Innovative Office Space at 345 Park Avenue South, Manhattan (2024)

Deerfield’s life sciences office campus at 345 Park Avenue South is one of Midtown South‘s most innovative new projects. The building was originally completed in 1912 and designed by William H. Whittal. It was once known as the Armory Building.

In 2021, Deerfield invested in a full-scale renovation at 345 Park Avenue South, transforming the property into a state-of-the-art office and life sciences hub. Dubbed CURE., the Class A building is a highly appealing destination for businesses in the life sciences, healthcare, or biotech industries, providing best-in-class amenities in an unrivaled Manhattan location.

300 KSF of Class A Gramercy Park Office Space

The 12-story building at 345 Park Avenue South offers 300,000 square feet of Class A Gramercy Park office space, lab space, and ground-floor retail space. Owned by Deerfield and managed by RFR Realty, the property was fully renovated in 2021 and transformed into a premier life sciences hub in the heart of Midtown South.

CURE. now offers move-in ready lab space, engineering and computing space, Class A, flexible office space, and a plethora of amenities. Floorplates range from 25,750 to 27,400 square feet, and all floors are lab-ready and cabled for digital health applications, supporting dry and wet lab space and clinic space. Spaces are flexible and can accommodate wet labs, dry labs, workplace zones for medical device testing, lecture spaces, and private prototype studios for focused individual work.

Tenant-exclusive amenities at 345 Park Avenue South include a rooftop terrace with flexible event space and exquisite views of Manhattan; a lounge club and kitchen; a renovated lobby; a fitness center; an exclusive wine cellar; state-of-the-art conference center; conference rooms and huddle spaces; and fully furnished workspaces.

Getting to and from 345 Park Avenue South

345 Park Avenue South is conveniently located in the heart of Silicon Alley, Manhattan’s central tech hub, close to the Flatiron District and Madison Square Park. Those working in the building have easy access to various public transportation options nearby and numerous upscale restaurants, coffee shops, parks, and retailers.

Who is renting office space at 345 Park Avenue South?

345 Park Avenue South is currently home to Deerfield, ProTara Therapeutics, Test Now and Go, Bank of America Financial Center, Helaina, and the Upland restaurant on the ground floor. There are currently several move-in-ready office/lab spaces available in the building, ranging in size from 10,900 to 27,000 square feet.

How much is the rent price for office space at 345 Park Avenue South?

According to The Real Deal, office and lab space at 345 Park Avenue South comes at a premium. Current tenant ProTara Therapeutics pays $109 per square foot for a 10,252-square-foot space, while Helaina pays $122 for a 15,783-square-foot space. Based on current tenant information, base rents at 345 Park Avenue South start at $76 per square foot but can go much higher depending on the lease terms.

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