SJP Properties Unveils Plans for New, Gensler-Desgined Tenant Amenities at 470 Park Avenue South
Purpose-built amenity spaces include private outdoor area with fire pits, social lounge area and cafe with a boutique communal aesthetic; Pre-built office space also announced
NEW YORK CITY – SJP Properties today unveiled the design of new amenity spaces and an entire floor of pre-built office space as part of its initiative to create a modern, purpose-built work environment for tenants of 470 Park Avenue South in Manhattan. The building-wide amenity spaces will occupy the reclaimed, previously unused ground floor space adjacent to the main lobby.
Keeping comfort and collaboration in mind, SJP has partnered with renowned architecture firm Gensler to create The Club at 470, comprised of three distinct common areas for the building’s tenants: a ground-floor, private outdoor space with fire pits and seating; a social lounge with gaming capabilities; and a coffee bar and cafe. The ground-floor interior amenity spaces will feature natural materials such as white oak and leather paneling, along with exposed brick and concrete for an urban-yet-upscale atmosphere in both the social lounge and cafe areas. SJP has plans to bring in a third-party vendor to program quality barista service, snacks and light bites for tenants.
The private outdoor space with fire pits, seating and a zen garden will stand in place of a reclaimed vacant alleyway on the west side of the building and will be accessible from the lobby through a contemporary glass door. Both the indoor and outdoor space will be available for after-hours meetings, happy hours, and more.
“We are selectively repurposing previously unusable square footage inside this historic building to create a culture through these amenities, which should help our tenants better attract and retain engaged and productive talent,” said Zach Freeman, Senior Vice President at SJP Properties. “Today’s workforce is demanding a superior office environment where they can work and convene in places other than the conference room, and we’re excited to bring this offering to the Midtown South market.”
By designing relaxing, sophisticated amenity spaces that complement the legacy of the neighborhood, SJP seeks to create a diverse yet connected tenant ecosystem of collaborative workspaces that cultivates employee engagement within 470 Park Avenue South.
On the building’s seventh floor, SJP has created a full pre-built floor totaling 10,000 square feet that will be completed this month. SJP will also offer a private rooftop terrace amenity for future 14th and 15th floor tenants, which will be included in an office lease and designed for tenant needs.
Work on 470 Park Avenue South’s amenity spaces began in June with delivery expected in Q4 of 2019. SJP first acquired the 301,178-square-foot, Class A office and retail building from Norges Bank Real Estate Management and TH Real Estate in December 2018. 470 Park Avenue South is currently over 83 percent leased, with approximately 50,000 square feet across five floors throughout the building available for prospective tenants.
The Park Avenue South neighborhood where 470 Park Avenue South is located encompasses a mix of loft properties and historic buildings and boasts top-of-the-line lifestyle amenities: fitness options such as Equinox and SoulCycle; high-end retailers; upscale residential development; trendy bars and eateries like Upland, Simon and the Whale, and The Clocktower; and boutique hotels like Mondrian Park Avenue, The Edition, The NoMad, Royalton Park Avenue and The James NoMad. The neighborhood facilitates a seamless experience, allowing the modern workforce to travel from the gym to the office to happy hour and back home without sacrificing quality of life for convenience.
With immediate access to the 6 Train underneath the building and just a 10-minute walk from Grand Central Terminal, 470 Park Avenue provides easy access to the 4, 5, 6, 7 and S subway lines and the Metro-North Railroad. It is also a 10-minute walk to Penn Station, with access to the 1, 2, 3, A, C and E subway lines, Amtrak, PATH, LIRR, and NJ Transit railroads.
About SJP Properties
Founded in 1981, SJP Properties is a privately held, vertically integrated real estate company specializing in the development, management and operation of luxury residential and Class A commercial properties in the New York Metropolitan region. Well known for the creation of unparalleled lifestyle-focused developments, SJP’s residential arm is committed to meticulous design, engineering development plans that reflect a keen understanding of market demand. The company has been responsible for the development of numerous award-winning properties, with broad-based expertise that includes ground-up development, redevelopment, repositioning and renovation for highly complex single and multi-phase communities.
SJP’s leadership has established relationships with many of the industry’s leading investors and financial institutions, as well as world-class architects, consultants and construction firms to ensure precise delivery of properties that incorporate the latest amenities and technology advancements for today’s discerning residents. For more information, please call 212-335-2200 or visit www.sjpproperties.com.
