Park Avenue Plaza: Difference between revisions

Park Avenue Plaza
Park Avenue Plaza
	Park Avenue Plaza viewed from Park Avenue, rising behind the Racquet and Tennis Club
General information
Location	55 East 52nd Street; Manhattan, New York
Coordinates	40°45′31″N 73°58′25″W / 40.75861°N 73.97361°W
Completed	1981
Height	574 feet (175 m)
Design and construction
Architecture firm	Skidmore, Owings & Merrill

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Park Avenue Plaza is an office building at 55 East 52nd Street in the Midtown Manhattan neighborhood of New York City. The 575-foot (175 m) tall, 44-story building was designed by Skidmore, Owings & Merrill (SOM) for development company Fisher Brothers and was completed in 1981. Despite its name, the building is not actually on Park Avenue, although it abuts the Racquet and Tennis Club building along the avenue. Rather, the building is in the middle of a city block, with entrances on 52nd and 53rd Streets.

The building has a 15-sided massing, with wide diagonal facades to its northeast and southeast, as well as a deep notch on its east. Park Avenue Plaza's facade is made of blue-green reflective panels of glass. The building has one basement, shallower than in other nearby skyscrapers. The building's lowest ten stories include a lobby, atrium, and mechanical equipment, enabling all the office stories to have windows facing Park Avenue. At the base of the building is an enclosed atrium measuring about 30 feet (9.1 m) tall and connecting the two entrances to the building's elevators. Each office story has about 28,000 square feet (2,600 m²) of rentable area; the entire building covers over a million square feet. The building's design prompted mixed reviews upon its completion.

Fisher Brothers acquired the site in the 1970s and proposed constructing a ground-level atrium in exchange for additional space. Construction commenced in March 1979 following negotiations with the Racquet and Tennis Club, which had threatened to build a hotel above its own building. The building was conceived as a speculative development and 90% of the space had been leased before construction was completed. Fisher Brothers has operated Park Avenue Plaza since the building opened in 1981. First Boston, a major tenant, owned a minority stake in the building until 1987. The Boston-based Rockpoint Group bought a 49% stake in 2010, selling it in 2011 to SOHO China.

Site

Park Avenue Plaza is at 55 East 52nd Street^[2] in the Midtown Manhattan neighborhood of New York City.^[3] It is in the middle of the block bounded by 52nd Street to the south, Madison Avenue to the west, 53rd Street to the north, and Park Avenue to the east.^[3] Despite its name, Park Avenue Plaza is not actually situated on Park Avenue, nor does it have a plaza.^[4] The tower abuts the Racquet and Tennis Club Building, which actually is on Park Avenue, to the east.^[3]^[4] The tower's name had been conceived as a way to add prestige to the midblock site.^[5] Park Avenue Plaza is assigned its own ZIP Code, 10055; it was one of 41 buildings in Manhattan that had their own ZIP Codes as of 2019^[update].^[6]

Nearby buildings include CBS Studio Building and Omni Berkshire Place to the west; 488 Madison Avenue to the southwest; 345 Park Avenue to the southeast; the Seagram Building to the east; 399 Park Avenue to the northeast; and Lever House to the north.^[3] In addition, an entrance to the New York City Subway's Fifth Avenue/53rd Street station (served by the E and M trains), is directly across 53rd Street.^[3]^[7]

Architecture

Park Avenue Plaza was designed by Raul de Armas of the firm Skidmore, Owings & Merrill (SOM).^[8]^[9] It was built for the development company Fisher Brothers.^[10]^[11] The structure measures 575 feet (175 m) tall.^[11] To erect a larger building than would have normally been allowed on the site, Fisher Brothers acquired air rights from the Racquet and Tennis Club Building^[12] and from the CBS Studio Building.^[13]

Form and facade

The building has a 15-sided massing, with wide diagonal chamfers to its northeast and southeast.^[8]^[9] The building's wide northeastern and southeastern elevations converge at the middle of the block. The narrow eastern elevation contains a central groove facing Park Avenue.^[8]^[11] According to architectural critic Paul Goldberger, the presence of the groove makes the eastern elevation "appear smaller still".^[8] The groove is aligned with the three arches at the center of the Racquet and Tennis Club Building's facade. There are similar grooves on other elevations of the facade, which were intended to reduce the building's perceived scale.^[11]^[14] Early plans for the building had called for setbacks at two places, matching the heights of neighboring buildings, but SOM's final plans called for a tower without any setbacks.^[14]

The base of the tower is the same height as the Racquet and Tennis Club Building's cornice line.^[14] The main entrances are through revolving doors on 52nd and 53rd Streets.^[11]^[14] The facade is made of blue-green reflective panels of glass, alternating with silver mullions.^[14] SOM had chosen that color because they had wanted the facade to blend in with those of neighboring buildings, although the color contrasted with the tan-brick facade of the Racquet and Tennis Club Building. At the time of Park Avenue Plaza's completion, Lever House (also designed by SOM) was the only other nearby building with a blue-green glass facade.^[8]^[9] The facade contained a lightly glazed finish, which reflected heat during the summer.^[11]

Features

The building has one basement, shallower than in other nearby skyscrapers, since basement offices were generally not attractive to commercial tenants. This reduced the costs of constructing the foundation.^[10] The building's lowest ten stories include a lobby, atrium, and mechanical equipment. The mechanical floors cover 241,000 square feet (22,400 m²).^[11] By placing the mechanical stories near the bottom of the building, this allowed all of the office stories to have windows facing Park Avenue.^[11]^[15] There is an elevator core at the center of the building with shafts for 21 elevators.^[16]

The office stories rise above a set of crossbeams on the ninth floor. The columns on these stories are attached to the crossbeams.^[17] Each office story contains 12 corners and covers about 25,000 square feet (2,300 m²)^[14] or 28,000 square feet (2,600 m²) of area.^[11] As an energy-efficiency measure, each story had individual climate controls, rather than a master control for the entire building.^[11] The top ten floors are connected by an open stairway, and the top story has a ceiling height of 10.5 feet (3.2 m). In the late 1990s, insurance company Swiss Re redesigned the top six floors of the building, cutting off the open stairway below the 39th floor.^[18]

Atrium

At the base of the building is an enclosed atrium measuring about 30 feet (9.1 m) tall^[11]^[17] and connecting 52nd and 53rd Streets.^[19] The space was built in exchange for a zoning bonus;^[8]^[20] its presence contrasted with neighboring buildings that featured a large open plaza.^[21] Fisher Brothers intended for the atrium to resemble a shopping arcade, namely Burlington Arcade in London.^[19] The middle of the atrium contains stainless-steel columns.^[14]^[22] There are eight columns with round corner, each measuring 3 feet (0.91 m) wide by 6 inches (150 mm) thick. The atrium contains two glass walls, which measure a combined 300 square feet (28 m²) and contain illuminated glass-crystal tubes. There is also a glass reception desk measuring 66 feet (20 m) long.^[22]

The atrium contains a large painting by Frank Stella, a pair of brass sculptures with "organic" motifs by William Crovelli, and a waterfall on the eastern wall.^[23] The space contains tables and chairs and was originally planted with small ficus trees.^[24] To accommodate the plantings, the atrium had bright lighting with an intensity of about 200 foot-candles.^[25] A set of escalators lead up to a mezzanine-level elevator lobby.^[8]^[14] At the time of its opening, the atrium also had one of Midtown Manhattan's few public restrooms.^[26] The atrium contains a public shopping arcade, which was not required as part of the zoning bonus.^[4] The storefronts cover 20,000 square feet (1,900 m²) and originally contained bow windows as well as brass and granite decorations.^[27] The space also has green marble walls with dark green glass.^[14]^[28]

History

Development

Planning

For several years in the 1970s, Fisher Brothers had been negotiating with the Racquet and Tennis Club to buy the unused air rights above the latter's clubhouse.^[29] The firm had already acquired a site behind the clubhouse on 52nd and 53rd Streets,^[30] and it had hired SOM to design a 15-sided office building facing Park Avenue.^[29] The project was one of several large office buildings proposed in New York City after the mid-1970s recession.^[31]^[32] The developers planned to name the building "Park Avenue Plaza", though the Manhattan borough president's office had to approve this name.^[33] Fisher Brothers wanted to build an entrance to its office building through the clubhouse, but the firm and the club were unable to agree on this aspect of the design.^[34] Instead, the developers' lawyer Samuel H. Liddenbaum requested a Park Avenue address from the borough president's office, and he proposed that the building include an enclosed atrium or galleria.^[35]

Negotiations between Fisher Brothers and the Racquet and Tennis Club were halted after the New York City Department of City Planning (DCP) announced in 1978 that Fisher Brothers could not only have an address on Park Avenue, but also up to 200,000 sq ft (19,000 m²) of additional office space, if the developers built a 60-foot-high (18 m) galleria.^[29]^[36] The "galleria bonus" would increase the amount of rentable floor area in the new building by 20 percent, raising the floor area ratio from 15 to 18. Fisher Brothers agreed to maintain public restrooms and add a cafe to the galleria.^[37] The developers also proposed allocating $100,000 toward the renovation of the Fifth Avenue/53rd Street station.^[38]^[39] The New York City Planning Commission (CPC) voted 4–2 to approve the galleria bonus in May 1978. Two commissioners had voted against the measure on the grounds that the galleria would provide little "public benefit".^[38]^[39]

By early 1978, the new building was planned to cost $82 million.^[40] That March, the Racquet and Tennis Club informally proposed the construction of a 38-story hotel above its clubhouse, to be designed by Jonathan Morse, a club member.^[29] This would have blocked most eastward views from Fisher Brothers' building.^[34] In August, the club submitted formal plans for a 35-story luxury hotel.^[36]^[41] As a result, in November 1978, Fisher Brothers opted not to accept the galleria bonus from the city, and it resumed negotiations with the Racquet and Tennis Club.^[36]^[12] The firm paid the club $5 million to not build the hotel, instead acquiring the clubhouse's air rights.^[12] This provided funding for the club's protection while also allowing Fisher Brothers to obtain the same amount of floor space that it would have received through the zoning bonus.^[42] The CPC gave Fisher Brothers permission to reduce the atrium's height in exchange for two additional office floors, the construction of which would pay for the air rights.^[35]^[9] Morse refused to say if the club had actually planned to act on the hotel proposal.^[34]^[43] Christopher Gray described the move as "perhaps the biggest game of real estate 'chicken' ever played in New York".^[34]^[36] The city also approved the proposed "Park Avenue Plaza" name.^[15]

Construction

In December 1978, the city government's Industrial and Commercial Incentive Board granted Fisher Brothers a $6.6 million tax abatement to be payable over ten years.^[44]^[9] The abatement was approved even though commission staff had privately recommended against it.^[44] The building was conceived as a speculative development without any anchor tenant in mind.^[45] A groundbreaking ceremony for the project was held in March 1979.^[15]^[9] At the time, 861,000 square feet (80,000 m²) of office space had already been leased by insurance company Alexander & Alexander, financial-services firm First Boston, and management consultant McKinsey & Company.^[15] Alexander & Alexander ultimately canceled its lease, although First Boston took 16 floors and McKinsey took five floors.^[46] Fisher Brothers initially charged rents of $22 to $23 per square foot ($240 to $250/m²),^[47] and the first tenants signed leases at these relatively low rates.^[48] Fisher Brothers then acquired the adjacent CBS Studio Building to protect westward views from the new tower.^[49]^[a]

In the first phase of construction, workers poured concrete footings atop the bedrock, embedding steel bolts into the footings. Workers then bolted steel girders to the bolts, using two derricks to bolt the girders together as the superstructure rose.^[17] Accounting firm Main Hurdman & Cranstoun leased seven floors^[46] in the building in June 1979.^[50]^[51] By the end of that year, fashion firm Elizabeth Arden, Inc. had also agreed to occupy four floors. Though Park Avenue Plaza was about 10 percent complete at the time, nearly 90 percent of the space had been leased, with 150,000 sq ft (14,000 m²) still available.^[46] As the superstructure was being erected, the contractors constructed corrugated steel decks on each story, then poured concrete over each of the corrugated-steel decks. Workers then sprayed a layer of fireproofing onto the superstructure.^[17] A group of demonstrators stormed the construction site in 1980, claiming that Fisher Brothers had not hired enough minority workers; one worker was injured during the protests.^[52]^[53]

1980s and 1990s

The ground-floor atrium had opened by August 1981, and tenants had started to move into the building.^[54] The same year, Banque de Paris et des Pays Bas subleased some space from First Boston,^[55] and First Boston bought a 22% ownership stake in the tower.^[56] That September, Fisher Brothers reportedly negotiated to sell the building to a Middle Eastern investment group.^[57] The retail stores in the building's base were still not completed by early 1982.^[8]^[9] Because the building was about 100 feet west of Park Avenue, the United States Postal Service would not deliver mail addressed solely to "Park Avenue Plaza" unless it was also addressed to 55 East 52nd Street. This prompted Fisher Brothers to apply for a unique ZIP Code for the building, which required that the owners prove that the tenants would receive a high volume of mail. First Boston tasked several employees with estimating the volume of mail it would receive. Park Avenue Plaza ultimately received its own ZIP Code, which allowed the delivery of mail that was addressed solely to "Park Avenue Plaza".^[2]

By the mid-1980s, a Newsday writer said the atrium was one of several that was bringing "New York's shoppers in off the streets".^[58] The atrium had a cafe and several storefronts.^[28] The space also hosted exhibits such as a showcase of sheet music,^[59] as well as musical performances.^[60] Additionally, a large homeless encampment congregated in the atrium during its operating hours.^[61] First Boston sold back its ownership stake in the building to Fisher Brothers in late 1987 for $80 million,^[56]^[62] in part to raise money for employee bonuses.^[63] In exchange, the company agreed to pay higher rent.^[56] Park Avenue Plaza continued to attract financial firms, including Tokai Bank, which leased several floors in 1989.^[64]

First Boston occupied over a third of the building, paying over $60 per square foot ($650/m²) until its lease expired in 1996.^[65] First Boston decided to move to 11 Madison Avenue, where the trading floors were more than twice as large as the 40,000 sq ft (3,700 m²) trading floors at Park Avenue Plaza.^[66] The building's average rental rate was expected to decline following the relocation, making it harder for Fisher Brothers to pay off the $252 million that it still owed on the building's mortgage.^[65] Subsequently, Swiss Re leased six floors at the top of the building^[18] in late 1996.^[67] The next year, the city government gave tax incentives to financial group ING Barings if the company agreed to lease space at Park Avenue Plaza and add jobs during that period.^[68]

2000s to present

The 53rd Street elevation as seen from street level

Insurance company Aon relocated to Park Avenue Plaza in 2002 after the company's old headquarters were destroyed in the September 11 attacks the previous year.^[69]^[70] Aon moved its employees out of the building in 2006 but continued to sublease 270,000 sq ft (25,000 m²) to other tenants.^[71] Another large tenant, ABN AMRO, also moved out around this time.^[72] These firms subleased space to companies such as investment management firm BlackRock, financial services company Evercore, and alternative asset management firm Fairfield Greenwich Group. Additionally, Intercontinental Exchange had some space in the building.^[73]

The Boston-based Rockpoint Group bought a 49 percent ownership stake in July 2010 for $330 million.^[74]^[75] The next year, Rockpoint sold its stake for $569.1 million to Chinese investment firm SOHO China,^[76] a firm controlled by Chinese real estate magnate Zhang Xin.^[77]^[78] As a result of these sales, the building's valuation increased from $695 million to $1.19 billion in a single year.^[79] In the mid-2010s, Janson Goldstein redesigned the atrium, which was renovated in 2016 for $40 million.^[80] The atrium continued to host events such as a design competition for Park Avenue.^[81]^[82] Fisher Brothers received a $75 million mezzanine loan from New York Life in 2018.^[83]^[84] At the time, Swiss Re had indicated its intent to move out of the building,^[85] as did McKinsey.^[86] BlackRock and Aon collectively leased nearly half of the building, but their leases expired in 2023.^[87] Concurrently, several other companies expanded their space in the building, including Evercore^[80]^[86] and General Atlantic.^[88]^[89]

Fisher Brothers temporarily removed the atrium's seats during the COVID-19 pandemic; the seating areas were restored by 2021.^[90] Jennison Associates also leased space at the building in early 2021, with plans to move into the building after BlackRock moved out.^[91]^[92] Fisher Brothers refinanced Park Avenue Plaza in October 2021 with a $575 million CMBS loan. The financing consisted of a $460 million interest-only loan from Morgan Stanley and a $115 million mezzanine loan,^[93] At the time, the building was 99 percent occupied with 11 tenants.^[87] Morgan Stanley leased 400,000 square feet (37,000 m²) of BlackRock's space in January 2022,^[94]^[95] and Evercore expanded its space again in 2024.^[96]^[97]

Reception

The photographer Marvin E. Newman took photographs of Park Avenue Plaza while it was under construction. In a 1981 exhibit of Newman's photographs, the Municipal Art Society described the building as "leaping with tyrannical self-confidence out of the middle of the block".^[98] After the building opened, Paul Goldberger wrote in 1982 that the building "is an earnest, if tame, example of the genre of the abstract tower that we are seeing more and more of around the country".^[8] The AIA Guide to New York City described the building as "a bulky glass prism".^[20] Conversely, architectural critic Martin Filler thought the building's facade was "virtually identical to those SOM has been producing for over 30 years", saying the material drew attention to Lever House, which by comparison "seems pathetically shrunken" by Park Avenue Plaza's presence.^[9]

Goldberger characterized the atrium in 1982 as "too small and tight in its feeling to be the enclosed public square that it aspires to be, but it is a lot more grandiose than the average lobby".^[8] Goldberger changed his stance several years later, saying: "Years of use have mellowed this space, and it has turned into one of the most viable indoor plazas we have."^[99] Richard F. Shepard wrote for The New York Times in 1989 that the atrium had a "warmth that almost contradicts its wall-size waterfall and its manicured interior architecture".^[60] Jerold Kayden described the atrium as "an elegant, two-story glass-enclosed space".^[4] According to Kayden, the space had all the elements of a successful public space because of its chairs and tables, eateries, waterfall, presence of maintenance staff, and "sense of security".^[100]

References

Notes

^ Fisher Brothers acquired the land under the CBS Studio Building in 1979, but it did not acquire the building itself until 1993.^[13]

Citations

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^ ^a ^b ^c ^d ^e "375 Park Avenue, 10022". New York City Department of City Planning. Archived from the original on November 27, 2020. Retrieved September 7, 2020.
^ ^a ^b ^c ^d Kayden, Jerold S.; John Wiley & Sons; The Municipal Art Society of New York (2000). Privately Owned Public Space: The New York City Experience. Wiley. p. 156. ISBN 978-0-471-36257-9.
^ Gregor, Alison (April 5, 2006). "What's in a Building's Name? More Than Meets the Eye". The New York Times. ISSN 0362-4331. Archived from the original on September 20, 2021. Retrieved July 9, 2022.
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^ ^a ^b ^c ^d ^e ^f ^g ^h Stern, Fishman & Tilove 2006, p. 515.
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[Crain's_New_York_Business_2021-93] Sachmechi, Natalie (March 8, 2021). "New York or nowhere: Jennison inks 15-year lease at Park Avenue Plaza". Crain's New York Business. Archived from the original on July 6, 2022. Retrieved July 6, 2022.

