news. Now hopefully we’re getting a new full-block office tower, under the new Grand Central upzoning. ---
**Author:** ![robertwalpole](https://sea1.discourse-cdn.com/flex019/user_avatar/forum.newyorkyimby.com/robertwalpole/32/15739_2.png) [@robertwalpole](https://forum.newyorkyimby.com/u/robertwalpole)\ **Post date:** [February 19, 2020, 5:36pm UTC](https://forum.newyorkyimby.com/t/new-york-405-park-avenue-ft-fl/4213/11 "2020-02-19T17:36:09Z")
How? The sites are owned by different companies. ---
**Author:** ![YIMHudson](https://sea1.discourse-cdn.com/flex019/user_avatar/forum.newyorkyimby.com/yimhudson/32/2304_2.png) [@YIMHudson](https://forum.newyorkyimby.com/u/YIMHudson)\ **Post date:** [February 19, 2020, 6:39pm UTC](https://forum.newyorkyimby.com/t/new-york-405-park-avenue-ft-fl/4213/12 "2020-02-19T18:39:39Z")
Unless the entities are somehow related (which I’m not aware of) then either of the two will ask the other an exorbitant price for their building’s air rights or a purchase, so I doubt that would happen. I suppose they could form a new team between all of the players, but there’d be a lot of heads to divide up the eventual profit among. Too many cooks spoil the broth. ---
**Author:** ![DeSelby](https://avatars.discourse-cdn.com/v4/letter/d/df705f/32.png) [@DeSelby](https://forum.newyorkyimby.com/u/DeSelby)\ **Post date:** [March 4, 2020, 1:40pm UTC](https://forum.newyorkyimby.com/t/new-york-405-park-avenue-ft-fl/4213/13 "2020-03-04T13:40:14Z")
This building is being put up for sale. Hopefully the company that’s redeveloping 417 Park next door will buy it and make a new full-block tower. > **[Park Avenue office building hits the market for $350M](https://www.crainsnewyork.com/real-estate/park-avenue-office-building-hits-market-350m)** > > The partnership that owns 405 Park Ave. has put the 17-story office building on the market. The sale of the building, on the corner of East 54th Street, could fetch more than $350 million, a source said. > > MRP Realty and the $6.7 billion public real... ---
**Author:** ![Oppix56](https://sea1.discourse-cdn.com/flex019/user_avatar/forum.newyorkyimby.com/oppix56/32/26099_2.png) [@Oppix56](https://forum.newyorkyimby.com/u/Oppix56)\ **Post date:** [March 12, 2020, 12:34am UTC](https://forum.newyorkyimby.com/t/new-york-405-park-avenue-ft-fl/4213/14 "2020-03-12T00:34:10Z")
417 on its way to being empty 2 more units sold: > **[As GDSNY buys out Park Avenue co-op for redevelopment, deals in...](https://www.cityrealty.com/nyc/market-insight/features/future-nyc/as-gdsny-buys-out-park-avenue-co-op-redevelopment-deals-pre-war-inspired-buildings-dominate-top-sales-contracts/42381)** > > 220 Central Park South & The Centrale, 138 East 50th Street : While it is far too soon to say what effect the coronavirus will have on the New York real estate market, there are a few things we can say with hope 405 goes and 417 is built around (stern could do a good job) / or cantilevered over (other architects) ---
**Author:** ![Oppix56](https://sea1.discourse-cdn.com/flex019/user_avatar/forum.newyorkyimby.com/oppix56/32/26099_2.png) [@Oppix56](https://forum.newyorkyimby.com/u/Oppix56)\ **Post date:** [July 10, 2020, 1:34pm UTC](https://forum.newyorkyimby.com/t/new-york-405-park-avenue-ft-fl/4213/15 "2020-07-10T13:34:29Z")
Not sure if this needs its own thread. I hope these sites are combined if 417 has to go. > **[Demo Permits Filed for 417 Park Avenue in Midtown East, Manhattan - New York...](https://newyorkyimby.com/2020/07/demo-permits-filed-for-417-park-avenue-in-midtown-east-manhattan.html)** > > YIMBY has the latest demolition permits filed for 417 Park Avenue in Midtown, Manhattan. ---
