Park Avenue

Midtown East, real estate trends

view of metlife building from the south on park avenue

Park Avenue has for decades been the office district of choice for many of the city’s high-profile–and high-rent–corporations. But a recent Crain’s article points to impending departures–such as the decision of investment firm Black Rock to decamp for new space in Hudson Yards or the World Trade Center, raising the question of whether the avenue’s biggest office zone, from East 45th to East 59th streets, is falling out of favor with big-ticket business tenants.

The city’s office market is, without a doubt, changing. Industries like tech are growing and the financial industry is consolidating and in some cases downsizing its office space. The neighborhood, which charges the city’s highest average rents, has been slow to catch up with the needs of new office tenants.

People moving out, people moving in

Daily Link Fix

fairy doors, Speakeasy Dollhouse, Cynthia von Buhler
  • Fairy Doors Are Magically Appearing in the City: If you’re hesitant to purchase one of NYC’s multi-million dollar offerings, perhaps you’d like one of these smaller dwellings. Kidding. Untapped Cities gets to the bottom of the fairy doors that have been popping up all over city.
  • A Box That Can Hold All Your Netflix: Binge viewers behold! Gizmodo spotlights a box that can hold years worth of Netflix HD video. And it’s only 100 lbs… which means you can work out before you binge view.
  • A Traveling Circus Of… Architects?: Circus for Construction is bringing circus back with traveling art and architecture exhibits and Architizer tells us more about the tour.
  • In the Navy: A decommissioned Navy ship has set up park in Brooklyn and will begin taking visitors this weekend. If you want to know where to learn the ropes of operating a military vessel, the Brooklyn Paper tells you where to go.

Images: Fairy Doors (left), Traveling Architecture Circus (right)

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