387 Park Ave S, New York, NY, Class B Office Building For Lease

387 Park Ave S, New York, NY, Class B Office Building For Lease

387 Park Ave S, New York, NY, 10016

Cross Streets are: E 28th St and E 27th St

13 Story Class B Office Building

Multiple floors available for lease

Located on the northeast corner of Park Avenue South and East 27th Street, 387 Park Avenue South is a 230,000-square-foot office and retail property positioned ideally between Union Square and Grand Central Terminal. The building offers dual lobby access — one from Park Avenue South and another from East 27th Street — along with generous floor plates of nearly 20,000 square feet.

A comprehensive $20+ million renovation, completed by TF Cornerstone in 2017 and led by Moed de Armas & Shannon Architects, transformed the property with modernized lobbies, upgraded mechanical systems, and a refreshed facade. The improvements introduced brand-new elevators and building infrastructure, plus a private, state-of-the-art rooftop deck featuring a 1,700-square-foot glass skybox conference space.

Tenants on the first two office levels benefit from an all-glass facade enveloping the lower three floors, creating a bright, contemporary work environment. The retail spaces enjoy steady pedestrian activity and visibility in one of Manhattan’s few true live-work-play districts.

In 2024, Gramercy Park office space rents for Class B buildings: generally range between $45–65 per square foot.

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Property Details

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• Some space are fully built out with furniture
• Some space just open floors
• Total floors: 13
• Total Building Size: 230,000 SF
• Typical Floor Size: 16,457 SF
• Available space on multiple floors for lease at affordable rates
• Sizes from 19,300 SF up to 39,100 SF
• Floor:  10th
• Year Built: 1910
• Year Renovated: 2017

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Building Amenities

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• Property Manager on Site
• Energy Star Labeled

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Notable tenants at this location

• TF Cornerstone, Inc
• Criteo
• Atrium
• Corcoran
• FCB

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Transportation in Park Avenue

This region includes transportation to Grand Central Terminal serviced by Metro North, East Side 4, 5, and 6 trains, and the seven shuttles. The highly-trafficked Park Avenue transportation tunnel also benefits from various public transportation options.

East Side IRT subway has express and local stops all along Lexington Avenue, a block to the east. Fortunately, this entire stretch of Park Avenue sits on top of the tracks and platforms of Grand Central Terminal.

Lexington Avenue Line

Apple green

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