Former United Charities Building Features Completely Renovated Office and Retail Space Designed by SGA

CL Investment Group, a global real estate investment leader, announced today the launch of leasing at 287 Park Avenue South, a prime nine-story, 121,059-square-foot commercial office building located in Gramercy Park. The iconic former United Charities Building will be entirely renovated by architecture firm SGA. Newmark Grubb Knight Frank is the exclusive office leasing agent, and JLL and Cushman & Wakefield will be responsible for the leasing of the retail space at the property.

“As the second owner in the building’s 125-year history, we are excited about the opportunity to reposition this iconic New York City structure and revitalize it for the 21st century,” said Brendan Liang, Managing Director, CL Investment Group. “With completely renovated contemporary office and retail space, 287 Park Avenue South will be a compelling opportunity for tenants seeking a strategic location in the center of one of New York City’s premier live-work-play environments.”

CL Investment Group, who is redeveloping and repositioning the building, is working closely with SGA to upgrade all building systems. This includes a new stair core, allowing for optimum layouts that will appeal to office tenants’ specific needs for work spaces that complement their distinctive culture and ideally support business operations. With windows surrounding all four facades of the building and a large arched window on the East 22nd Street facade, the existing structure also allows for much more light than competitive office buildings in Manhattan.

“287 Park Avenue South is a prime opportunity for technology and creative companies seeking a presence in the center of Manhattan’s burgeoning tech sector, as well as traditional businesses seeking to enhance their corporate presence,” said Brian Waterman, vice chairman and a principal at Newmark Grubb Knight Frank.

Additional features of the 104,956 square-foot office space include 14-foot ceilings, two lobby entrances, a fulltime doorman and package service center. Each office floor is approximately 13,000 square-feet. There is also a penthouse floor with 22-foot ceilings, an 85-foot long skylight, and private roof terrace. New building systems include HVAC, perimeter heating, telecom, electric, plumbing, fire protection, and an advanced BMS system.

Situated on the corner of East 22nd and Park Avenue South, 287 Park Avenue South is a prime location for retail tenants. 16,103 square-feet of dedicated retail space will be divided into three rentable areas, each with a private entrance. For retailers seeking a desirable Park Avenue South presence, JLL is leading leasing for the 2,028 square-feet alongside 59 feet of Park Avenue South’s flourishing retail corridor.

With the formal address of 101 East 22nd Street, there is a 6,523 square-foot retail space with 75 feet of frontage on 22nd Street, featuring 28-foot vaulted ceilings with decorative crown molding, and the capacity to include a commercial kitchen, suitable for a restaurant, café, or high-end retailer. A 7,552 square-foot cellar, with 11-foot ceilings and elevator access, is also available for retail leasing.

“Utilizing state-of-the art design technology, we are able to identify optimum layouts for potential tenants and demonstrate a variety of layout possibilities in three dimensions,” said Brooks Kendall Slocum, Studio Manager, SGA. “With an understanding of the tenants’ requirements, we can more easily customize layouts in the early stages of design and present them in a visual style that is easy to understand.”

287 Park Avenue South is CL Investment Group’s latest commercial project in Manhattan. Their other New York projects include 555 West End Avenue, a school-to-condo conversion at 555 West End developed with Tamarkin Co., and The Kent, located at 200 East 95th Street, developed with partner Extell Development Company, featuring two- to five-bedroom condominium residences.

For more information on office leasing, please contact Brian Waterman, NGKF at 212-372-2000. For Park Avenue South retail inquiries, please contact JLL’s Greg Covey and Amy Zhen at 212-292-7590 or 212-418-2651; and for the 109 East 22nd Street retail space, contact Michael Azarian from C&W at 212-841-7831.

About CL Investment Group

CL Investment Group is an active participant in the New York City real estate market and offers a broad range of services and expertise, including development project management, investment management, asset management, property management, accounting services, and consulting services. In addition to 287 Park Avenue South, CL Investment Group has joined with Extell Development Company, Magnum Real Estate Group, and Tamarkin Co. to develop nearly one-million square feet of real estate in New York City.

About SGA

SGA is an architecture, interior design, planning, Virtual Design and Construction, and branded environments practice founded in 1991. With over 70 professionals in New York and Boston, SGA embodies tech-forward design that redefines how projects are visualized and delivered. SGA’s team-first approach, and trademark creativity, has resulted in over 300M SF of successful and innovative commissions.

About Newmark Grubb Knight Frank

Newmark Grubb Knight Frank (NGKF) is one of the world's leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF's 14,100 professionals operate from more than 400 offices in established and emerging property markets on six continents. With roots dating back to 1929, NGKF's strong foundation makes it one of the most trusted names in commercial real estate. NGKF's full-service platform comprises BGC's real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $136 billion. At the end of the first quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of more than 78,000. As of March 31, 2017, LaSalle Investment Management had $58.0 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.

About Cushman and Wakefield

Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 45,000 employees in more than 70 countries help occupiers and investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. 2017 marks the 100-year anniversary of the Cushman & Wakefield brand. 100 years of taking our clients’ ideas and putting them into action. To learn more, visit www.cushwakecentennial.com, www.cushmanwakefield.com or follow @CushWake on Twitter.