245 Park Avenue is asking $145 per square foot — a figure grounded in both location and capital investment. At 1.7 million square feet, it is one of Midtown's largest office towers, positioned directly across from Grand Central Terminal on Park Avenue's most competitive corridor. The building is currently undergoing active renovation, a signal that ownership is repositioning the asset to meet the expectations of the tenant profiles this market attracts: financial services firms, law practices, and institutional occupiers for whom proximity to Grand Central and floor plate quality are non-negotiable. The renovation cycle and the asking rent are consistent — when a building of this scale commits to repositioning in a submarket this tight, the numbers tend to follow. 245 Park is a straightforward example of what it takes to hold a $100-plus rent in today's Midtown East market.

Trophy is a branding and marketing agency for NYC office buildings. We work with landlords and ownership groups to build the leasing brand — the positioning, the visual identity, the story that makes a building worth what it's asking. $100 Foot Club is Or's field notes on the buildings already there. trophy.inc

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Welcome to the $100 Foot Club, the series where we check out New York's top office buildings.

I'm Or Lev-Cohen, founder of Trophy, and I'm here on this freezing afternoon

with one of New York's biggest buildings, biggest office buildings, 1.7 million square feet,

great location right across Grand Central. I'm talking about 245 Park, which is being renovated

right now, as you can see. So great location, a lot of investment in the quality of the spaces.

It only makes sense that they get into our club with $145 of asking rent. So 245 Park,

another great one. This is the $100 Foot Club. I'm going to run in to warm up,

and I'll see you on the next one.