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[100] Goldberger, Paul (November 22, 1987). "Architecture View; Plazas, Like Computers, Are Best if User-friendly". The New York Times. ISSN 0362-4331. Archived from the original on November 2, 2017. Retrieved July 9, 2022.

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@@ Line 7: / Line 7: @@
 | image_caption           = Park Avenue Plaza viewed from [[Park Avenue]], rising behind the [[Racquet and Tennis Club]]
 | location= 55 East 52nd Street<br>[[Manhattan]], New York
+| mapframe-wikidata = yes
 | coordinates = {{coord|40|45|31|N|73|58|25|W|display=inline,title}}
 | completion_date = 1981
-| height              = {{convert|574|ft}}<ref name="TSC">{{cite web|url=http://www.skyscrapercenter.com/building/park-avenue-plaza/2508|title=Park Avenue Plaza|publisher=[[The Skyscraper Center]]}}</ref>
+| height              = {{convert|574|ft}}<ref name="TSC">{{cite web|url=http://www.skyscrapercenter.com/building/park-avenue-plaza/2508|title=Park Avenue Plaza|publisher=[[The Skyscraper Center]]|access-date=June 29, 2018|archive-date=June 30, 2018|archive-url=https://web.archive.org/web/20180630000150/http://www.skyscrapercenter.com/building/park-avenue-plaza/2508|url-status=live}}</ref>
 | architecture_firm   = [[Skidmore, Owings & Merrill]]
 }}
 '''Park Avenue Plaza''' is an office building at 55 East [[52nd Street (Manhattan)|52nd Street]] in the [[Midtown Manhattan]] neighborhood of [[New York City]]. The {{Convert|575|ft|adj=on}} tall, 44-story building was designed by [[Skidmore, Owings & Merrill]] (SOM) for development company [[Fisher Brothers]] and was completed in 1981. Despite its name, the building is not actually on [[Park Avenue]], although it abuts the [[Racquet and Tennis Club]] building along the avenue. Rather, the building is in the middle of a [[city block]], with entrances on 52nd and [[53rd Street (Manhattan)|53rd Streets]].
-The building has a 15-sided [[massing]], with wide diagonal facades to its northeast and southeast, as well as a deep notch on its east. Park Avenue Plaza's facade is made of blue-green reflective panels of glass. The building only has one basement, shallower than in other nearby skyscrapers. The building's lowest ten stories include a lobby, atrium, and mechanical equipment, enabling all the office stories to have windows facing Park Avenue. At the base of the building is an enclosed [[Atrium (architecture)|atrium]] measuring about {{Convert|30|ft}} tall and connecting the two entrances to the building's elevators. Each office story has about {{convert|28000|ft2}} of rentable area; the entire building covers over a million square feet. The building's design prompted mixed reviews upon its completion.
+The building has a 15-sided [[massing]], with wide diagonal facades to its northeast and southeast, as well as a deep notch on its east. Park Avenue Plaza's facade is made of blue-green reflective panels of glass. The building has one basement, shallower than in other nearby skyscrapers. The building's lowest ten stories include a lobby, atrium, and mechanical equipment, enabling all the office stories to have windows facing Park Avenue. At the base of the building is an enclosed [[Atrium (architecture)|atrium]] measuring about {{Convert|30|ft}} tall and connecting the two entrances to the building's elevators. Each office story has about {{convert|28000|ft2}} of rentable area; the entire building covers over a million square feet. The building's design prompted mixed reviews upon its completion.
-Fisher Brothers acquired the site in the 1970s and proposed constructing a ground-level atrium in exchange for additional space. Construction commenced in March 1979 following negotiations with the Racquet and Tennis Club, which had threatened to build a hotel above its own building. Though the building was conceived as a [[speculative development]], 90 percent of the space had been leased before construction was even completed. Fisher Brothers has operated Park Avenue Plaza ever since the building opened in 1981. [[First Boston]], a major tenant in the building, initially owned a minority stake in the building until 1987. The Boston-based Rockpoint Group bought a 49 percent ownership stake in 2010, selling its stake in 2011 to investment firm [[SOHO China]].
+Fisher Brothers acquired the site in the 1970s and proposed constructing a ground-level atrium in exchange for additional space. Construction commenced in March 1979 following negotiations with the Racquet and Tennis Club, which had threatened to build a hotel above its own building. The building was conceived as a speculative development and 90% of the space had been leased before construction was completed. Fisher Brothers has operated Park Avenue Plaza since the building opened in 1981. [[First Boston]], a major tenant, owned a minority stake in the building until 1987. The Boston-based [[Rockpoint Group]] bought a 49% stake in 2010, selling it in 2011 to [[SOHO China]].
 == Site ==
-Park Avenue Plaza is at 55 East 52nd Street<ref name="p134837402">{{cite news |last=Smith |first=Randall |date=27 May 1983 |title=A Fancy Address In New York City May Be Just Fanciful: Some 'Park Avenue' Buildings Turn Up on Side Streets; Where Is Wall St. Plaza? |page=1 |work=Wall Street Journal |issn=0099-9660 |id={{ProQuest|134837402}}}}</ref> in the [[Midtown Manhattan]] neighborhood of New York City.<ref name="ZoLa" /> It is in the middle of the block bounded by [[52nd Street (Manhattan)|52nd&nbsp;Street]] to the south, [[Madison Avenue]] to the west, [[53rd Street (Manhattan)|53rd&nbsp;Street]] to the north, and [[Park Avenue]] to the east.<ref name="ZoLa">{{Cite web |title=375 Park Avenue, 10022 |url=https://zola.planning.nyc.gov/l/lot/1/1307/1#17.95/40.758457/-73.971507 |access-date=September 7, 2020 |publisher=[[New York City Department of City Planning]]}}</ref> Despite its name, Park Avenue Plaza is not actually situated on Park Avenue, nor does it have a plaza.<ref name="Kayden">Jerold S. Kayden, ''Privately Owned Public Space: The New York City Experience'' (2000), p. 156.</ref> The tower abuts the [[Racquet and Tennis Club Building]], which actually is on Park Avenue, to the east.<ref name="ZoLa" /><ref name="Kayden" /> The tower's name had been conceived as a way to add prestige to the midblock site.<ref>{{Cite news |last=Gregor |first=Alison |date=2006-04-05 |title=What's in a Building's Name? More Than Meets the Eye |language=en-US |work=The New York Times |url=https://www.nytimes.com/2006/04/05/business/whats-in-a-buildings-name-more-than-meets-the-eye.html |access-date=2022-07-09 |issn=0362-4331}}</ref> Park Avenue Plaza is assigned its own [[ZIP Code]], 10055; it was one of 41 buildings in Manhattan that had their own ZIP Codes {{as of|2019|lc=y}}.<ref name="Brown 2019">{{cite web |last=Brown |first=Nicole |date=March 18, 2019 |title=Why do some buildings have their own ZIP codes? NYCurious |url=https://www.amny.com/news/nyc-zip-codes-1-28558957/ |access-date=July 8, 2022 |website=amNewYork}}</ref>
+Park Avenue Plaza is at 55 East 52nd Street<ref name="p134837402">{{cite news |last=Smith |first=Randall |date=27 May 1983 |title=A Fancy Address In New York City May Be Just Fanciful: Some 'Park Avenue' Buildings Turn Up on Side Streets; Where Is Wall St. Plaza? |page=1 |work=Wall Street Journal |issn=0099-9660 |id={{ProQuest|134837402}}}}</ref> in the [[Midtown Manhattan]] neighborhood of New York City.<ref name="ZoLa" /> It is in the middle of the block bounded by [[52nd Street (Manhattan)|52nd&nbsp;Street]] to the south, [[Madison Avenue]] to the west, [[53rd Street (Manhattan)|53rd&nbsp;Street]] to the north, and [[Park Avenue]] to the east.<ref name="ZoLa">{{Cite web |title=375 Park Avenue, 10022 |url=https://zola.planning.nyc.gov/l/lot/1/1307/1#17.95/40.758457/-73.971507 |access-date=September 7, 2020 |publisher=[[New York City Department of City Planning]] |archive-date=November 27, 2020 |archive-url=https://web.archive.org/web/20201127231656/https://zola.planning.nyc.gov/l/lot/1/1307/1#17.95/40.758457/-73.971507 |url-status=live }}</ref> Despite its name, Park Avenue Plaza is not actually situated on Park Avenue, nor does it have a plaza.<ref name="Kayden">{{cite book | last=Kayden | first=Jerold S. | author2=John Wiley & Sons | author3=The Municipal Art Society of New York | title=Privately Owned Public Space: The New York City Experience | publisher=Wiley | year=2000 | isbn=978-0-471-36257-9 | url=https://books.google.com/books?id=Q09PAAAAMAAJ | page=156}}</ref> The tower abuts the [[Racquet and Tennis Club Building]], which actually is on Park Avenue, to the east.<ref name="ZoLa" /><ref name="Kayden" /> The tower's name had been conceived as a way to add prestige to the midblock site.<ref>{{Cite news |last=Gregor |first=Alison |date=2006-04-05 |title=What's in a Building's Name? More Than Meets the Eye |language=en-US |work=The New York Times |url=https://www.nytimes.com/2006/04/05/business/whats-in-a-buildings-name-more-than-meets-the-eye.html |access-date=2022-07-09 |issn=0362-4331 |archive-date=September 20, 2021 |archive-url=https://web.archive.org/web/20210920214145/https://www.nytimes.com/2006/04/05/business/whats-in-a-buildings-name-more-than-meets-the-eye.html |url-status=live }}</ref> Park Avenue Plaza is assigned its own [[ZIP Code]], 10055; it was one of 41 buildings in Manhattan that had their own ZIP Codes {{as of|2019|lc=y}}.<ref name="Brown 2019">{{cite web |last=Brown |first=Nicole |date=March 18, 2019 |title=Why do some buildings have their own ZIP codes? NYCurious |url=https://www.amny.com/news/nyc-zip-codes-1-28558957/ |access-date=July 8, 2022 |website=amNewYork |archive-date=July 8, 2022 |archive-url=https://web.archive.org/web/20220708215731/https://www.amny.com/news/nyc-zip-codes-1-28558957/ |url-status=live }}</ref>
 Nearby buildings include [[CBS Studio Building]] and [[Omni Berkshire Place]] to the west; [[488 Madison Avenue]] to the southwest; [[345 Park Avenue]] to the southeast; the [[Seagram Building]] to the east; [[399 Park Avenue]] to the northeast; and [[Lever House]] to the north.<ref name="ZoLa" /> In addition, an entrance to the [[New York City Subway]]'s [[Fifth Avenue/53rd Street station]] (served by the {{NYCS trains|Queens 53rd}}), is directly across 53rd Street.<ref name="ZoLa" /><ref name="NeighborhoodMap">{{cite web |date=April 2018 |title=Lexington Avenue—53rd Street Neighborhood Map |url=https://new.mta.info/document/2641 |url-status=live |archive-url=https://web.archive.org/web/20211214184918/https://new.mta.info/document/2641 |archive-date=December 14, 2021 |access-date=December 28, 2020 |publisher=Metropolitan Transportation Authority}}</ref>
 ==Architecture==
-Park Avenue Plaza was designed by [[Raúl de Armas|Raul de Armas]] of the firm [[Skidmore, Owings & Merrill]] (SOM).<ref name="nyt-1982-02-20">{{Cite news |last=Goldberger |first=Paul |date=1982-02-20 |title=At Park Ave. Plaza, Accent's on Interior; An Appraisal |language=en-US |work=The New York Times |url=https://www.nytimes.com/1982/02/20/nyregion/at-park-ave-plaza-accent-s-on-interior-an-appraisal.html |access-date=2022-07-08 |issn=0362-4331}}</ref><ref name="Stern (2006) p. 515" /> It was built for the development company [[Fisher Brothers]].<ref name="nyt-1979-07-08">{{Cite news |last=Barbanel |first=Josh |date=1979-07-08 |title=The Skyscraper Business: Getting Off the Ground |language=en-US |work=The New York Times |url=https://www.nytimes.com/1979/07/08/archives/the-skyscraper-business-getting-off-the-ground-how-skyscrapers-get.html |access-date=2022-07-08 |issn=0362-4331}}</ref><ref name="n105215049">{{Cite news |date=1979-05-26 |title=Glass tower will sparkle in Manhattan |pages=184 |work=Daily News |url=https://www.newspapers.com/clip/105215049/glass-tower-will-sparkle-in-manhattan/ |access-date=2022-07-08}}</ref> The structure measures {{Convert|575|ft}} tall.<ref name="n105215049" /> To erect a larger building than would have normally been allowed on the site, Fisher Brothers acquired [[air rights]] from the Racquet and Tennis Club Building<ref name="nyt-1978-11-12" /> and from the CBS Studio Building.<ref name="nyt-1996-10-20">{{Cite news |last=Garbarine |first=Rachelle |date=1996-10-20 |title=A Mansion Will Wake Up To Find It's 1908 Again |language=en-US |work=The New York Times |url=https://www.nytimes.com/1996/10/20/nyregion/a-mansion-will-wake-up-to-find-it-s-1908-again.html |access-date=2022-07-09 |issn=0362-4331}}</ref>
+Park Avenue Plaza was designed by [[Raúl de Armas|Raul de Armas]] of the firm [[Skidmore, Owings & Merrill]] (SOM).<ref name="nyt-1982-02-20">{{Cite news |last=Goldberger |first=Paul |date=1982-02-20 |title=At Park Ave. Plaza, Accent's on Interior; An Appraisal |language=en-US |work=The New York Times |url=https://www.nytimes.com/1982/02/20/nyregion/at-park-ave-plaza-accent-s-on-interior-an-appraisal.html |access-date=2022-07-08 |issn=0362-4331 |archive-date=May 24, 2015 |archive-url=https://web.archive.org/web/20150524111532/http://www.nytimes.com/1982/02/20/nyregion/at-park-ave-plaza-accent-s-on-interior-an-appraisal.html |url-status=live }}</ref><ref name="Stern (2006) p. 515" /> It was built for the development company [[Fisher Brothers]].<ref name="nyt-1979-07-08">{{Cite news |last=Barbanel |first=Josh |date=1979-07-08 |title=The Skyscraper Business: Getting Off the Ground |language=en-US |work=The New York Times |url=https://www.nytimes.com/1979/07/08/archives/the-skyscraper-business-getting-off-the-ground-how-skyscrapers-get.html |access-date=2022-07-08 |issn=0362-4331 |archive-date=April 12, 2021 |archive-url=https://web.archive.org/web/20210412215755/https://www.nytimes.com/1979/07/08/archives/the-skyscraper-business-getting-off-the-ground-how-skyscrapers-get.html |url-status=live }}</ref><ref name="n105215049">{{Cite news |date=1979-05-26 |title=Glass tower will sparkle in Manhattan |pages=184 |work=New York Daily News |via=newspapers.com |url=https://www.newspapers.com/clip/105215049/glass-tower-will-sparkle-in-manhattan/ |access-date=2022-07-08 |archive-date=July 8, 2022 |archive-url=https://web.archive.org/web/20220708215104/https://www.newspapers.com/clip/105215049/glass-tower-will-sparkle-in-manhattan/ |url-status=live }}</ref> The structure measures {{Convert|575|ft}} tall.<ref name="n105215049" /> To erect a larger building than would have normally been allowed on the site, Fisher Brothers acquired [[air rights]] from the Racquet and Tennis Club Building<ref name="nyt-1978-11-12" /> and from the CBS Studio Building.<ref name="nyt-1996-10-20">{{Cite news |last=Garbarine |first=Rachelle |date=1996-10-20 |title=A Mansion Will Wake Up To Find It's 1908 Again |language=en-US |work=The New York Times |url=https://www.nytimes.com/1996/10/20/nyregion/a-mansion-will-wake-up-to-find-it-s-1908-again.html |access-date=2022-07-09 |issn=0362-4331 |archive-date=April 3, 2019 |archive-url=https://web.archive.org/web/20190403203316/https://www.nytimes.com/1996/10/20/nyregion/a-mansion-will-wake-up-to-find-it-s-1908-again.html |url-status=live }}</ref>
 ===Form and facade===
 [[File:Park Av May 2022 52.jpg|thumb|The notch on the eastern elevation]]
-The building has a 15-sided [[massing]], with wide diagonal [[Chamfer|chamfers]] to its northeast and southeast.<ref name="nyt-1982-02-20" /><ref name="Stern (2006) p. 515" /> The main entrances are on 52nd and 53rd Streets.<ref name="n105215049" /> The building's wide northeastern and southeastern [[Elevation (architecture)|elevations]] converge at the middle of the block. The narrow eastern elevation contains a central groove facing Park Avenue.<ref name="nyt-1982-02-20" /><ref name="n105215049" /> According to architectural critic [[Paul Goldberger]], the presence of the groove makes the eastern elevation "appear smaller still".<ref name="nyt-1982-02-20" /> The groove is aligned with the three arches at the center of the Racquet and Tennis Club Building's [[facade]]. There are similar grooves on other elevations of the facade, which were intended to reduce the building's perceived scale.<ref name="n105215049" />
