The Korea International Trade Association (KITA) has initiated a $200 million redevelopment program to reposition 460 Park Ave. as a next-generation office destination. The project is intended to transform the existing property into a boutique workplace, with a focus on elevating performance, design and user experience for office occupiers.
KITA has engaged a JLL team to oversee marketing and leasing efforts at the building. The assignment is being led by vice chairmen Dave Kleiner, Frank Doyle and Cynthia Wasserberger, along with senior vice president Michael Pallas. Their mandate is to bring the upgraded asset to market and attract office tenants seeking modern space in a prominent Park Avenue location.
Describing the vision for the property, Jimin Paik, president of the Hahn Kook Center, a KITA affiliate, said the team is “reimagining 460 Park Ave. with a focus on quality, performance and experience.” According to Paik, the redevelopment aims to deliver a workplace defined by abundant natural light, modern infrastructure and thoughtfully integrated indoor-outdoor areas, positioning the building as a boutique environment with durable quality.
Paik added that the end result is intended to reflect the “prestige and purpose” associated with Park Avenue, underscoring the project’s emphasis on both design and operational standards. The planned upgrades are framed around providing a high-end environment that supports contemporary office requirements while maintaining a strong address identity.
Sustainability, wellness and digital connectivity are central components of the repositioning strategy. The project is targeting LEED Gold certification, signaling a focus on energy efficiency and environmental performance. It is also pursuing WELL certification, highlighting an emphasis on occupant health and well-being, and WiredScore Platinum, which reflects a goal of best-in-class building connectivity and technology infrastructure.
The redevelopment at 460 Park Ave. has been selected as the third awardee under the Manhattan Commercial Revitalization Program, known as M-CORE. This initiative is designed to support the transformation of properties within the city’s commercial business districts, with an eye toward modernizing aging stock and reinforcing the competitiveness of key office corridors.
By combining a significant capital program with a strong leasing and marketing team and a set of ambitious sustainability and technology targets, KITA’s repositioning of 460 Park Ave. aligns with broader efforts to refresh older office assets and respond to evolving tenant expectations in established business districts.