**Author:** ![Waymond\_Womano](https://sea1.discourse-cdn.com/flex019/user_avatar/forum.newyorkyimby.com/waymond_womano/32/7078_2.png) [@Waymond\_Womano](https://forum.newyorkyimby.com/u/Waymond_Womano)\ **Post date:** [January 19, 2021, 4:56pm UTC](https://forum.newyorkyimby.com/t/new-york-405-park-avenue-ft-fl/4213/16 "2021-01-19T16:56:31Z")
> **[Permits Filed To Demolish 17-Story Park Avenue Building](https://patch.com/new-york/midtown-nyc/permits-filed-demolish-17-story-park-avenue-building)** > > The Midtown office building will reportedly be rebuilt into a taller tower after owners purchased air rights from St. Patrick's Cathedral. ---
**Author:** ![Oppix56](https://sea1.discourse-cdn.com/flex019/user_avatar/forum.newyorkyimby.com/oppix56/32/26099_2.png) [@Oppix56](https://forum.newyorkyimby.com/u/Oppix56)\ **Post date:** [January 19, 2021, 5:35pm UTC](https://forum.newyorkyimby.com/t/new-york-405-park-avenue-ft-fl/4213/17 "2021-01-19T17:35:49Z")
Glad to see this building go, probably the least worthy of its address in Manhattan! ---
**Author:** ![YIMHudson](https://sea1.discourse-cdn.com/flex019/user_avatar/forum.newyorkyimby.com/yimhudson/32/2304_2.png) [@YIMHudson](https://forum.newyorkyimby.com/u/YIMHudson)\ **Post date:** [April 25, 2021, 5:50pm UTC](https://forum.newyorkyimby.com/t/new-york-405-park-avenue-ft-fl/4213/18 "2021-04-25T17:50:45Z")
death shroud over 417. Maybe we should open a new thread, no signals of these lots being combined. photos by [A Chicagoan](https://www.skyscrapercity.com/threads/new-york-425-park-avenue-262m-860ft-44-fl-t-o.1507946/page-30#post-173117251) on SSC ![](https://us1.discourse-cdn.com/flex019/uploads/yimby/original/3X/b/9/b9bb44eb9ec5881df1115b1a1e3ee7bca17289ec.jpeg) ![](https://us1.discourse-cdn.com/flex019/uploads/yimby/original/3X/f/6/f64b684bc759f987ec8ffdfcd0c3e379457f6316.jpeg) ---
**Author:** ![robertwalpole](https://sea1.discourse-cdn.com/flex019/user_avatar/forum.newyorkyimby.com/robertwalpole/32/15739_2.png) [@robertwalpole](https://forum.newyorkyimby.com/u/robertwalpole)\ **Post date:** [April 25, 2021, 6:09pm UTC](https://forum.newyorkyimby.com/t/new-york-405-park-avenue-ft-fl/4213/19 "2021-04-25T18:09:43Z")
![image](https://us1.discourse-cdn.com/flex019/uploads/yimby/original/3X/2/3/238f81b6bce4b02ceb1674938ef23d6394baf67a.gif) ![image](https://us1.discourse-cdn.com/flex019/uploads/yimby/original/3X/f/6/f61931e7d1c943887edf2162b681decee6b11a2d.gif) ![image](https://us1.discourse-cdn.com/flex019/uploads/yimby/original/3X/a/5/a5b25e03d8628fb79aa80319f83597d0e5370ab2.gif) ---
**Author:** ![YIMHudson](https://sea1.discourse-cdn.com/flex019/user_avatar/forum.newyorkyimby.com/yimhudson/32/2304_2.png) [@YIMHudson](https://forum.newyorkyimby.com/u/YIMHudson)\ **Post date:** [April 25, 2021, 6:32pm UTC](https://forum.newyorkyimby.com/t/new-york-405-park-avenue-ft-fl/4213/20 "2021-04-25T18:32:52Z")
I’m holding out on celebrating because I’m not sure somebody can whip up a worthy successor to this building. It’s probably going to be a slender box like 343 Madison, but half the height. [Next page](https://forum.newyorkyimby.com/t/new-york-405-park-avenue-ft-fl/4213.md?page=2)