+The building has a 15-sided [[massing]], with wide diagonal [[Chamfer|chamfers]] to its northeast and southeast.<ref name="nyt-1982-02-20" /><ref name="Stern (2006) p. 515" /> The building's wide northeastern and southeastern [[Elevation (architecture)|elevations]] converge at the middle of the block. The narrow eastern elevation contains a central groove facing Park Avenue.<ref name="nyt-1982-02-20" /><ref name="n105215049" /> According to architectural critic [[Paul Goldberger]], the presence of the groove makes the eastern elevation "appear smaller still".<ref name="nyt-1982-02-20" /> The groove is aligned with the three arches at the center of the Racquet and Tennis Club Building's [[facade]]. There are similar grooves on other elevations of the facade, which were intended to reduce the building's perceived scale.<ref name="n105215049" /><ref name="SOM p. 180">{{Harvnb|Monacelli Press|2009|p=180|ps=.}}</ref> Early plans for the building had called for setbacks at two places, matching the heights of neighboring buildings, but SOM's final plans called for a tower without any setbacks.<ref name="SOM p. 180" />
-Park Avenue Plaza's facade is made of blue-green reflective panels of glass. SOM had chosen that color because they had wanted the facade to blend in with those of neighboring buildings, although the color contrasted with the tan-brick facade of the Racquet and Tennis Club Building. At the time of Park Avenue Plaza's completion, Lever House (also designed by SOM) was the only other nearby building with a blue-green glass facade.<ref name="nyt-1982-02-20" /><ref name="Stern (2006) p. 515" /> The facade contained a lightly glazed finish, which reflected heat during the summer.<ref name="n105215049" />
+The base of the tower is the same height as the Racquet and Tennis Club Building's [[Corniche|cornice]] line.<ref name="SOM p. 180" /> The main entrances are through revolving doors on 52nd and 53rd Streets.<ref name="n105215049" /><ref name="SOM p. 180" /> The facade is made of blue-green reflective panels of glass, alternating with silver [[Mullion|mullions]].<ref name="SOM p. 180" /> SOM had chosen that color because they had wanted the facade to blend in with those of neighboring buildings, although the color contrasted with the tan-brick facade of the Racquet and Tennis Club Building. At the time of Park Avenue Plaza's completion, Lever House (also designed by SOM) was the only other nearby building with a blue-green glass facade.<ref name="nyt-1982-02-20" /><ref name="Stern (2006) p. 515" /> The facade contained a lightly glazed finish, which reflected heat during the summer.<ref name="n105215049" />
 ===Features===
-The building only has one basement, shallower than in other nearby skyscrapers, since basement offices were generally not attractive to commercial tenants. This reduced the costs of constructing the foundation.<ref name="nyt-1979-07-08" /> The building's lowest ten stories include a lobby, atrium, and mechanical equipment. The mechanical floors cover {{Convert|241000|ft2}}.<ref name="n105215049" /> By placing the mechanical stories near the bottom of the building, this allowed all of the office stories to have windows facing Park Avenue.<ref name="n105215049" /><ref name="nyt-1979-03-14" />
+The building has one basement, shallower than in other nearby skyscrapers, since basement offices were generally not attractive to commercial tenants. This reduced the costs of constructing the foundation.<ref name="nyt-1979-07-08" /> The building's lowest ten stories include a lobby, atrium, and mechanical equipment. The mechanical floors cover {{Convert|241000|ft2}}.<ref name="n105215049" /> By placing the mechanical stories near the bottom of the building, this allowed all of the office stories to have windows facing Park Avenue.<ref name="n105215049" /><ref name="nyt-1979-03-14" /> There is an elevator core at the center of the building with shafts for 21 elevators.<ref name="SOM p. 182">{{Harvnb|Monacelli Press|2009|p=182|ps=.}}</ref>
-The office stories rise above a set of [[Crossbeam|crossbeams]] on the ninth floor. The columns on these stories are attached to the crossbeams.<ref name="nyt-1980-05-18">{{Cite news |last=Daley |first=Suzanne |date=1980-05-18 |title=Rugged Art of Erecting A Building's Structure; Buildings In Steel and Concrete Rugged Art of Erecting Building Structure |language=en-US |work=The New York Times |url=https://www.nytimes.com/1980/05/18/archives/rugged-art-of-erecting-a-buildings-structure-buildings-in-steel-and.html |access-date=2022-07-08 |issn=0362-4331}}</ref> Each office story contains 12 corners and covers about {{convert|28000|ft2}} of rentable area. As an energy-efficiency measure, each story had individual climate controls, rather than a master control for the entire building.<ref name="n105215049" /> The top ten floors are connected by an open stairway, and the top story has a ceiling height of {{convert|10.5|ft}}. In the late 1990s, insurance company [[Swiss Re]] redesigned the top six floors of the building, cutting off the open stairway below the 39th floor.<ref name="p234921888">{{cite magazine |last=Geran |first=Monica |date=Jan 1998 |title=Top of the line |volume=69 |issue=1 |pages=142-147 |id={{proquest|234921888}} |journal=Interior Design}}</ref>
+The office stories rise above a set of [[Crossbeam|crossbeams]] on the ninth floor. The columns on these stories are attached to the crossbeams.<ref name="nyt-1980-05-18">{{Cite news |last=Daley |first=Suzanne |date=1980-05-18 |title=Rugged Art of Erecting A Building's Structure; Buildings In Steel and Concrete Rugged Art of Erecting Building Structure |language=en-US |work=The New York Times |url=https://www.nytimes.com/1980/05/18/archives/rugged-art-of-erecting-a-buildings-structure-buildings-in-steel-and.html |access-date=2022-07-08 |issn=0362-4331 |archive-date=July 8, 2022 |archive-url=https://web.archive.org/web/20220708194136/https://www.nytimes.com/1980/05/18/archives/rugged-art-of-erecting-a-buildings-structure-buildings-in-steel-and.html |url-status=live }}</ref> Each office story contains 12 corners and covers about {{Convert|25000|ft2}}<ref name="SOM p. 180" /> or {{convert|28000|ft2}} of area.<ref name="n105215049" /> As an energy-efficiency measure, each story had individual climate controls, rather than a master control for the entire building.<ref name="n105215049" /> The top ten floors are connected by an open stairway, and the top story has a ceiling height of {{convert|10.5|ft}}. In the late 1990s, insurance company [[Swiss Re]] redesigned the top six floors of the building, cutting off the open stairway below the 39th floor.<ref name="p234921888">{{cite magazine |last=Geran |first=Monica |date=Jan 1998 |title=Top of the line |volume=69 |issue=1 |pages=142–147 |id={{ProQuest|234921888}} |journal=Interior Design}}</ref>
 ==== Atrium ====
-At the base of the building is an enclosed [[Atrium (architecture)|atrium]] measuring about {{Convert|30|ft}} tall<ref name="n105215049" /><ref name="nyt-1980-05-18" /> and connecting 52nd and 53rd Streets.<ref name="n105222974">{{Cite news |date=1980-09-02 |title=The build-up of Manhattan's malls |pages=426 |work=Daily News |url=https://www.newspapers.com/clip/105222974/the-build-up-of-manhattans-malls/ |access-date=2022-07-08}}</ref> The space was built in exchange for a zoning bonus;<ref name="nyt-1982-02-20" /><ref name="AIA" /> its presence contrasted with neighboring buildings that featured a large open plaza.<ref name="Morrone">Francis Morrone, ''Architectural Guidebook to New York City'' (2009), p. 167.</ref> Fisher Brothers intended for the atrium to resemble [[Burlington Arcade]] in London.<ref name="n105222974" /> The atrium contains a large painting by [[Frank Stella]], a pair of brass sculptures with "organic" motifs by [[William Crovelli]], and a waterfall on the eastern wall.<ref name="nyt-1982-12-05">{{Cite news |last=Shirey |first=David L. |date=1982-12-05 |title=There's Poetry in the Newest Office Portals |language=en-US |work=The New York Times |url=https://www.nytimes.com/1982/12/05/realestate/there-s-poetry-in-the-newest-office-portals.html |access-date=2022-07-08 |issn=0362-4331}}</ref> The space contains tables and chairs and was originally planted with small [[ficus]] trees.<ref>{{Cite news |last=Faust |first=Joan Lee |date=1984-03-09 |title=The Great Indoors; Buildings With a Hear of Green |language=en-US |work=The New York Times |url=https://www.nytimes.com/1984/03/09/arts/the-great-indoors-buildings-with-a-hear-of-green.html |access-date=2022-07-08 |issn=0362-4331}}</ref> To accommodate the plantings, the atrium had bright lighting with an intensity of about 200 [[Foot-candle|foot-candles]].<ref name="nyt-1982-02-18">{{Cite news |last=Yang |first=Linda |date=1982-02-18 |title=Persuading A Tree To Survive Indoors |language=en-US |work=The New York Times |url=https://www.nytimes.com/1982/02/18/garden/gardening-persuading-a-tree-to-survive-indoors.html |access-date=2022-07-08 |issn=0362-4331}}</ref> A set of escalators lead up to a mezzanine-level elevator lobby.<ref name="nyt-1982-02-20" /> At the time of its opening, the atrium also had one of Midtown Manhattan's few public restrooms.<ref>{{Cite news |last=Schumer |first=Fran R. |date=1988-02-03 |title=Manhattan Restrooms: An Elusive Amenity |language=en-US |work=The New York Times |url=https://www.nytimes.com/1988/02/03/garden/manhattan-restrooms-an-elusive-amenity.html |access-date=2022-07-08 |issn=0362-4331}}</ref>
+At the base of the building is an enclosed [[Atrium (architecture)|atrium]] measuring about {{Convert|30|ft}} tall<ref name="n105215049" /><ref name="nyt-1980-05-18" /> and connecting 52nd and 53rd Streets.<ref name="n105222974">{{Cite news |date=1980-09-02 |title=The build-up of Manhattan's malls |pages=426 |work=New York Daily News |via=newspapers.com |url=https://www.newspapers.com/clip/105222974/the-build-up-of-manhattans-malls/ |access-date=2022-07-08 |archive-date=July 8, 2022 |archive-url=https://web.archive.org/web/20220708215104/https://www.newspapers.com/clip/105222974/the-build-up-of-manhattans-malls/ |url-status=live }}</ref> The space was built in exchange for a zoning bonus;<ref name="nyt-1982-02-20" /><ref name="AIA" /> its presence contrasted with neighboring buildings that featured a large open plaza.<ref name="Morrone">Francis Morrone, ''Architectural Guidebook to New York City'' (2009), p. 167.</ref> Fisher Brothers intended for the atrium to resemble a shopping arcade, namely [[Burlington Arcade]] in London.<ref name="n105222974" /> The middle of the atrium contains stainless-steel columns.<ref name="SOM p. 180" /><ref name="Plaza Construction">{{cite web |title=Park Avenue Plaza Lobby Renovation |url=https://www.plazaconstruction.com/projects/details/park-avenue-plaza-lobby-renovation/ |access-date=July 22, 2022 |website=Plaza Construction}}</ref> There are eight columns with round corner, each measuring {{convert|3|ft}} wide by {{convert|6|in}} thick. The atrium contains two glass walls, which measure a combined {{convert|300|ft2}} and contain illuminated glass-crystal tubes. There is also a glass reception desk measuring {{convert|66|ft}} long.<ref name="Plaza Construction" />
-The building also contains a public shopping arcade, which was not required as part of the zoning bonus.<ref name="Kayden" /> The storefronts cover {{convert|20000|ft2}} and originally contained [[Bow window|bow windows]] as well as brass and granite decorations.<ref name="nyt-1981-06-17">{{Cite news |last=Horsley |first=Carter B. |date=1981-06-17 |title=Real Estate; Designing Manhattan Retail Sites |language=en-US |work=The New York Times |url=https://www.nytimes.com/1981/06/17/business/real-estate-designing-manhattan-retail-sites.html |access-date=2022-07-08 |issn=0362-4331}}</ref> The space also had green marble walls with dark green glass.<ref name="nyt-1985-03-24">{{Cite news |last=Israel |first=Andrea |date=1985-03-24 |title=Travel Notes on New York; Sampling the Atriums |language=en-US |work=The New York Times |url=https://www.nytimes.com/1985/03/24/travel/travel-notes-on-new-york-sampling-the-atriums.html |access-date=2022-07-08 |issn=0362-4331}}</ref>
+The atrium contains a large painting by [[Frank Stella]], a pair of brass sculptures with "organic" motifs by [[William Crovelli]], and a waterfall on the eastern wall.<ref name="nyt-1982-12-05">{{Cite news |last=Shirey |first=David L. |date=1982-12-05 |title=There's Poetry in the Newest Office Portals |language=en-US |work=The New York Times |url=https://www.nytimes.com/1982/12/05/realestate/there-s-poetry-in-the-newest-office-portals.html |access-date=2022-07-08 |issn=0362-4331 |archive-date=July 8, 2022 |archive-url=https://web.archive.org/web/20220708225459/https://www.nytimes.com/1982/12/05/realestate/there-s-poetry-in-the-newest-office-portals.html |url-status=live }}</ref> The space contains tables and chairs and was originally planted with small [[ficus]] trees.<ref>{{Cite news |last=Faust |first=Joan Lee |date=1984-03-09 |title=The Great Indoors; Buildings With a Hear of Green |language=en-US |work=The New York Times |url=https://www.nytimes.com/1984/03/09/arts/the-great-indoors-buildings-with-a-hear-of-green.html |access-date=2022-07-08 |issn=0362-4331 |archive-date=July 22, 2021 |archive-url=https://web.archive.org/web/20210722235637/https://www.nytimes.com/1984/03/09/arts/the-great-indoors-buildings-with-a-hear-of-green.html |url-status=live }}</ref> To accommodate the plantings, the atrium had bright lighting with an intensity of about 200 [[Foot-candle|foot-candles]].<ref name="nyt-1982-02-18">{{Cite news |last=Yang |first=Linda |date=1982-02-18 |title=Persuading A Tree To Survive Indoors |language=en-US |work=The New York Times |url=https://www.nytimes.com/1982/02/18/garden/gardening-persuading-a-tree-to-survive-indoors.html |access-date=2022-07-08 |issn=0362-4331 |archive-date=July 8, 2022 |archive-url=https://web.archive.org/web/20220708225350/https://www.nytimes.com/1982/02/18/garden/gardening-persuading-a-tree-to-survive-indoors.html |url-status=live }}</ref> A set of escalators lead up to a mezzanine-level elevator lobby.<ref name="nyt-1982-02-20" /><ref name="SOM p. 180" /> At the time of its opening, the atrium also had one of Midtown Manhattan's few public restrooms.<ref>{{Cite news |last=Schumer |first=Fran R. |date=1988-02-03 |title=Manhattan Restrooms: An Elusive Amenity |language=en-US |work=The New York Times |url=https://www.nytimes.com/1988/02/03/garden/manhattan-restrooms-an-elusive-amenity.html |access-date=2022-07-08 |issn=0362-4331 |archive-date=July 8, 2022 |archive-url=https://web.archive.org/web/20220708235958/https://www.nytimes.com/1988/02/03/garden/manhattan-restrooms-an-elusive-amenity.html |url-status=live }}</ref> The atrium contains a public shopping arcade, which was not required as part of the zoning bonus.<ref name="Kayden" /> The storefronts cover {{convert|20000|ft2}} and originally contained [[Bow window|bow windows]] as well as brass and granite decorations.<ref name="nyt-1981-06-17">{{Cite news |last=Horsley |first=Carter B. |date=1981-06-17 |title=Real Estate; Designing Manhattan Retail Sites |language=en-US |work=The New York Times |url=https://www.nytimes.com/1981/06/17/business/real-estate-designing-manhattan-retail-sites.html |access-date=2022-07-08 |issn=0362-4331 |archive-date=July 8, 2022 |archive-url=https://web.archive.org/web/20220708213806/https://www.nytimes.com/1981/06/17/business/real-estate-designing-manhattan-retail-sites.html |url-status=live }}</ref> The space also has green marble walls with dark green glass.<ref name="SOM p. 180" /><ref name="nyt-1985-03-24">{{Cite news |last=Israel |first=Andrea |date=1985-03-24 |title=Travel Notes on New York; Sampling the Atriums |language=en-US |work=The New York Times |url=https://www.nytimes.com/1985/03/24/travel/travel-notes-on-new-york-sampling-the-atriums.html |access-date=2022-07-08 |issn=0362-4331 |archive-date=July 9, 2022 |archive-url=https://web.archive.org/web/20220709000018/https://www.nytimes.com/1985/03/24/travel/travel-notes-on-new-york-sampling-the-atriums.html |url-status=live }}</ref>
