Global Holdings has completed a $30 million strategic repositioning of 99 Park Avenue, a 600,000-square-foot Class A office tower located near Grand Central Terminal. The international real estate development and investment firm, led by chairman and founder Eyal Ofer, partnered with Vocon, a national architecture and interior design firm, to execute the program.
The repositioning focused on reimagining the building’s arrival experience while preserving and highlighting its Art Deco heritage. The project emphasizes an integration of design and functionality, with Global Holdings aiming to deliver an office environment that feels both energetic and sophisticated for tenants.
According to Chris Roth, COO and head of office asset management at Global Holdings, the work at 99 Park Avenue builds on a series of successful repositionings across the firm’s broader portfolio. He noted that the updated interiors are intended to create a strong sense of arrival and an elevated experience for occupants and visitors alike.
Following the completion of the repositioning, 99 Park Avenue is reported to be 97% leased. Recent leasing activity at the tower includes commitments from wealth management firm Cerity Partners and real estate company Southern Land Company, underscoring ongoing tenant demand for space in the property.
The building’s combination of refreshed common areas, upgraded design and proximity to Grand Central Terminal positions it as a Class A office option for tenants seeking a high-quality workplace in an established office corridor. Global Holdings’ latest investment in 99 Park Avenue reflects the firm’s continued focus on enhancing the performance and tenant appeal of existing assets through targeted capital improvements.
