277 Park Avenue

277 Park Avenue is an office building in the Midtown Manhattan neighborhood of New York City. It stands on the east side of Park Avenue between East 47th and 48th Streets, and is 687 feet (209 m) tall, with 50 floors.[2] It is tied with two other buildings, 55 Water Street and 5 Beekman Street, as the 73rd tallest building in New York.

277 Park Avenue
277 Park Avenue
General information
Status	Complete
Type	Office
Location	277 Park Avenue, Manhattan, New York City, New York
Coordinates	40.755515°N 73.975153°W
Construction started	1962
Completed	1964
Opening	July 13, 1964
Owner	Stahl Organization
Management	Stahl Organization
Height
Roof	687 ft (209 m)
Technical details
Floor count	50
Floor area	1,767,499 sq ft (164,206.0 m^2)[1]
Design and construction
Architect	Emery Roth & Sons
Developer	Stanley Stahl

The building currently houses parts of JPMorgan Chase's Investment Bank, Commercial Bank, and other corporate functions. JP Morgan's takeover of Bear Stearns in 2008 resulted in most investment banking employees moving to 383 Madison Avenue to reduce the leased real estate footprint in Midtown. 277 Park Avenue remains under the ownership of the family-owned Stahl Organization, the building's original developer.[3] Previous tenants have included Penthouse Magazine, Schlumberger, Donaldson, Lufkin & Jenrette,[4] and Chemical Bank (predecessor to JPMorgan Chase).

The office building opened on July 13, 1964.[5] An apartment building designed by McKim, Mead, and White previously occupied the site.[6] One tenant of that building was the presidential campaign of John F. Kennedy.[7] Prior to the construction of the McKim, Mead and White building, the block was among the landholdings of Elizabeth Goelet Kip and her son George Goelet Kip.[8] In the 1870s, as part of the expansion of nearby Grand Central Depot, the land was subject to a protracted legal battle which resulted in Elizabeth Kip being forced by eminent domain to sell the land to the New York and Harlem Railroad for $212,500.[9][10]

Tenants

• Academy Securities[11]
• Australia and New Zealand Banking Group[12]
• Bregal Investments[13]
• Bregal Partners[14]
• Bregal Sagemount[15]
• Cassidy Turley
• CCMP Capital[16]
• Cozen O’Connor[17]
• The Hartford[18]
• JPMorgan Chase
• Sumitomo Mitsui Banking Corporation[19]
• Continental Grain Company
• MHP Real Estate Services
• Agricultural Bank of China[20]
• Bank of India, US Operations[21]
• Raymond James & Associates[22]
• Ladenburg Thalmann & Co. Inc.[23]

See also

• List of tallest buildings in New York City

References

1. "277 Park Avenue". Skyscraper Center. CTBUH. Retrieved September 14, 2017.
2. "277 Park Avenue". aviewoncities.com. Retrieved March 13, 2010.
3. "Stanley Stahl, a Bank Owner And Real Estate Investor, 75". The New York Times. August 6, 1999. Retrieved July 17, 2014.
4. Bagli, Charles V. (December 2, 2000). "Chase Says It Has Deal for Park Avenue Spot". The New York Times. Retrieved March 13, 2010.
5. "Chemical Bank Opens Doors of Tower on Park Avenue". The New York Times. July 13, 1964. Retrieved March 13, 2010.
6. Gray, Christopher (March 17, 1991). "A Vanished Circular Driveway, an Old Brochure". The New York Times. Retrieved March 13, 2010.
7. John F Kennedy campaign The Daily What
8. "Kip Heirs Sue on Realty" (PDF). The New York Times. August 16, 1929. Retrieved December 6, 2018.
9. Appeals, Court of (1870). "New York and Harlem Railroad vs. Elbert S. Kip and Elizabeth Kip". books.google.com. Retrieved December 6, 2018.
10. "The Value of a Block" (PDF). The New York Times. January 14, 1880. Retrieved December 6, 2018.
11. "Home". Academy Securities.
12. "ANZ USA". www.institutional.anz.com.
13. "Contact | Bregal Investments". www.bregal.com.
14. "Bregal Partners | Contact".
15. "Bregal Sagemount | Contact". sagemount.com.
16. "Homepage - CCMP Capital Advisors, LP". CCMP Capital Advisors, LP.
17. "Leases Pending for Part of Midtown's Biggest Sublease Space". October 6, 2009.
18. "The Hartford takes two floors at 277 Park Avenue". Archived from the original on February 2, 2017. Retrieved October 7, 2012.
19. "New York". www.smbcgroup.com. Archived from the original on November 16, 2016. Retrieved November 16, 2016.
20. "Contact Us_Agricultural Bank of China(US)". www.us.abchina.com.
21. "Bank of India-USA". www.boiusa.com.
22. "Raymond James | LIFE WELL PLANNED". www.raymondjames.com.
23. "Ladenburg Thalmann & Co. Inc. :: Ladenburg Thalmann Financial Services Inc. (LTSA)". www.ladenburg.com.