 ==History==
@@ Line 48: / Line 49: @@
 ==== Planning ====
 [[File:Park Av May 2022 58.jpg|thumb|Entrance on 52nd Street]]
-For several years in the 1970s, Fisher Brothers had been negotiating with the [[Racquet and Tennis Club]] to buy the unused air rights above the latter's clubhouse.<ref name="nyt-1978-03-31" /> The firm had already acquired a site behind the clubhouse on 52nd and 53rd Streets,<ref>{{Cite news |last=Horsley |first=Carter B. |date=1977-08-04 |title=Park Ave. Building Could Signal End of Construction Drought |language=en-US |work=The New York Times |url=https://www.nytimes.com/1977/08/04/archives/park-ave-building-could-signal-end-of-construction-drought.html |access-date=2022-07-07 |issn=0362-4331}}</ref> and it had hired SOM to design a 15-sided office building facing Park Avenue.<ref name="nyt-1978-03-31" /> The project was one of several large office buildings proposed in New York City after the mid-1970s recession.<ref name="p134228514">{{cite news |last=Carberry |first=James |date=5 June 1978 |title=Construction Market In New York Shows Signs of Recovering: Numerous Office Buildings, Hotels, Apartments Are in Works, Citibank Aide Says |page=20 |work=Wall Street Journal |issn=0099-9660 |id={{ProQuest|134228514}}}}</ref><ref>{{Cite news |last=Horsley |first=Carter B. |date=1978-01-29 |title=Office Market Jumping Again |language=en-US |work=The New York Times |url=https://www.nytimes.com/1978/01/29/archives/office-market-jumping-again-office-market-jumping-again.html |access-date=2022-07-07 |issn=0362-4331}}</ref> he developers planned to name the building "Park Avenue Plaza", though the Manhattan [[borough president]]'s office had to approve this name.<ref>{{Cite news |last=Horsley |first=Carter B. |date=1978-04-30 |title=In Environs Of Grand Central, New Strength |language=en-US |work=The New York Times |url=https://www.nytimes.com/1978/04/30/archives/in-environs-of-grand-central-new-strength-a-dramatic-turn-for-the.html |access-date=2022-07-07 |issn=0362-4331}}</ref> Fisher Brothers wanted to build an entrance to its office building through the clubhouse, but the firm and the club were unable to agree on this aspect of the design.<ref name="nyt-1997-11-23">{{Cite news |last=Gray |first=Christopher |date=1997-11-23 |title=Streetscapes/The Racquet & Tennis Club; A Park Ave. Anomaly Dedicated to Arcane Sports |language=en-US |work=The New York Times |url=https://www.nytimes.com/1997/11/23/realestate/streetscapes-racquet-tennis-club-park-ave-anomaly-dedicated-arcane-sports.html |access-date=2022-07-07 |issn=0362-4331}}</ref> Instead, the developers' lawyer [[Samuel H. Liddenbaum]] requested a Park Avenue address from the borough president's office, and he proposed that the building include an enclosed atrium or galleria.<ref name="nyt-1981-07-12">{{Cite news |last=Jonnes |first=Jill |date=1981-07-12 |title=City's Zoning: a Tough Game That Few Can Play |language=en-US |work=The New York Times |url=https://www.nytimes.com/1981/07/12/realestate/city-s-zoning-a-tough-game-that-few-can-play.html |access-date=2022-07-08 |issn=0362-4331}}</ref>
+For several years in the 1970s, Fisher Brothers had been negotiating with the [[Racquet and Tennis Club]] to buy the unused air rights above the latter's clubhouse.<ref name="nyt-1978-03-31" /> The firm had already acquired a site behind the clubhouse on 52nd and 53rd Streets,<ref>{{Cite news |last=Horsley |first=Carter B. |date=1977-08-04 |title=Park Ave. Building Could Signal End of Construction Drought |language=en-US |work=The New York Times |url=https://www.nytimes.com/1977/08/04/archives/park-ave-building-could-signal-end-of-construction-drought.html |access-date=2022-07-07 |issn=0362-4331 |archive-date=July 7, 2022 |archive-url=https://web.archive.org/web/20220707235217/https://www.nytimes.com/1977/08/04/archives/park-ave-building-could-signal-end-of-construction-drought.html |url-status=live }}</ref> and it had hired SOM to design a 15-sided office building facing Park Avenue.<ref name="nyt-1978-03-31" /> The project was one of several large office buildings proposed in New York City after the mid-1970s recession.<ref name="p134228514">{{cite news |last=Carberry |first=James |date=5 June 1978 |title=Construction Market In New York Shows Signs of Recovering: Numerous Office Buildings, Hotels, Apartments Are in Works, Citibank Aide Says |page=20 |work=Wall Street Journal |issn=0099-9660 |id={{ProQuest|134228514}}}}</ref><ref>{{Cite news |last=Horsley |first=Carter B. |date=1978-01-29 |title=Office Market Jumping Again |language=en-US |work=The New York Times |url=https://www.nytimes.com/1978/01/29/archives/office-market-jumping-again-office-market-jumping-again.html |access-date=2022-07-07 |issn=0362-4331 |archive-date=July 7, 2022 |archive-url=https://web.archive.org/web/20220707235223/https://www.nytimes.com/1978/01/29/archives/office-market-jumping-again-office-market-jumping-again.html |url-status=live }}</ref> The developers planned to name the building "Park Avenue Plaza", though the Manhattan [[borough president]]'s office had to approve this name.<ref>{{Cite news |last=Horsley |first=Carter B. |date=1978-04-30 |title=In Environs Of Grand Central, New Strength |language=en-US |work=The New York Times |url=https://www.nytimes.com/1978/04/30/archives/in-environs-of-grand-central-new-strength-a-dramatic-turn-for-the.html |access-date=2022-07-07 |issn=0362-4331 |archive-date=July 7, 2022 |archive-url=https://web.archive.org/web/20220707235220/https://www.nytimes.com/1978/04/30/archives/in-environs-of-grand-central-new-strength-a-dramatic-turn-for-the.html |url-status=live }}</ref> Fisher Brothers wanted to build an entrance to its office building through the clubhouse, but the firm and the club were unable to agree on this aspect of the design.<ref name="nyt-1997-11-23">{{Cite news |last=Gray |first=Christopher |date=1997-11-23 |title=Streetscapes/The Racquet & Tennis Club; A Park Ave. Anomaly Dedicated to Arcane Sports |language=en-US |work=The New York Times |url=https://www.nytimes.com/1997/11/23/realestate/streetscapes-racquet-tennis-club-park-ave-anomaly-dedicated-arcane-sports.html |access-date=2022-07-07 |issn=0362-4331 |archive-date=July 7, 2022 |archive-url=https://web.archive.org/web/20220707235222/https://www.nytimes.com/1997/11/23/realestate/streetscapes-racquet-tennis-club-park-ave-anomaly-dedicated-arcane-sports.html |url-status=live }}</ref> Instead, the developers' lawyer [[Samuel H. Liddenbaum]] requested a Park Avenue address from the borough president's office, and he proposed that the building include an enclosed atrium or galleria.<ref name="nyt-1981-07-12">{{Cite news |last=Jonnes |first=Jill |date=1981-07-12 |title=City's Zoning: a Tough Game That Few Can Play |language=en-US |work=The New York Times |url=https://www.nytimes.com/1981/07/12/realestate/city-s-zoning-a-tough-game-that-few-can-play.html |access-date=2022-07-08 |issn=0362-4331 |archive-date=July 8, 2022 |archive-url=https://web.archive.org/web/20220708213803/https://www.nytimes.com/1981/07/12/realestate/city-s-zoning-a-tough-game-that-few-can-play.html |url-status=live }}</ref>
-Negotiations between Fisher Brothers and the Racquet and Tennis Club were halted after the [[New York City Department of City Planning]] (DCP) announced in 1978 that Fisher Brothers could not only have an address on Park Avenue, but also up to {{cvt|200000|ft2}} of additional office space, if the developers built a {{convert|60|ft|m|-high|adj=mid}} galleria.<ref name="nyt-1978-03-31" /><ref name="Stern (2006) p. 513">{{harvnb|Stern|Fishman|Tilove|2006|ps=.|p=513}}</ref> The "galleria bonus" would increase the amount of rentable floor area in the new building by 20 percent, raising the [[floor area ratio]] from 15 to 18. Fisher Brothers agreed to maintain public restrooms and add a cafe to the galleria.<ref name="nyt-1978-05-24">{{Cite news |date=1978-05-24 |title=Real Estate |language=en-US |work=The New York Times |url=https://www.nytimes.com/1978/05/24/archives/real-estate-developers-debating-amenities-for-public.html |access-date=2022-07-07 |issn=0362-4331}}</ref> The developers also proposed allocating $100,000 toward the renovation of the Fifth Avenue/53rd Street station.<ref name="nyt-1978-05-02">{{Cite news |last=Kaiser |first=Charles |date=1978-05-02 |title=Midtown Developer Gets Variance Allowing Additional Office Space |language=en-US |work=The New York Times |url=https://www.nytimes.com/1978/05/02/archives/midtown-developer-gets-variance-allowing-additional-office-space.html |access-date=2022-07-07 |issn=0362-4331}}</ref><ref name="n105171063">{{Cite news |last=Lieberman |first=Mark |date=1978-05-04 |title=E. Side Tower With 'Indoor Park' is OKd |pages=23 |work=Daily News |url=https://www.newspapers.com/clip/105171063/e-side-tower-with-indoor-park-is/ |access-date=2022-07-07}}</ref> The New York City Planning Commission (CPC) voted 4–2 to approve the galleria bonus in May 1978. Two commissioners had voted against the measure on the grounds that the galleria would provide little "public benefit".<ref name="nyt-1978-05-02" /><ref name="n105171063" />
+Negotiations between Fisher Brothers and the Racquet and Tennis Club were halted after the [[New York City Department of City Planning]] (DCP) announced in 1978 that Fisher Brothers could not only have an address on Park Avenue, but also up to {{cvt|200000|ft2}} of additional office space, if the developers built a {{convert|60|ft|m|-high|adj=mid}} galleria.<ref name="nyt-1978-03-31" /><ref name="Stern (2006) p. 513">{{harvnb|Stern|Fishman|Tilove|2006|ps=.|p=513}}</ref> The "galleria bonus" would increase the amount of rentable floor area in the new building by 20 percent, raising the [[floor area ratio]] from 15 to 18. Fisher Brothers agreed to maintain public restrooms and add a cafe to the galleria.<ref name="nyt-1978-05-24">{{Cite news |date=1978-05-24 |title=Real Estate |language=en-US |work=The New York Times |url=https://www.nytimes.com/1978/05/24/archives/real-estate-developers-debating-amenities-for-public.html |access-date=2022-07-07 |issn=0362-4331 |archive-date=July 7, 2022 |archive-url=https://web.archive.org/web/20220707235221/https://www.nytimes.com/1978/05/24/archives/real-estate-developers-debating-amenities-for-public.html |url-status=live }}</ref> The developers also proposed allocating $100,000 toward the renovation of the Fifth Avenue/53rd Street station.<ref name="nyt-1978-05-02">{{Cite news |last=Kaiser |first=Charles |date=1978-05-02 |title=Midtown Developer Gets Variance Allowing Additional Office Space |language=en-US |work=The New York Times |url=https://www.nytimes.com/1978/05/02/archives/midtown-developer-gets-variance-allowing-additional-office-space.html |access-date=2022-07-07 |issn=0362-4331 |archive-date=July 7, 2022 |archive-url=https://web.archive.org/web/20220707235222/https://www.nytimes.com/1978/05/02/archives/midtown-developer-gets-variance-allowing-additional-office-space.html |url-status=live }}</ref><ref name="n105171063">{{Cite news |last=Lieberman |first=Mark |date=1978-05-04 |title=E. Side Tower With 'Indoor Park' is OKd |pages=23 |work=New York Daily News |via=newspapers.com |url=https://www.newspapers.com/clip/105171063/e-side-tower-with-indoor-park-is/ |access-date=2022-07-07 |archive-date=July 8, 2022 |archive-url=https://web.archive.org/web/20220708215113/https://www.newspapers.com/clip/105171063/e-side-tower-with-indoor-park-is/ |url-status=live }}</ref> The New York City Planning Commission (CPC) voted 4–2 to approve the galleria bonus in May 1978. Two commissioners had voted against the measure on the grounds that the galleria would provide little "public benefit".<ref name="nyt-1978-05-02" /><ref name="n105171063" />
-By early 1978, the new building was planned to cost $82 million.<ref>{{Cite news |last=Oser |first=Alan S. |date=1978-02-08 |title=About Real Estate Developer Recycles Film House Into a Successful Store Group |language=en-US |work=The New York Times |url=https://www.nytimes.com/1978/02/08/archives/about-real-estate-developer-recycles-film-house-into-a-successful.html |access-date=2022-07-07 |issn=0362-4331}}</ref> That March, the Racquet and Tennis Club informally proposed the construction of a 38-story hotel above its clubhouse, to be designed by Jonathan Morse, a club member.<ref name="nyt-1978-03-31">{{Cite news |last=Horsley |first=Carter B. |date=1978-03-31 |title=Hotel Is Planned Over Racquet and Tennis Club |language=en-US |work=The New York Times |url=https://www.nytimes.com/1978/03/31/archives/hotel-is-planned-over-racquet-and-tennis-club-a-galleria-is-a-key.html |access-date=2022-07-07 |issn=0362-4331}}</ref> This would have blocked most eastward views from Fisher Brothers' building.<ref name="nyt-1997-11-23" /> In August, the club submitted formal plans for a 35-story luxury hotel.<ref name="Stern (2006) p. 513" /><ref name="nyt-1978-07-29">{{Cite news |last=Horsley |first=Carter B. |date=1978-07-29 |title=3 Prominent Midtown Hotels Sold; 2 May Be Turned Into Apartments |language=en-US |work=The New York Times |url=https://www.nytimes.com/1978/07/29/archives/3-prominent-midtown-hotels-sold-2-may-be-turned-into-apartments.html |access-date=2022-07-07 |issn=0362-4331}}</ref> As a result, in November 1978, Fisher Brothers opted not to accept the galleria bonus from the city, and it resumed negotiations with the Racquet and Tennis Club.<ref name="Stern (2006) p. 513" /><ref name="nyt-1978-11-12">{{Cite news |date=1978-11-12 |title=Realty News A Rash of New Building Projects |language=en-US |work=The New York Times |url=https://www.nytimes.com/1978/11/12/archives/realty-news-a-rash-of-new-building-projects-a-rash-of-new-building.html |access-date=2022-07-07 |issn=0362-4331}}</ref> The firm paid the club $5 million for the clubhouse's air rights.<ref name="nyt-1978-11-12" /> This provided funding for the club's protection while also allowing Fisher Brothers to obtain the same amount of floor space that it would have received through the zoning bonus.<ref name="nyt-1978-12-11">{{Cite news |last=Goldberger |first=Paul |date=1978-12-11 |title=New Buildings Squeezing Into a Crowded Midtown |language=en-US |work=The New York Times |url=https://www.nytimes.com/1978/12/11/archives/new-buildings-squeezing-into-a-crowded-midtown-municipal-role.html |access-date=2022-07-07 |issn=0362-4331}}</ref> The CPC gave Fisher Brothers permission to reduce the atrium's height in exchange for two additional office floors, the construction of which would pay for the air rights.<ref name="nyt-1981-07-12" /><ref name="Stern (2006) p. 515" /> Morse refused to say if the club had actually planned to act on the hotel proposal.<ref name="nyt-1997-11-23" /><ref name="Stern (2006) pp. 513-515">{{harvnb|Stern|Fishman|Tilove|2006|ps=.|pp=513–515}}</ref> [[Christopher Gray]] described the move as "perhaps the biggest game of real estate 'chicken' ever played in New York".<ref name="nyt-1997-11-23" /><ref name="Stern (2006) p. 513" /> The city also approved the proposed "Park Avenue Plaza" name.<ref name="nyt-1979-03-14">{{Cite news |last=Horsley |first=Carter B. |date=1979-03-14 |title=Ground Broken For a Skyscraper On Park Avenue |language=en-US |work=The New York Times |url=https://www.nytimes.com/1979/03/14/archives/ground-broken-for-a-skyscraper-on-park-avenue-3-office-tenants.html |access-date=2022-07-08 |issn=0362-4331}}</ref>
