Demolition is complete at 405 Park Avenue, the site of a possible new skyscraper in Midtown East, Manhattan. No architect or details have been revealed for the forthcoming structure, which is being developed by MRP Realty, though the breadth of the plot suggests that it will likely support an office tower yielding several hundred thousand square feet. Titan Industrial SVC Corp. is the demolition contractor for the property, which is located at the corner of Park Avenue and East 54th Street.
The remainder of the 17-story former occupant of the property has been razed since our last update in December, and recent photos show crews clearing away the final portion of the ground floor along East 54th Street. Large piles of debris from the demolition cover the site and will need to be hauled away before excavation can begin.
405 Park Avenue Photo by Michael Young
405 Park Avenue Photo by Michael Young
405 Park Avenue Photo by Michael Young
405 Park Avenue Photo by Michael Young
405 Park Avenue Photo by Michael Young
405 Park Avenue Photo by Michael Young
405 Park Avenue Photo by Michael Young
405 Park Avenue Photo by Michael Young
405 Park Avenue Photo by Michael Young
Below are images that show the final section of the old building just before it was completely brought down.
405 Park Avenue Photo by Michael Young
405 Park Avenue Photo by Michael Young
405 Park Avenue Photo by Michael Young
405 Park Avenue Photo by Michael Young
405 Park Avenue Photo by Michael Young
405 Park Avenue Photo by Michael Young
405 Park Avenue Photo by Michael Young
405 Park Avenue Photo by Michael Young
405 Park Avenue Photo by Michael Young
405 Park Avenue Photo by Michael Young
405 Park Avenue Photo by Michael Young
The property is located directly to the south of 417 Park Avenue, which has been cleared since last summer and will give rise to a 220,000-square-foot office tower developed by GDS Development (GDSNY) and Klövern AB, which acquired the property for $184 million. This structure will feature a floor area ratio of 25 under the Midtown East Rezoning regulations. The property is currently occupied by dumpsters being used to haul away debris.
405 Park Avenue Photo by Michael Young
MRP Realty originally filed permits to renovate and expand the former 17-story occupant of the plot with air rights purchased from St. Patrick’s Cathedral. These air rights will still likely be used in the new ground-up development.
405 and 417 Park Avenues are located in close proximity to a number of subways including the E and M trains at the Fifth Avenue-53rd Street and Lexington Avenue-53rd Street stations, as well as the 6 train at the 51st Street station.
No construction timeline has been announced for 405 Park Avenue.
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RIP
Since there are no immediate plans for a new tower, I would open up the lot-line windows on those adjacent town houses. Why not enjoy some temporary sunlight and a Park Ave view.
Yes, it’s almost spring, let the sun shine in!
🌞 🌷🪻⚘️🌹
Omar, I am sure the tenants would enjoy it if you were to underwrite the cost for their temporary windows and pay to have them resealed in the near future. While you are at it, the windows in my Coop apt have failed….care to pay for new ones as my Coop refuses and they own them! (32 yr old Marvin’s that meet Landmarks requirements).
What an unfortunate loss. That building still looked good.
another glaring example of an iconic stone building being demolished instead of reusing the existing building and saving it.
So sad
maybe the old building was riddled with termites, who knows.
He thinks he knows everything…
Clearly he (guesser) knows nothing but is filled with hate and envy.
Photos of a crime scene.
Oh, the drama!