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245 Park Ave Could Fetch Over $2B

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245 Park Avenue
245 Park Ave. in Midtown Manhattan

This year’s first marquee Midtown office tower to hit the market is 245 Park Ave.

The 1.8M SF trophy office tower could fetch over $2B, according to the New York Post. If the ownership gets that much for the building, the price would work out to more than $1,100/SF.

News first broke in the fall that Brookfield Property Partners and the New York State Teachers’ Retirement System were planning to put the building up for sale.

Per the Post, CBRE’s Darcy Stacom and Bill Shanahan have started their marketing campaign for the property since the start of the new year.

Major League Baseball is among the building’s tenants, but it's preparing to move its 220k SF HQ operation from 245 Park Ave, and consolidate with its downtown offices, to 400k SF at 2171 Sixth Ave. [NYP]