+By early 1978, the new building was planned to cost $82 million.<ref>{{Cite news |last=Oser |first=Alan S. |date=1978-02-08 |title=About Real Estate Developer Recycles Film House Into a Successful Store Group |language=en-US |work=The New York Times |url=https://www.nytimes.com/1978/02/08/archives/about-real-estate-developer-recycles-film-house-into-a-successful.html |access-date=2022-07-07 |issn=0362-4331 |archive-date=July 8, 2022 |archive-url=https://web.archive.org/web/20220708045526/https://www.nytimes.com/1978/02/08/archives/about-real-estate-developer-recycles-film-house-into-a-successful.html |url-status=live }}</ref> That March, the Racquet and Tennis Club informally proposed the construction of a 38-story hotel above its clubhouse, to be designed by Jonathan Morse, a club member.<ref name="nyt-1978-03-31">{{Cite news |last=Horsley |first=Carter B. |date=1978-03-31 |title=Hotel Is Planned Over Racquet and Tennis Club |language=en-US |work=The New York Times |url=https://www.nytimes.com/1978/03/31/archives/hotel-is-planned-over-racquet-and-tennis-club-a-galleria-is-a-key.html |access-date=2022-07-07 |issn=0362-4331 |archive-date=July 7, 2022 |archive-url=https://web.archive.org/web/20220707061437/https://www.nytimes.com/1978/03/31/archives/hotel-is-planned-over-racquet-and-tennis-club-a-galleria-is-a-key.html |url-status=live }}</ref> This would have blocked most eastward views from Fisher Brothers' building.<ref name="nyt-1997-11-23" /> In August, the club submitted formal plans for a 35-story luxury hotel.<ref name="Stern (2006) p. 513" /><ref name="nyt-1978-07-29">{{Cite news |last=Horsley |first=Carter B. |date=1978-07-29 |title=3 Prominent Midtown Hotels Sold; 2 May Be Turned Into Apartments |language=en-US |work=The New York Times |url=https://www.nytimes.com/1978/07/29/archives/3-prominent-midtown-hotels-sold-2-may-be-turned-into-apartments.html |access-date=2022-07-07 |issn=0362-4331 |archive-date=April 3, 2022 |archive-url=https://web.archive.org/web/20220403031051/https://www.nytimes.com/1978/07/29/archives/3-prominent-midtown-hotels-sold-2-may-be-turned-into-apartments.html |url-status=live }}</ref> As a result, in November 1978, Fisher Brothers opted not to accept the galleria bonus from the city, and it resumed negotiations with the Racquet and Tennis Club.<ref name="Stern (2006) p. 513" /><ref name="nyt-1978-11-12">{{Cite news |date=1978-11-12 |title=Realty News A Rash of New Building Projects |language=en-US |work=The New York Times |url=https://www.nytimes.com/1978/11/12/archives/realty-news-a-rash-of-new-building-projects-a-rash-of-new-building.html |access-date=2022-07-07 |issn=0362-4331 |archive-date=July 7, 2022 |archive-url=https://web.archive.org/web/20220707235222/https://www.nytimes.com/1978/11/12/archives/realty-news-a-rash-of-new-building-projects-a-rash-of-new-building.html |url-status=live }}</ref> The firm paid the club $5 million to not build the hotel, instead acquiring the clubhouse's air rights.<ref name="nyt-1978-11-12" /> This provided funding for the club's protection while also allowing Fisher Brothers to obtain the same amount of floor space that it would have received through the zoning bonus.<ref name="nyt-1978-12-11">{{Cite news |last=Goldberger |first=Paul |date=1978-12-11 |title=New Buildings Squeezing Into a Crowded Midtown |language=en-US |work=The New York Times |url=https://www.nytimes.com/1978/12/11/archives/new-buildings-squeezing-into-a-crowded-midtown-municipal-role.html |access-date=2022-07-07 |issn=0362-4331 |archive-date=April 21, 2021 |archive-url=https://web.archive.org/web/20210421223517/https://www.nytimes.com/1978/12/11/archives/new-buildings-squeezing-into-a-crowded-midtown-municipal-role.html |url-status=live }}</ref> The CPC gave Fisher Brothers permission to reduce the atrium's height in exchange for two additional office floors, the construction of which would pay for the air rights.<ref name="nyt-1981-07-12" /><ref name="Stern (2006) p. 515" /> Morse refused to say if the club had actually planned to act on the hotel proposal.<ref name="nyt-1997-11-23" /><ref name="Stern (2006) pp. 513-515">{{harvnb|Stern|Fishman|Tilove|2006|ps=.|pp=513–515}}</ref> [[Christopher Gray (architectural historian)|Christopher Gray]] described the move as "perhaps the biggest game of real estate 'chicken' ever played in New York".<ref name="nyt-1997-11-23" /><ref name="Stern (2006) p. 513" /> The city also approved the proposed "Park Avenue Plaza" name.<ref name="nyt-1979-03-14">{{Cite news |last=Horsley |first=Carter B. |date=1979-03-14 |title=Ground Broken For a Skyscraper On Park Avenue |language=en-US |work=The New York Times |url=https://www.nytimes.com/1979/03/14/archives/ground-broken-for-a-skyscraper-on-park-avenue-3-office-tenants.html |access-date=2022-07-08 |issn=0362-4331 |archive-date=July 8, 2022 |archive-url=https://web.archive.org/web/20220708045527/https://www.nytimes.com/1979/03/14/archives/ground-broken-for-a-skyscraper-on-park-avenue-3-office-tenants.html |url-status=live }}</ref>
 ==== Construction ====
-In December 1978, the city government's Industrial and Commercial Incentive Board granted Fisher Brothers a $6.6 million tax abatement to be payable over ten years.<ref name="nyt-1978-12-20" /><ref name="Stern (2006) p. 515">{{harvnb|Stern|Fishman|Tilove|2006|ps=.|p=515}}</ref> The abatement was approved even though commission staff had privately recommended against it.<ref name="nyt-1978-12-20">{{Cite news |date=1978-12-20 |title=3 Proposed Midtown Towers to Get Nearly $30 Million in Abatements |language=en-US |work=The New York Times |url=https://www.nytimes.com/1978/12/20/archives/3-proposed-midtown-towers-to-get-nearly-30-million-in-abatements.html |access-date=2022-07-07 |issn=0362-4331}}</ref> The building was conceived as a [[speculative development]] without any anchor tenant in mind.<ref>{{Cite news |last=Oser |first=Alan S. |date=1980-06-23 |title=New York Office Market Gains; Demand, Rents And Building Are on the Rise Pressure on Rents New York's Office Market Strengthens Lenders Cautious |language=en-US |work=The New York Times |url=https://www.nytimes.com/1980/06/23/archives/new-york-office-market-gains-demand-rents-and-building-are-on-the.html |access-date=2022-07-08 |issn=0362-4331}}</ref> A groundbreaking ceremony for the project was held in March 1979.<ref name="nyt-1979-03-14" /><ref name="Stern (2006) p. 515" /> At the time, {{convert|861,000|ft2}} of office space had already been leased by insurance company Alexander & Alexander, financial-services firm [[First Boston]], and management consultant [[McKinsey & Company]].<ref name="nyt-1979-03-14" /> Alexander & Alexander ultimately canceled its lease, although First Boston took 16 floors and McKinsey took five floors.<ref name="nyt-1979-11-14">{{Cite news |date=1979-11-14 |title=About Real Estate; 4 Big Leases Already Signed for Office Building Going Up |language=en-US |work=The New York Times |url=https://www.nytimes.com/1979/11/14/archives/about-real-estate-4-big-leases-already-signed-for-office-building.html |access-date=2022-07-08 |issn=0362-4331}}</ref> Fisher Brothers initially charged rents of {{convert|22|to|23|$/ft2}},<ref>{{Cite news |last=Oser |first=Alan S. |date=1979-07-25 |title=About Real Estate Commercial Abatements Debated as Market Improves |language=en-US |work=The New York Times |url=https://www.nytimes.com/1979/07/25/archives/about-real-estate-commercial-abatements-debated-as-market-improves.html |access-date=2022-07-08 |issn=0362-4331}}</ref> and the first tenants signed leases at these relatively low rates.<ref>{{Cite news |last=Horsley |first=Carter B. |date=1980-04-20 |title=Owners Press To Tighten Lease Terms; Owners Press To Tighten Lease Terms |language=en-US |work=The New York Times |url=https://www.nytimes.com/1980/04/20/archives/owners-press-to-tighten-lease-terms-owners-press-to-tighten-lease.html |access-date=2022-07-08 |issn=0362-4331}}</ref> Fisher Brothers then acquired the adjacent CBS Studio Building to protect westward views from the new tower.<ref name="nyt-1988-08-07">{{Cite news |last=Gray |first=Christopher |date=1988-08-07 |title=Streetscapes: CBS Studio on 52d; At One Time, the 'Last Word in Broadcasting Design' |language=en-US |work=The New York Times |url=https://www.nytimes.com/1988/08/07/realestate/streetscapes-cbs-studio-on-52d-at-one-time-the-last-word-in-broadcasting-design.html |access-date=2022-07-08 |issn=0362-4331}}</ref>{{efn|Fisher Brothers acquired the land under the CBS Studio Building in 1979, but it did not acquire the building itself until 1993.<ref name=nyt-1996-10-20/>}}
+In December 1978, the city government's Industrial and Commercial Incentive Board granted Fisher Brothers a $6.6 million tax abatement to be payable over ten years.<ref name="nyt-1978-12-20" /><ref name="Stern (2006) p. 515">{{harvnb|Stern|Fishman|Tilove|2006|ps=.|p=515}}</ref> The abatement was approved even though commission staff had privately recommended against it.<ref name="nyt-1978-12-20">{{Cite news |date=1978-12-20 |title=3 Proposed Midtown Towers to Get Nearly $30 Million in Abatements |language=en-US |work=The New York Times |url=https://www.nytimes.com/1978/12/20/archives/3-proposed-midtown-towers-to-get-nearly-30-million-in-abatements.html |access-date=2022-07-07 |issn=0362-4331 |archive-date=April 12, 2021 |archive-url=https://web.archive.org/web/20210412235944/https://www.nytimes.com/1978/12/20/archives/3-proposed-midtown-towers-to-get-nearly-30-million-in-abatements.html |url-status=live }}</ref> The building was conceived as a [[speculative development]] without any anchor tenant in mind.<ref>{{Cite news |last=Oser |first=Alan S. |date=1980-06-23 |title=New York Office Market Gains; Demand, Rents And Building Are on the Rise Pressure on Rents New York's Office Market Strengthens Lenders Cautious |language=en-US |work=The New York Times |url=https://www.nytimes.com/1980/06/23/archives/new-york-office-market-gains-demand-rents-and-building-are-on-the.html |access-date=2022-07-08 |issn=0362-4331 |archive-date=July 8, 2022 |archive-url=https://web.archive.org/web/20220708194135/https://www.nytimes.com/1980/06/23/archives/new-york-office-market-gains-demand-rents-and-building-are-on-the.html |url-status=live }}</ref> A groundbreaking ceremony for the project was held in March 1979.<ref name="nyt-1979-03-14" /><ref name="Stern (2006) p. 515" /> At the time, {{convert|861,000|ft2}} of office space had already been leased by insurance company Alexander & Alexander, financial-services firm [[First Boston]], and management consultant [[McKinsey & Company]].<ref name="nyt-1979-03-14" /> Alexander & Alexander ultimately canceled its lease, although First Boston took 16 floors and McKinsey took five floors.<ref name="nyt-1979-11-14">{{Cite news |date=1979-11-14 |title=About Real Estate; 4 Big Leases Already Signed for Office Building Going Up |language=en-US |work=The New York Times |url=https://www.nytimes.com/1979/11/14/archives/about-real-estate-4-big-leases-already-signed-for-office-building.html |access-date=2022-07-08 |issn=0362-4331 |archive-date=July 8, 2022 |archive-url=https://web.archive.org/web/20220708045526/https://www.nytimes.com/1979/11/14/archives/about-real-estate-4-big-leases-already-signed-for-office-building.html |url-status=live }}</ref> Fisher Brothers initially charged rents of {{convert|22|to|23|$/ft2}},<ref>{{Cite news |last=Oser |first=Alan S. |date=1979-07-25 |title=About Real Estate Commercial Abatements Debated as Market Improves |language=en-US |work=The New York Times |url=https://www.nytimes.com/1979/07/25/archives/about-real-estate-commercial-abatements-debated-as-market-improves.html |access-date=2022-07-08 |issn=0362-4331 |archive-date=July 8, 2022 |archive-url=https://web.archive.org/web/20220708194100/https://www.nytimes.com/1979/07/25/archives/about-real-estate-commercial-abatements-debated-as-market-improves.html |url-status=live }}</ref> and the first tenants signed leases at these relatively low rates.<ref>{{Cite news |last=Horsley |first=Carter B. |date=1980-04-20 |title=Owners Press To Tighten Lease Terms; Owners Press To Tighten Lease Terms |language=en-US |work=The New York Times |url=https://www.nytimes.com/1980/04/20/archives/owners-press-to-tighten-lease-terms-owners-press-to-tighten-lease.html |access-date=2022-07-08 |issn=0362-4331 |archive-date=July 8, 2022 |archive-url=https://web.archive.org/web/20220708194135/https://www.nytimes.com/1980/04/20/archives/owners-press-to-tighten-lease-terms-owners-press-to-tighten-lease.html |url-status=live }}</ref> Fisher Brothers then acquired the adjacent CBS Studio Building to protect westward views from the new tower.<ref name="nyt-1988-08-07">{{Cite news |last=Gray |first=Christopher |date=1988-08-07 |title=Streetscapes: CBS Studio on 52d; At One Time, the 'Last Word in Broadcasting Design' |language=en-US |work=The New York Times |url=https://www.nytimes.com/1988/08/07/realestate/streetscapes-cbs-studio-on-52d-at-one-time-the-last-word-in-broadcasting-design.html |access-date=2022-07-08 |issn=0362-4331 |archive-date=July 9, 2022 |archive-url=https://web.archive.org/web/20220709000003/https://www.nytimes.com/1988/08/07/realestate/streetscapes-cbs-studio-on-52d-at-one-time-the-last-word-in-broadcasting-design.html |url-status=live }}</ref>{{efn|Fisher Brothers acquired the land under the CBS Studio Building in 1979, but it did not acquire the building itself until 1993.<ref name=nyt-1996-10-20/>}}
-In the first phase of construction, workers poured concrete footings atop the bedrock, embedding steel bolts into the footings. Workers then bolted steel girders to the bolts, using two [[Derrick|derricks]] to bolt the girders together as the superstructure rose.<ref name="nyt-1980-05-18" /> Accounting firm [[Main Hurdman & Cranstoun]] leased seven floors<ref name="nyt-1979-11-14" /> in the building in June 1979.<ref>{{Cite news |last=Fowler |first=Glenn |date=1979-06-17 |title=Realty News |language=en-US |work=The New York Times |url=https://www.nytimes.com/1979/06/17/archives/realty-news-livingston-nj-park-avenue-lease.html |access-date=2022-07-08 |issn=0362-4331}}</ref><ref>{{Cite news |date=1979-06-02 |title=City adds up, says this accounting firm |pages=178 |work=Daily News |url=https://www.newspapers.com/clip/105217878/city-adds-up-says-this-accounting-firm/ |access-date=2022-07-08}}</ref> By the end of that year, fashion firm [[Elizabeth Arden, Inc.]] had also agreed to occupy four floors. Though Park Avenue Plaza was only about 10 percent complete at the time, nearly 90 percent of the space had been leased, with only {{cvt|150000|ft2}} still available.<ref name="nyt-1979-11-14" /> As the superstructure was being erected, the contractors constructed corrugated steel decks on each story, then poured concrete over each of the corrugated-steel decks. Workers then sprayed a layer of fireproofing onto the superstructure.<ref name="nyt-1980-05-18" /> A group of demonstrators stormed the construction site in 1980, claiming that Fisher Brothers had not hired enough [[Minority groups in the United States|minority]] workers; one worker was injured during the protests.<ref>{{Cite news |last=Barbanel |first=Josh |date=1980-05-07 |title=A Building Site On 52d Stormed By Job Hunters; Minority Protesters Clash With Workers 3 Held Activities Expanded |language=en-US |work=The New York Times |url=https://www.nytimes.com/1980/05/07/archives/a-building-site-on-52d-stormed-by-job-hunters-minority-protesters.html |access-date=2022-07-08 |issn=0362-4331}}</ref><ref>{{Cite news |last=Hanrahan |first=Thomas |date=1980-05-07 |title=Blacks and workers fight at building site |pages=282 |work=Daily News |url=https://www.newspapers.com/clip/105222618/blacks-and-workers-fight-at-building/ |access-date=2022-07-08}}</ref>
