390 Park Avenue

Transaction Summary

  • Initial Transaction Date: July 2018
  • Assumed Property Control: May 2020
  • Asset Type: 260,000 square foot trophy office and retail building.
  • Location: New York, NY

Renovation/Asset Services Overview

  • Formed equity joint venture with Brookfield Property Group to acquire 390 Park Avenue (aka “Lever House”).
  • Lever House is a world-renowned trophy asset designed by Gordon Bunshaft, which commands among the highest office rents in New York City.
  • The building was vacated in 2021 in order to conceptualize and execute a complete renovation to restore the building to the top of the NYC office market.
  • $100M+ renovation of the building was substantially completed in 2023.
  • WP responsible for all aspects of property management, accounting, leasing, and works in a 50/50 partnership with Brookfield on all aspects of the design and renovation of the property.