Whoever buys HNA Group’s 245 Park Avenue will have to invest hundreds of millions of dollars in order to modernize the 1960s-era trophy tower and attract new tenants. With tenants like Major League Baseball moving to Sixth Avenue, CoStar data show a new owner will be facing vacancies of roughly 13 percent, according to Bloomberg News. And the building’s largest tenant, JPMorgan – which occupies 40 percent of the tower – is constructing a new […]
source https://therealdeal.com/2018/03/19/new-245-park-owner-will-have-to-spend-big-to-modernize-1960s-era-tower/
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