+In the first phase of construction, workers poured concrete footings atop the bedrock, embedding steel bolts into the footings. Workers then bolted steel girders to the bolts, using two [[Derrick|derricks]] to bolt the girders together as the superstructure rose.<ref name="nyt-1980-05-18" /> Accounting firm [[Main Hurdman & Cranstoun]] leased seven floors<ref name="nyt-1979-11-14" /> in the building in June 1979.<ref>{{Cite news |last=Fowler |first=Glenn |date=1979-06-17 |title=Realty News |language=en-US |work=The New York Times |url=https://www.nytimes.com/1979/06/17/archives/realty-news-livingston-nj-park-avenue-lease.html |access-date=2022-07-08 |issn=0362-4331 |archive-date=July 8, 2022 |archive-url=https://web.archive.org/web/20220708194059/https://www.nytimes.com/1979/06/17/archives/realty-news-livingston-nj-park-avenue-lease.html |url-status=live }}</ref><ref>{{Cite news |date=1979-06-02 |title=City adds up, says this accounting firm |pages=178 |work=New York Daily News |via=newspapers.com |url=https://www.newspapers.com/clip/105217878/city-adds-up-says-this-accounting-firm/ |access-date=2022-07-08 |archive-date=July 8, 2022 |archive-url=https://web.archive.org/web/20220708215109/https://www.newspapers.com/clip/105217878/city-adds-up-says-this-accounting-firm/ |url-status=live }}</ref> By the end of that year, fashion firm [[Elizabeth Arden, Inc.]] had also agreed to occupy four floors. Though Park Avenue Plaza was about 10 percent complete at the time, nearly 90 percent of the space had been leased, with {{cvt|150000|ft2}} still available.<ref name="nyt-1979-11-14" /> As the superstructure was being erected, the contractors constructed corrugated steel decks on each story, then poured concrete over each of the corrugated-steel decks. Workers then sprayed a layer of fireproofing onto the superstructure.<ref name="nyt-1980-05-18" /> A group of demonstrators stormed the construction site in 1980, claiming that Fisher Brothers had not hired enough [[Minority groups in the United States|minority]] workers; one worker was injured during the protests.<ref>{{Cite news |last=Barbanel |first=Josh |date=1980-05-07 |title=A Building Site On 52d Stormed By Job Hunters; Minority Protesters Clash With Workers 3 Held Activities Expanded |language=en-US |work=The New York Times |url=https://www.nytimes.com/1980/05/07/archives/a-building-site-on-52d-stormed-by-job-hunters-minority-protesters.html |access-date=2022-07-08 |issn=0362-4331 |archive-date=July 8, 2022 |archive-url=https://web.archive.org/web/20220708213754/https://www.nytimes.com/1980/05/07/archives/a-building-site-on-52d-stormed-by-job-hunters-minority-protesters.html |url-status=live }}</ref><ref>{{Cite news |last=Hanrahan |first=Thomas |date=1980-05-07 |title=Blacks and workers fight at building site |pages=282 |work=New York Daily News |via=newspapers.com |url=https://www.newspapers.com/clip/105222618/blacks-and-workers-fight-at-building/ |access-date=2022-07-08 |archive-date=July 8, 2022 |archive-url=https://web.archive.org/web/20220708215112/https://www.newspapers.com/clip/105222618/blacks-and-workers-fight-at-building/ |url-status=live }}</ref>
 === 1980s and 1990s ===
-The ground-floor atrium had opened by August 1981, and tenants had started to move into the building.<ref name="nyt-1981-08-30">{{Cite news |last=Goldberger |first=Paul |date=1981-08-30 |title=Architecture View; The Building Boom Gives Birth |language=en-US |work=The New York Times |url=https://www.nytimes.com/1981/08/30/arts/architecture-view-the-building-boom-gives-birth.html |access-date=2022-07-08 |issn=0362-4331}}</ref> The same year, [[Banque de Paris et des Pays Bas]] subleased some space from First Boston,<ref name="p121810631">{{cite news |last=Horsley |first=Carter B. |date=3 May 1981 |title=Conversions Led Housing Market in 1980 |page=R12 |work=The New York Times |issn=0362-4331 |id={{ProQuest|121810631}}}}</ref> and First Boston bought a 22% ownership stake in the tower.<ref name="p398076034">{{cite news |date=23 Dec 1987 |title=Business Brief: First Boston Inc. |page=1 |work=Wall Street Journal |issn=0099-9660 |id={{ProQuest|398076034}}}}</ref> That September, Fisher Brothers reportedly negotiated to sell the building to a Middle Eastern investment group.<ref>{{Cite news |last=Oser |first=Alan S. |date=1981-09-23 |title=Real Estate; A Flurry Of Deals in Manhattan |language=en-US |work=The New York Times |url=https://www.nytimes.com/1981/09/23/business/real-estate-a-flurry-of-deals-in-manhattan.html |access-date=2022-07-08 |issn=0362-4331}}</ref> The retail stores in the building's base were still not completed by early 1982.<ref name="nyt-1982-02-20" /><ref name="Stern (2006) p. 515" /> Because the building was about 100 feet west of Park Avenue, the [[United States Postal Service]] would not deliver mail addressed solely to "Park Avenue Plaza" unless it was also addressed to 55 East 52nd Street. This prompted Fisher Brothers to apply for a unique [[ZIP Code]] for the building, which required that the owners prove that the tenants would receive a high volume of mail. First Boston tasked several employees with estimating the volume of mail it would receive. Park Avenue Plaza ultimately received its own ZIP Code, which allowed the delivery of mail that was addressed solely to "Park Avenue Plaza".<ref name="p134837402" />
+The ground-floor atrium had opened by August 1981, and tenants had started to move into the building.<ref name="nyt-1981-08-30">{{Cite news |last=Goldberger |first=Paul |date=1981-08-30 |title=Architecture View; The Building Boom Gives Birth |language=en-US |work=The New York Times |url=https://www.nytimes.com/1981/08/30/arts/architecture-view-the-building-boom-gives-birth.html |access-date=2022-07-08 |issn=0362-4331 |archive-date=July 8, 2022 |archive-url=https://web.archive.org/web/20220708213802/https://www.nytimes.com/1981/08/30/arts/architecture-view-the-building-boom-gives-birth.html |url-status=live }}</ref> The same year, [[Banque de Paris et des Pays Bas]] subleased some space from First Boston,<ref name="p121810631">{{cite news |last=Horsley |first=Carter B. |date=3 May 1981 |title=Conversions Led Housing Market in 1980 |page=R12 |work=The New York Times |issn=0362-4331 |id={{ProQuest|121810631}}}}</ref> and First Boston bought a 22% ownership stake in the tower.<ref name="p398076034">{{cite news |date=23 Dec 1987 |title=Business Brief: First Boston Inc. |page=1 |work=Wall Street Journal |issn=0099-9660 |id={{ProQuest|398076034}}}}</ref> That September, Fisher Brothers reportedly negotiated to sell the building to a Middle Eastern investment group.<ref>{{Cite news |last=Oser |first=Alan S. |date=1981-09-23 |title=Real Estate; A Flurry Of Deals in Manhattan |language=en-US |work=The New York Times |url=https://www.nytimes.com/1981/09/23/business/real-estate-a-flurry-of-deals-in-manhattan.html |access-date=2022-07-08 |issn=0362-4331 |archive-date=July 8, 2022 |archive-url=https://web.archive.org/web/20220708213804/https://www.nytimes.com/1981/09/23/business/real-estate-a-flurry-of-deals-in-manhattan.html |url-status=live }}</ref> The retail stores in the building's base were still not completed by early 1982.<ref name="nyt-1982-02-20" /><ref name="Stern (2006) p. 515" /> Because the building was about 100 feet west of Park Avenue, the [[United States Postal Service]] would not deliver mail addressed solely to "Park Avenue Plaza" unless it was also addressed to 55 East 52nd Street. This prompted Fisher Brothers to apply for a unique [[ZIP Code]] for the building, which required that the owners prove that the tenants would receive a high volume of mail. First Boston tasked several employees with estimating the volume of mail it would receive. Park Avenue Plaza ultimately received its own ZIP Code, which allowed the delivery of mail that was addressed solely to "Park Avenue Plaza".<ref name="p134837402" />
-By the mid-1980s, a ''Newsday'' writer said the atrium was one of several that was bringing "New York's shoppers in off the streets".<ref>{{Cite news |last=Fitzgerald |first=Sheryl |date=1986-02-02 |title=Shopping Malls Are Looking Up |pages=121, [https://www.newspapers.com/clip/105236134/ 124], [https://www.newspapers.com/clip/105236165/ 125] |work=Newsday |url=https://www.newspapers.com/clip/105236087/shopping-malls-are-looking-upsheryl/ |access-date=2022-07-08}}</ref> The atrium had a cafe and several storefronts.<ref name="nyt-1985-03-24" /> The space also hosted exhibits such as a showcase of sheet music,<ref>{{Cite news |last=Barry |first=Ann |date=1988-02-21 |title=ANTIQUES; Sheet Music Is More Than Just Song Titles |language=en-US |work=The New York Times |url=https://www.nytimes.com/1988/02/21/arts/antiques-sheet-music-is-more-than-just-song-titles.html |access-date=2022-07-08 |issn=0362-4331}}</ref> as well as musical performances.<ref name="nyt-1989-12-22">{{Cite news |last=Shepard |first=Richard F. |date=1989-12-22 |title=Islands of Calm Amid the Urban Bustle |language=en-US |work=The New York Times |url=https://www.nytimes.com/1989/12/22/arts/islands-of-calm-amid-the-urban-bustle.html |access-date=2022-07-08 |issn=0362-4331}}</ref> Additionally, a large homeless encampment congregated in the atrium during its operating hours.<ref name="p239024897">{{Cite news |date=26 Mar 1987 |title=Elite New York towers shelter homeless |page=C18 |work=The Ottawa Citizen |id={{proQuest|239024897}}}}</ref> First Boston sold back its ownership stake in the building to Fisher Brothers in late 1987 for $80 million,<ref name="p398076034" /><ref>{{Cite news |date=1987-12-26 |title=Company News; First Boston Building Sale |language=en-US |work=The New York Times |url=https://www.nytimes.com/1987/12/26/business/company-news-first-boston-building-sale.html |access-date=2022-07-08 |issn=0362-4331}}</ref> in part to raise money for employee bonuses.<ref name="p1023785888">{{cite news |last=Siconolfi |first=Michael |last2=Raghavan |first2=Anita |date=9 Feb 1995 |title=CS First Boston Is Considering Broad Cuts |page=C1 |work=Wall Street Journal |issn=0099-9660 |id={{ProQuest|1023785888}}}}</ref> In exchange, the company agreed to pay higher rent.<ref name="p398076034" /> Park Avenue Plaza continued to attract financial firms, including [[Tokai Bank]], which leased several floors in 1989.<ref name="p219127916">{{cite magazine |last=Grant |first=Peter |date=4 Sep 1989 |title=After Leona: A Bleak Helmsley-Spear Future |magazine=Crain's New York Business |volume=5 |issue=36 |page=1 |id={{ProQuest|219127916}}}}</ref>
+By the mid-1980s, a ''Newsday'' writer said the atrium was one of several that was bringing "New York's shoppers in off the streets".<ref>{{Cite news |last=Fitzgerald |first=Sheryl |date=1986-02-02 |title=Shopping Malls Are Looking Up |pages=121, [https://www.newspapers.com/clip/105236134/ 124], [https://www.newspapers.com/clip/105236165/ 125] |work=Newsday |via=newspapers.com |url=https://www.newspapers.com/clip/105236087/shopping-malls-are-looking-upsheryl/ |access-date=2022-07-08 |archive-date=July 9, 2022 |archive-url=https://web.archive.org/web/20220709000014/https://www.newspapers.com/clip/105236087/shopping-malls-are-looking-upsheryl/ |url-status=live }}</ref> The atrium had a cafe and several storefronts.<ref name="nyt-1985-03-24" /> The space also hosted exhibits such as a showcase of sheet music,<ref>{{Cite news |last=Barry |first=Ann |date=1988-02-21 |title=ANTIQUES; Sheet Music Is More Than Just Song Titles |language=en-US |work=The New York Times |url=https://www.nytimes.com/1988/02/21/arts/antiques-sheet-music-is-more-than-just-song-titles.html |access-date=2022-07-08 |issn=0362-4331 |archive-date=July 8, 2022 |archive-url=https://web.archive.org/web/20220708225351/https://www.nytimes.com/1988/02/21/arts/antiques-sheet-music-is-more-than-just-song-titles.html |url-status=live }}</ref> as well as musical performances.<ref name="nyt-1989-12-22">{{Cite news |last=Shepard |first=Richard F. |date=1989-12-22 |title=Islands of Calm Amid the Urban Bustle |language=en-US |work=The New York Times |url=https://www.nytimes.com/1989/12/22/arts/islands-of-calm-amid-the-urban-bustle.html |access-date=2022-07-08 |issn=0362-4331 |archive-date=July 9, 2022 |archive-url=https://web.archive.org/web/20220709000007/https://www.nytimes.com/1989/12/22/arts/islands-of-calm-amid-the-urban-bustle.html |url-status=live }}</ref> Additionally, a large homeless encampment congregated in the atrium during its operating hours.<ref name="p239024897">{{Cite news |date=26 Mar 1987 |title=Elite New York towers shelter homeless |page=C18 |work=The Ottawa Citizen |id={{proQuest|239024897}}}}</ref> First Boston sold back its ownership stake in the building to Fisher Brothers in late 1987 for $80 million,<ref name="p398076034" /><ref>{{Cite news |date=1987-12-26 |title=Company News; First Boston Building Sale |language=en-US |work=The New York Times |url=https://www.nytimes.com/1987/12/26/business/company-news-first-boston-building-sale.html |access-date=2022-07-08 |issn=0362-4331 |archive-date=July 8, 2022 |archive-url=https://web.archive.org/web/20220708225351/https://www.nytimes.com/1987/12/26/business/company-news-first-boston-building-sale.html |url-status=live }}</ref> in part to raise money for employee bonuses.<ref name="p1023785888">{{cite news |last1=Siconolfi |first1=Michael |last2=Raghavan |first2=Anita |date=9 Feb 1995 |title=CS First Boston Is Considering Broad Cuts |page=C1 |work=Wall Street Journal |issn=0099-9660 |id={{ProQuest|1023785888}}}}</ref> In exchange, the company agreed to pay higher rent.<ref name="p398076034" /> Park Avenue Plaza continued to attract financial firms, including [[Tokai Bank]], which leased several floors in 1989.<ref name="p219127916">{{cite magazine |last=Grant |first=Peter |date=4 Sep 1989 |title=After Leona: A Bleak Helmsley-Spear Future |magazine=Crain's New York Business |volume=5 |issue=36 |page=1 |id={{ProQuest|219127916}}}}</ref>
-First Boston occupied over a third of the building, paying over {{convert|60|$/ft2}} until its lease expired in 1996.<ref name="p219103610">{{cite magazine |last=Slatin |first=Peter |date=19 Feb 1996 |title=Big debt, falling rent plague real estate owners |magazine=Crain's New York Business |volume=12 |issue=8 |page=4 |id={{ProQuest|219103610}}}}</ref> First Boston decided to move to [[11 Madison Avenue]], where the trading floors were more than twice as large as the {{cvt|40000|ft2}} trading floors at Park Avenue Plaza.<ref name="p219158544">{{cite magazine |last=Gross |first=Daniel |date=21 Oct 1996 |title=Wall St. bullish on space |magazine=Crain's New York Business |volume=12 |issue=43 |page=23 |id={{ProQuest|219158544}}}}</ref> The building's average rental rate was expected to decline following the relocation, making it harder for Fisher Brothers to pay off the $252 million that it still owed on the building's mortgage.<ref name="p219103610" /> Subsequently, Swiss Re leased six floors at the top of the building<ref name="p234921888" /> in late 1996.<ref name="p430693509">{{cite news |last=Rothstein |first=Mervyn |date=13 Nov 1996 |title=As Swiss Re prepares to head to Westchester, a big unit makes a commitment to Manhattan. |page=19 |work=The New York Times |issn=0362-4331 |id={{ProQuest|430693509}}}}</ref> The next year, the city government gave tax incentives to financial group [[ING Barings]] if the company agreed to lease space at Park Avenue Plaza and add jobs during that period.<ref>{{Cite news |last=Bagli |first=Charles V. |date=1997-04-07 |title=City Hall Deal Ties Subsidies To Job Growth |language=en-US |work=The New York Times |url=https://www.nytimes.com/1997/04/07/nyregion/city-hall-deal-ties-subsidies-to-job-growth.html |access-date=2022-07-09 |issn=0362-4331}}</ref>
+First Boston occupied over a third of the building, paying over {{convert|60|$/ft2}} until its lease expired in 1996.<ref name="p219103610">{{cite magazine |last=Slatin |first=Peter |date=19 Feb 1996 |title=Big debt, falling rent plague real estate owners |magazine=Crain's New York Business |volume=12 |issue=8 |page=4 |id={{ProQuest|219103610}}}}</ref> First Boston decided to move to [[11 Madison Avenue]], where the trading floors were more than twice as large as the {{cvt|40000|ft2}} trading floors at Park Avenue Plaza.<ref name="p219158544">{{cite magazine |last=Gross |first=Daniel |date=21 Oct 1996 |title=Wall St. bullish on space |magazine=Crain's New York Business |volume=12 |issue=43 |page=23 |id={{ProQuest|219158544}}}}</ref> The building's average rental rate was expected to decline following the relocation, making it harder for Fisher Brothers to pay off the $252 million that it still owed on the building's mortgage.<ref name="p219103610" /> Subsequently, Swiss Re leased six floors at the top of the building<ref name="p234921888" /> in late 1996.<ref name="p430693509">{{cite news |last=Rothstein |first=Mervyn |date=13 Nov 1996 |title=As Swiss Re prepares to head to Westchester, a big unit makes a commitment to Manhattan. |page=19 |work=The New York Times |issn=0362-4331 |id={{ProQuest|430693509}}}}</ref> The next year, the city government gave tax incentives to financial group [[ING Barings]] if the company agreed to lease space at Park Avenue Plaza and add jobs during that period.<ref>{{Cite news |last=Bagli |first=Charles V. |date=1997-04-07 |title=City Hall Deal Ties Subsidies To Job Growth |language=en-US |work=The New York Times |url=https://www.nytimes.com/1997/04/07/nyregion/city-hall-deal-ties-subsidies-to-job-growth.html |access-date=2022-07-09 |issn=0362-4331 |archive-date=December 26, 2017 |archive-url=https://web.archive.org/web/20171226171320/http://www.nytimes.com/1997/04/07/nyregion/city-hall-deal-ties-subsidies-to-job-growth.html |url-status=live }}</ref>
 ===2000s to present===
 [[File:Park Av May 2022 56.jpg|thumb|The 53rd Street elevation as seen from street level]]
-Insurance company [[Aon (company)|Aon]] relocated to Park Avenue Plaza in 2002 after the company's old headquarters were destroyed in the [[September 11 attacks]] the previous year.<ref>{{Cite news |last=Bagli |first=Charles V. |date=2002-05-23 |title=Fingers Crossed Downtown As Firms Consider Moving |language=en-US |work=The New York Times |url=https://www.nytimes.com/2002/05/23/nyregion/fingers-crossed-downtown-as-firms-consider-moving.html |access-date=2022-07-09 |issn=0362-4331}}</ref><ref name="p249853485">{{cite news |date=9 Sep 2002 |title=Aon Replaces N.Y. Offices It Lost 9/11 |page=17 |work=The American Banker |id={{ProQuest|249853485}}}}</ref> Aon moved its employees out of the building in 2006 but continued to [[sublease]] {{cvt|270000|ft2}} to other tenants.<ref name="p219158752">{{cite magazine |last=Satow |first=Julie |date=1 May 2006 |title=Aon heads back downtown |magazine=Crain's New York Business |volume=22 |issue=18 |page=2 |id={{ProQuest|219158752}}}}</ref> Another large tenant, [[ABN AMRO]], also moved out around this time.<ref name="p219173761">{{cite magazine |last=Satow |first=Julie |date=30 Oct 2006 |title=Cashing in on midtown |magazine=Crain's New York Business |volume=22 |issue=44 |page=2 |id={{ProQuest|219173761}}}}</ref> These firms subleased space to companies such as investment management firm [[BlackRock]], financial services company [[Evercore]], and alternative asset management firm [[Fairfield Greenwich Group]]. Additionally, [[Intercontinental Exchange]] had some space in the building.<ref name="trd-2019-03-13">{{Cite web |date=2019-03-13 |title=Park Avenue Plaza &#124; TRD Research |url=https://therealdeal.com/new-research/topics/property/park-avenue-plaza/ |access-date=2022-07-09 |website=TRD Research &#124; Published by The Real Deal}}</ref>
+Insurance company [[Aon (company)|Aon]] relocated to Park Avenue Plaza in 2002 after the company's old headquarters were destroyed in the [[September 11 attacks]] the previous year.<ref>{{Cite news |last=Bagli |first=Charles V. |date=2002-05-23 |title=Fingers Crossed Downtown As Firms Consider Moving |language=en-US |work=The New York Times |url=https://www.nytimes.com/2002/05/23/nyregion/fingers-crossed-downtown-as-firms-consider-moving.html |access-date=2022-07-09 |issn=0362-4331 |archive-date=May 27, 2015 |archive-url=https://web.archive.org/web/20150527213444/http://www.nytimes.com/2002/05/23/nyregion/fingers-crossed-downtown-as-firms-consider-moving.html |url-status=live }}</ref><ref name="p249853485">{{cite news |date=9 Sep 2002 |title=Aon Replaces N.Y. Offices It Lost 9/11 |page=17 |work=The American Banker |id={{ProQuest|249853485}}}}</ref> Aon moved its employees out of the building in 2006 but continued to [[sublease]] {{cvt|270000|ft2}} to other tenants.<ref name="p219158752">{{cite magazine |last=Satow |first=Julie |date=1 May 2006 |title=Aon heads back downtown |magazine=Crain's New York Business |volume=22 |issue=18 |page=2 |id={{ProQuest|219158752}}}}</ref> Another large tenant, [[ABN AMRO]], also moved out around this time.<ref name="p219173761">{{cite magazine |last=Satow |first=Julie |date=30 Oct 2006 |title=Cashing in on midtown |magazine=Crain's New York Business |volume=22 |issue=44 |page=2 |id={{ProQuest|219173761}}}}</ref> These firms subleased space to companies such as investment management firm [[BlackRock]], financial services company [[Evercore]], and alternative asset management firm [[Fairfield Greenwich Group]]. Additionally, [[Intercontinental Exchange]] had some space in the building.<ref name="trd-2019-03-13">{{Cite web |date=2019-03-13 |title=Park Avenue Plaza |url=https://therealdeal.com/new-research/topics/property/park-avenue-plaza/ |access-date=2022-07-09 |website=TRD Research &#124; Published by The Real Deal |archive-date=December 13, 2020 |archive-url=https://web.archive.org/web/20201213043621/https://therealdeal.com/new-research/topics/property/park-avenue-plaza/ |url-status=live }}</ref>
-The Boston-based [[Rockpoint Group]] bought a 49 percent ownership stake in July 2010 for $330 million.<ref name="trd-2010-10-19">{{Cite web |date=2010-10-19 |title=Fisher family sells stake at Park Avenue Plaza - The Real Deal |url=https://therealdeal.com/2010/10/19/fisher-family-sells-stake-at-park-avenue-plaza/ |access-date=2022-07-09 |website=The Real Deal New York |language=en-US}}</ref><ref>{{Cite news |last=Grant |first=Peter |last2=Wei |first2=Lingling |date=2010-10-19 |title=Fisher Family Readies Cash for Distress Deals |language=en-US |work=Wall Street Journal |url=https://www.wsj.com/articles/SB10001424052702304410504575560611474845020 |access-date=2022-07-09 |issn=0099-9660}}</ref> The next year, Rockpoint sold its stake for $569.1 million to Chinese investment firm [[SOHO China]],<ref name="trd-2011-10-27">{{Cite web |date=2011-10-27 |title=Park Avenue Plaza and second building sold for $569M - The Real Deal |url=https://therealdeal.com/2011/10/27/asian-investor-paid-569m-for-rockpoint-s-park-avenue-plaza-and-second-building-at-49-east-52nd-street/ |access-date=2022-07-09 |website=The Real Deal New York |language=en-US}}</ref> a firm controlled by Chinese real estate magnate [[Zhang Xin]].<ref name="Handley 2017">{{cite web |last=Handley |first=Lucy |date=August 11, 2017 |title=Zhang Xin: The woman who built Beijing |url=https://www.cnbc.com/2017/08/11/from-factory-worker-to-real-estate-billionaire-soho-chinas-zhang-xin.html |access-date=July 9, 2022 |website=CNBC}}</ref><ref>{{Cite news |last=Brown |first=Eliot |last2=Karmin |first2=Craig |date=2013-03-07 |title=China Group in Talks to Buy GM Building Stake |language=en-US |work=Wall Street Journal |url=http://online.wsj.com/article/SB10001424127887323628804578346422407021936.html |access-date=2022-07-09 |issn=0099-9660}}</ref> As a result of these sales, the building's valuation increased from $695 million to $1.19 billion in a single year.<ref name="wsj-2012-06-11">{{Cite news |last=Kusisto |first=Laura |date=2012-06-11 |title=Well-Timed Deals Mean Big Profits |language=en-US |work=Wall Street Journal |url=https://online.wsj.com/article/SB10001424052702303768104577458922131417642.html |access-date=2022-07-09 |issn=0099-9660}}</ref>  In the mid-2010s, Janson Goldstein redesigned the atrium, which was renovated in 2016 for $40 million.<ref name="Kim 2018">{{cite web |last=Kim |first=Betsy |date=July 9, 2018 |title=Evercore Expands HQs at Park Ave. Plaza to 350,000 SF |url=https://www.globest.com/2018/07/09/evercore-expands-hqs-at-park-ave-plaza-to-350000-sf/ |access-date=July 6, 2022 |website=GlobeSt}}</ref> The atrium continued to host events such as a design competition for Park Avenue.<ref>{{cite web |date=March 14, 2018 |title=Fisher Brothers shows off winning design for new-look Park Avenue |url=http://rew-online.com/2018/03/14/52453/ |publisher=Real Estate Weekly}}</ref><ref>{{Cite news |last=Barron |first=James |date=2018-02-25 |title=Minigolf and Aquariums Fill a Park Avenue Dreamscape |language=en-US |work=The New York Times |url=https://www.nytimes.com/2018/02/25/nyregion/park-avenue-medians-nyc-manhattan.html |access-date=2022-07-09 |issn=0362-4331}}</ref> Fisher Brothers received a $75 million mezzanine loan from [[New York Life]] in 2018.<ref name="REBusinessOnline 2018">{{cite web |date=September 10, 2018 |title=New York Life Provides $75M Mezzanine Loan for Office Tower in Manhattan |url=https://rebusinessonline.com/new-york-life-provides-75m-mezzanine-loan-for-office-tower-in-manhattan/ |access-date=July 6, 2022 |website=REBusinessOnline}}</ref><ref name="Cimpean 2018">{{cite web |last=Cimpean |first=Razvan |date=September 11, 2018 |title=Manhattan's Park Avenue Plaza Receives $75M Loan |url=https://www.commercialsearch.com/news/manhattan-park-avenue-plaza-receives-75m-loan/ |access-date=July 6, 2022 |website=Commercial Property Executive}}</ref> At the time, Swiss Re had indicated its intent to move out of the building,<ref>{{Cite web |date=2017-01-04 |title=Swiss Re takes 68K sf at Paramount’s 1301 Sixth |url=https://therealdeal.com/2017/01/04/swiss-re-takes-68k-sf-at-paramounts-1301-sixth/ |access-date=2022-07-06 |website=The Real Deal New York |language=en-US}}</ref> as did McKinsey.<ref name="Crain's New York Business 2018">{{cite web |last=Geiger |first=Daniel |date=June 20, 2018 |title=Financial firm re-ups on Park Avenue |url=https://www.crainsnewyork.com/article/20180620/REAL_ESTATE/180629993/financial-firm-re-ups-on-park-avenue |access-date=July 6, 2022 |website=Crain's New York Business}}</ref> BlackRock and Aon collectively leased nearly half of the building, but their leases expired in 2023.<ref name="trd-2021-11-16">{{Cite web |date=2021-11-16 |title=What Financial Titans Pay at Fisher Brothers' Park Avenue Plaza |url=https://therealdeal.com/2021/11/16/what-financial-titans-pay-at-fisher-brothers-park-avenue-plaza/ |access-date=2022-07-06 |website=The Real Deal New York |language=en-US}}</ref> Concurrently, several other companies expanded their space in the building, including Evercore<ref name="Kim 2018" /><ref name="Crain's New York Business 2018" /> and [[General Atlantic]].<ref name="Gourarie 2019">{{cite web |last=Gourarie |first=Chava |date=September 26, 2019 |title=General Atlantic Expands to 93K SF at Park Avenue Plaza |url=https://commercialobserver.com/2019/09/general-atlantic-expands-to-93k-sf-at-park-avenue-plaza/ |access-date=July 6, 2022 |website=Commercial Observer}}</ref><ref name="Real Estate Weekly 2019">{{cite web |date=September 24, 2019 |title=Fisher Brothers inks 93,000 s/f expansion deal at Park Avenue Plaza |url=https://rew-online.com/fisher-brothers-inks-93000-s-f-expansion-deal-at-park-avenue-plaza/ |access-date=July 6, 2022 |website=Real Estate Weekly}}</ref>
+The Boston-based [[Rockpoint Group]] bought a 49 percent ownership stake in July 2010 for $330 million.<ref name="trd-2010-10-19">{{Cite web |date=2010-10-19 |title=Fisher family sells stake at Park Avenue Plaza |url=https://therealdeal.com/2010/10/19/fisher-family-sells-stake-at-park-avenue-plaza/ |access-date=2022-07-09 |website=The Real Deal New York |language=en-US |archive-date=May 7, 2021 |archive-url=https://web.archive.org/web/20210507142408/https://therealdeal.com/2010/10/19/fisher-family-sells-stake-at-park-avenue-plaza/ |url-status=live }}</ref><ref>{{Cite news |last1=Grant |first1=Peter |last2=Wei |first2=Lingling |date=2010-10-19 |title=Fisher Family Readies Cash for Distress Deals |language=en-US |work=Wall Street Journal |url=https://www.wsj.com/articles/SB10001424052702304410504575560611474845020 |access-date=2022-07-09 |issn=0099-9660 |archive-date=May 3, 2019 |archive-url=https://web.archive.org/web/20190503101712/https://www.wsj.com/articles/SB10001424052702304410504575560611474845020 |url-status=live }}</ref> The next year, Rockpoint sold its stake for $569.1 million to Chinese investment firm [[SOHO China]],<ref name="trd-2011-10-27">{{Cite web |date=2011-10-27 |title=Park Avenue Plaza and second building sold for $569M |url=https://therealdeal.com/2011/10/27/asian-investor-paid-569m-for-rockpoint-s-park-avenue-plaza-and-second-building-at-49-east-52nd-street/ |access-date=2022-07-09 |website=The Real Deal New York |language=en-US |archive-date=March 2, 2021 |archive-url=https://web.archive.org/web/20210302211657/https://therealdeal.com/2011/10/27/asian-investor-paid-569m-for-rockpoint-s-park-avenue-plaza-and-second-building-at-49-east-52nd-street/ |url-status=live }}</ref> a firm controlled by Chinese real estate magnate [[Zhang Xin]].<ref name="Handley 2017">{{cite web |last=Handley |first=Lucy |date=August 11, 2017 |title=Zhang Xin: The woman who built Beijing |url=https://www.cnbc.com/2017/08/11/from-factory-worker-to-real-estate-billionaire-soho-chinas-zhang-xin.html |access-date=July 9, 2022 |website=CNBC |archive-date=June 28, 2022 |archive-url=https://web.archive.org/web/20220628232610/https://www.cnbc.com/2017/08/11/from-factory-worker-to-real-estate-billionaire-soho-chinas-zhang-xin.html |url-status=live }}</ref><ref>{{Cite news |last1=Brown |first1=Eliot |last2=Karmin |first2=Craig |date=2013-03-07 |title=China Group in Talks to Buy GM Building Stake |language=en-US |work=Wall Street Journal |url=http://online.wsj.com/article/SB10001424127887323628804578346422407021936.html |access-date=2022-07-09 |issn=0099-9660 |archive-date=June 2, 2013 |archive-url=https://web.archive.org/web/20130602070541/http://online.wsj.com/article/SB10001424127887323628804578346422407021936.html |url-status=live }}</ref> As a result of these sales, the building's valuation increased from $695 million to $1.19 billion in a single year.<ref name="wsj-2012-06-11">{{Cite news |last=Kusisto |first=Laura |date=2012-06-11 |title=Well-Timed Deals Mean Big Profits |language=en-US |work=Wall Street Journal |url=https://online.wsj.com/article/SB10001424052702303768104577458922131417642.html |access-date=2022-07-09 |issn=0099-9660 |archive-date=July 1, 2012 |archive-url=https://web.archive.org/web/20120701054031/http://online.wsj.com/article/SB10001424052702303768104577458922131417642.html |url-status=live }}</ref>  In the mid-2010s, Janson Goldstein redesigned the atrium, which was renovated in 2016 for $40 million.<ref name="Kim 2018">{{cite web |last=Kim |first=Betsy |date=July 9, 2018 |title=Evercore Expands HQs at Park Ave. Plaza to 350,000 SF |url=https://www.globest.com/2018/07/09/evercore-expands-hqs-at-park-ave-plaza-to-350000-sf/ |access-date=July 6, 2022 |website=GlobeSt |archive-date=July 6, 2022 |archive-url=https://web.archive.org/web/20220706233424/https://www.globest.com/2018/07/09/evercore-expands-hqs-at-park-ave-plaza-to-350000-sf/ |url-status=live }}</ref> The atrium continued to host events such as a design competition for Park Avenue.<ref>{{cite web |date=March 14, 2018 |title=Fisher Brothers shows off winning design for new-look Park Avenue |url=http://rew-online.com/2018/03/14/52453/ |publisher=Real Estate Weekly |access-date=June 29, 2018 |archive-date=June 30, 2018 |archive-url=https://web.archive.org/web/20180630001903/http://rew-online.com/2018/03/14/52453/ |url-status=dead }}</ref><ref>{{Cite news |last=Barron |first=James |date=2018-02-25 |title=Minigolf and Aquariums Fill a Park Avenue Dreamscape |language=en-US |work=The New York Times |url=https://www.nytimes.com/2018/02/25/nyregion/park-avenue-medians-nyc-manhattan.html |access-date=2022-07-09 |issn=0362-4331 |archive-date=November 9, 2020 |archive-url=https://web.archive.org/web/20201109035646/https://www.nytimes.com/2018/02/25/nyregion/park-avenue-medians-nyc-manhattan.html |url-status=live }}</ref> Fisher Brothers received a $75 million mezzanine loan from [[New York Life]] in 2018.<ref name="REBusinessOnline 2018">{{cite web |date=September 10, 2018 |title=New York Life Provides $75M Mezzanine Loan for Office Tower in Manhattan |url=https://rebusinessonline.com/new-york-life-provides-75m-mezzanine-loan-for-office-tower-in-manhattan/ |access-date=July 6, 2022 |website=REBusinessOnline |archive-date=August 15, 2020 |archive-url=https://web.archive.org/web/20200815140155/https://rebusinessonline.com/new-york-life-provides-75m-mezzanine-loan-for-office-tower-in-manhattan/ |url-status=live }}</ref><ref name="Cimpean 2018">{{cite web |last=Cimpean |first=Razvan |date=September 11, 2018 |title=Manhattan's Park Avenue Plaza Receives $75M Loan |url=https://www.commercialsearch.com/news/manhattan-park-avenue-plaza-receives-75m-loan/ |access-date=July 6, 2022 |website=Commercial Property Executive |archive-date=July 6, 2022 |archive-url=https://web.archive.org/web/20220706233424/https://www.commercialsearch.com/news/manhattan-park-avenue-plaza-receives-75m-loan/ |url-status=live }}</ref> At the time, Swiss Re had indicated its intent to move out of the building,<ref>{{Cite web |date=2017-01-04 |title=Swiss Re takes 68K sf at Paramount's 1301 Sixth |url=https://therealdeal.com/2017/01/04/swiss-re-takes-68k-sf-at-paramounts-1301-sixth/ |access-date=2022-07-06 |website=The Real Deal New York |language=en-US |archive-date=July 6, 2022 |archive-url=https://web.archive.org/web/20220706233509/https://therealdeal.com/2017/01/04/swiss-re-takes-68k-sf-at-paramounts-1301-sixth/ |url-status=live }}</ref> as did McKinsey.<ref name="Crain's New York Business 2018">{{cite web |last=Geiger |first=Daniel |date=June 20, 2018 |title=Financial firm re-ups on Park Avenue |url=https://www.crainsnewyork.com/article/20180620/REAL_ESTATE/180629993/financial-firm-re-ups-on-park-avenue |access-date=July 6, 2022 |website=Crain's New York Business |archive-date=July 6, 2022 |archive-url=https://web.archive.org/web/20220706233511/https://www.crainsnewyork.com/article/20180620/REAL_ESTATE/180629993/financial-firm-re-ups-on-park-avenue |url-status=live }}</ref> BlackRock and Aon collectively leased nearly half of the building, but their leases expired in 2023.<ref name="trd-2021-11-16">{{Cite web |last=Jones |first=Orion |date=2021-11-16 |title=What Financial Titans Pay at Fisher Brothers' Park Avenue Plaza |url=https://therealdeal.com/2021/11/16/what-financial-titans-pay-at-fisher-brothers-park-avenue-plaza/ |access-date=2022-07-06 |website=The Real Deal New York |language=en-US |archive-date=June 28, 2022 |archive-url=https://web.archive.org/web/20220628232634/https://therealdeal.com/2021/11/16/what-financial-titans-pay-at-fisher-brothers-park-avenue-plaza/ |url-status=live }}</ref> Concurrently, several other companies expanded their space in the building, including Evercore<ref name="Kim 2018" /><ref name="Crain's New York Business 2018" /> and [[General Atlantic]].<ref name="Gourarie 2019">{{cite web |last=Gourarie |first=Chava |date=September 26, 2019 |title=General Atlantic Expands to 93K SF at Park Avenue Plaza |url=https://commercialobserver.com/2019/09/general-atlantic-expands-to-93k-sf-at-park-avenue-plaza/ |access-date=July 6, 2022 |website=Commercial Observer |archive-date=July 6, 2022 |archive-url=https://web.archive.org/web/20220706233513/https://commercialobserver.com/2019/09/general-atlantic-expands-to-93k-sf-at-park-avenue-plaza/ |url-status=live }}</ref><ref name="Real Estate Weekly 2019">{{cite web |date=September 24, 2019 |title=Fisher Brothers inks 93,000 s/f expansion deal at Park Avenue Plaza |url=https://rew-online.com/fisher-brothers-inks-93000-s-f-expansion-deal-at-park-avenue-plaza/ |access-date=July 6, 2022 |website=Real Estate Weekly |archive-date=July 6, 2022 |archive-url=https://web.archive.org/web/20220706234928/https://rew-online.com/fisher-brothers-inks-93000-s-f-expansion-deal-at-park-avenue-plaza/ |url-status=live }}</ref>
-Fisher Brothers temporarily removed the atrium's seats during the [[COVID-19 pandemic in New York City|COVID-19 pandemic]]; the seating areas were restored by 2021.<ref name="p2551717154">{{cite magazine |last=Sachmechi |first=Natalie |date=12 Jul 2021 |title=Office Tenants Pushing for More Cushy Amenities |magazine=Crain's New York Business |volume=37 |issue=26 |page=5 |id={{ProQuest|2551717154}}}}</ref> [[Jennison Associates]] also leased space at the building in early 2021, with plans to move into the building after BlackRock moved out.<ref name="Rizzi 2021">{{cite web |last=Rizzi |first=Nicholas |date=March 8, 2021 |title=Asset Manager Jennison Associates Takes 121K SF at Park Avenue Plaza |url=https://commercialobserver.com/2021/03/asset-manager-jennison-associates-takes-121k-sf-at-park-avenue-plaza/ |access-date=July 6, 2022 |website=Commercial Observer}}</ref><ref name="Crain's New York Business 2021">{{cite web |date=March 8, 2021 |title=New York or nowhere: Jennison inks 15-year lease at Park Avenue Plaza |url=https://www.crainsnewyork.com/commercial-real-estate/new-york-or-nowhere-jennison-inks-15-year-lease-park-avenue-plaza |access-date=July 6, 2022 |website=Crain's New York Business}}</ref> Fisher Brothers refinanced Park Avenue Plaza in October 2021 with a $575 million [[Commercial mortgage-backed security|CMBS]] loan. The financing consisted of a $460 million interest-only loan from [[Morgan Stanley]] and a $115 million mezzanine loan,<ref name="Burke 2021">{{cite web |last=Burke |first=Mack |date=October 28, 2021 |title=Fisher Brothers Nabs $575M Refinance on Park Avenue Plaza in Midtown |url=https://commercialobserver.com/2021/10/fisher-brothers-park-avenue-plaza-55-east-52nd-street-morgan-stanley-blackrock-aon-cmbs/ |access-date=July 6, 2022 |website=Commercial Observer}}</ref> At the time, the building was 99 percent occupied with 11 tenants.<ref name="trd-2021-11-16" /> Morgan Stanley leased {{convert|400,000|ft2}} of BlackRock's space in January 2022.<ref name="Hallum 2022">{{cite web | last=Hallum | first=Mark | title=Morgan Stanley to Move into Park Avenue Plaza as BlackRock Relocates | website=Commercial Observer | date=January 5, 2022 | url=https://commercialobserver.com/2022/01/morgan-stanley-to-move-into-park-avenue-plaza-as-blackrock-relocates/ | access-date=July 6, 2022}}</ref><ref>{{Cite web|date=2022-01-04|title=Morgan Stanley Inks Lease at Fisher Brothers’ Park Avenue Plaza|url=https://therealdeal.com/2022/01/04/morgan-stanley-inks-massive-lease-in-fisher-brothers-park-avenue-plaza/|access-date=2022-07-06|website=The Real Deal New York|language=en-US}}</ref>
+Fisher Brothers temporarily removed the atrium's seats during the [[COVID-19 pandemic in New York City|COVID-19 pandemic]]; the seating areas were restored by 2021.<ref name="p2551717154">{{cite magazine |last=Sachmechi |first=Natalie |date=12 Jul 2021 |title=Office Tenants Pushing for More Cushy Amenities |magazine=Crain's New York Business |volume=37 |issue=26 |page=5 |id={{ProQuest|2551717154}}}}</ref> [[Jennison Associates]] also leased space at the building in early 2021, with plans to move into the building after BlackRock moved out.<ref name="Rizzi 2021">{{cite web |last=Rizzi |first=Nicholas |date=March 8, 2021 |title=Asset Manager Jennison Associates Takes 121K SF at Park Avenue Plaza |url=https://commercialobserver.com/2021/03/asset-manager-jennison-associates-takes-121k-sf-at-park-avenue-plaza/ |access-date=July 6, 2022 |website=Commercial Observer |archive-date=July 6, 2022 |archive-url=https://web.archive.org/web/20220706221554/https://commercialobserver.com/2021/03/asset-manager-jennison-associates-takes-121k-sf-at-park-avenue-plaza/ |url-status=live }}</ref><ref name="Crain's New York Business 2021">{{cite web |last=Sachmechi |first=Natalie |date=March 8, 2021 |title=New York or nowhere: Jennison inks 15-year lease at Park Avenue Plaza |url=https://www.crainsnewyork.com/commercial-real-estate/new-york-or-nowhere-jennison-inks-15-year-lease-park-avenue-plaza |access-date=July 6, 2022 |website=Crain's New York Business |archive-date=July 6, 2022 |archive-url=https://web.archive.org/web/20220706233513/https://www.crainsnewyork.com/commercial-real-estate/new-york-or-nowhere-jennison-inks-15-year-lease-park-avenue-plaza |url-status=live }}</ref> Fisher Brothers refinanced Park Avenue Plaza in October 2021 with a $575 million [[Commercial mortgage-backed security|CMBS]] loan. The financing consisted of a $460 million interest-only loan from [[Morgan Stanley]] and a $115 million mezzanine loan,<ref name="Burke 2021">{{cite web |last=Burke |first=Mack |date=October 28, 2021 |title=Fisher Brothers Nabs $575M Refinance on Park Avenue Plaza in Midtown |url=https://commercialobserver.com/2021/10/fisher-brothers-park-avenue-plaza-55-east-52nd-street-morgan-stanley-blackrock-aon-cmbs/ |access-date=July 6, 2022 |website=Commercial Observer |archive-date=July 6, 2022 |archive-url=https://web.archive.org/web/20220706221529/https://commercialobserver.com/2021/10/fisher-brothers-park-avenue-plaza-55-east-52nd-street-morgan-stanley-blackrock-aon-cmbs/ |url-status=live }}</ref> At the time, the building was 99 percent occupied with 11 tenants.<ref name="trd-2021-11-16" /> Morgan Stanley leased {{convert|400,000|ft2}} of BlackRock's space in January 2022,<ref name="Hallum 2022">{{cite web | last=Hallum | first=Mark | title=Morgan Stanley to Move into Park Avenue Plaza as BlackRock Relocates | website=Commercial Observer | date=January 5, 2022 | url=https://commercialobserver.com/2022/01/morgan-stanley-to-move-into-park-avenue-plaza-as-blackrock-relocates/ | access-date=July 6, 2022 | archive-date=January 8, 2022 | archive-url=https://web.archive.org/web/20220108174948/https://commercialobserver.com/2022/01/morgan-stanley-to-move-into-park-avenue-plaza-as-blackrock-relocates/ | url-status=live }}</ref><ref>{{Cite web|date=2022-01-04|title=Morgan Stanley Inks Lease at Fisher Brothers' Park Avenue Plaza|url=https://therealdeal.com/2022/01/04/morgan-stanley-inks-massive-lease-in-fisher-brothers-park-avenue-plaza/|access-date=2022-07-06|website=The Real Deal New York|language=en-US|archive-date=May 17, 2022|archive-url=https://web.archive.org/web/20220517081614/https://therealdeal.com/2022/01/04/morgan-stanley-inks-massive-lease-in-fisher-brothers-park-avenue-plaza/|url-status=live}}</ref> and Evercore expanded its space again in 2024.<ref>{{cite web | title=Evercore Inks 95K SF at Park Avenue Plaza | website=Connect CRE | date=January 24, 2024 | url=https://www.connectcre.com/stories/evercore-inks-95k-sf-at-park-avenue-plaza/ | access-date=August 2, 2024}}</ref><ref>{{cite web | last=Nehring | first=Abigail | title=Finance Firm Evercore Expands Park Avenue HQ by 95K SF | website=Commercial Observer | date=January 23, 2024 | url=https://commercialobserver.com/2024/01/evercore-lease-park-avenue-plaza/ | access-date=August 2, 2024}}</ref>
 ==Reception==
-The photographer [[Marvin E. Newman]] took photographs of Park Avenue Plaza while it was under construction. In an 1981 exhibit of Newman's photographs, the [[Municipal Art Society]] described the building as "leaping with tyrannical self-confidence out of the middle of the block".<ref>{{Cite news |date=1981-02-15 |title=Architecture View; Exploring Manhattan's Open Spaces |language=en-US |work=The New York Times |url=https://www.nytimes.com/1981/02/15/arts/architecture-view-exploring-manhattan-s-open-spaces.html |access-date=2022-07-08 |issn=0362-4331}}</ref> After the building opened, Paul Goldberger wrote in 1982 that the building "is an earnest, if tame, example of the genre of the abstract tower that we are seeing more and more of around the country".<ref name="nyt-1982-02-20" /> The ''[[AIA Guide to New York City]]'' described the building as "a bulky glass [[prism]]".<ref name="AIA">{{cite aia5|page=319}}</ref> Conversely, architectural critic [[Martin Filler]] thought the building's facade was "virtually identical to those SOM has been producing for over 30 years", saying the material drew attention to Lever House, which by comparison "seems pathetically shrunken" by Park Avenue Plaza's presence.<ref name="Stern (2006) p. 515" />
+The photographer [[Marvin E. Newman]] took photographs of Park Avenue Plaza while it was under construction. In a 1981 exhibit of Newman's photographs, the [[Municipal Art Society]] described the building as "leaping with tyrannical self-confidence out of the middle of the block".<ref>{{Cite news |date=1981-02-15 |title=Architecture View; Exploring Manhattan's Open Spaces |language=en-US |work=The New York Times |url=https://www.nytimes.com/1981/02/15/arts/architecture-view-exploring-manhattan-s-open-spaces.html |access-date=2022-07-08 |issn=0362-4331 |archive-date=June 29, 2021 |archive-url=https://web.archive.org/web/20210629114433/https://www.nytimes.com/1981/02/15/arts/architecture-view-exploring-manhattan-s-open-spaces.html |url-status=live }}</ref> After the building opened, Paul Goldberger wrote in 1982 that the building "is an earnest, if tame, example of the genre of the abstract tower that we are seeing more and more of around the country".<ref name="nyt-1982-02-20" /> The ''[[AIA Guide to New York City]]'' described the building as "a bulky glass [[Prism (optics)|prism]]".<ref name="AIA">{{cite aia5|page=319}}</ref> Conversely, architectural critic [[Martin Filler]] thought the building's facade was "virtually identical to those SOM has been producing for over 30 years", saying the material drew attention to Lever House, which by comparison "seems pathetically shrunken" by Park Avenue Plaza's presence.<ref name="Stern (2006) p. 515" />
-Goldberger characterized the atrium in 1982 as "too small and tight in its feeling to be the enclosed public square that it aspires to be, but it is a lot more grandiose than the average lobby".<ref name="nyt-1982-02-20" /> Goldberger changed his stance several years later, saying: "Years of use have mellowed this space, and it has turned into one of the most viable indoor plazas we have."<ref>{{Cite news |last=Goldberger |first=Paul |date=1987-11-22 |title=Architecture View; Plazas, Like Computers, Are Best if User-friendly |language=en-US |work=The New York Times |url=https://www.nytimes.com/1987/11/22/arts/architecture-view-plazas-like-computers-are-best-if-user-friendly.html |access-date=2022-07-09 |issn=0362-4331}}</ref> Richard F. Shepard wrote for ''The New York Times'' in 1989 that the atrium had a "warmth that almost contradicts its wall-size waterfall and its manicured interior architecture".<ref name="nyt-1989-12-22" /> Jerold Kayden described the atrium as "an elegant, two-story glass-enclosed space".<ref name="Kayden" /> According to Kayden, the space had all the elements of a successful public space because of its chairs and tables, eateries, waterfall, presence of maintenance staff, and "sense of security".<ref name="p190078476">{{Cite news |date=Dec 29, 2000 |title=Profile: Privately Owned Public Spaces in New York City |page=1 |work=All Things Considered |publisher=NPR |id={{proQuest|190078476}}}}</ref>
+Goldberger characterized the atrium in 1982 as "too small and tight in its feeling to be the enclosed public square that it aspires to be, but it is a lot more grandiose than the average lobby".<ref name="nyt-1982-02-20" /> Goldberger changed his stance several years later, saying: "Years of use have mellowed this space, and it has turned into one of the most viable indoor plazas we have."<ref>{{Cite news |last=Goldberger |first=Paul |date=1987-11-22 |title=Architecture View; Plazas, Like Computers, Are Best if User-friendly |language=en-US |work=The New York Times |url=https://www.nytimes.com/1987/11/22/arts/architecture-view-plazas-like-computers-are-best-if-user-friendly.html |access-date=2022-07-09 |issn=0362-4331 |archive-date=November 2, 2017 |archive-url=https://web.archive.org/web/20171102164229/http://www.nytimes.com/1987/11/22/arts/architecture-view-plazas-like-computers-are-best-if-user-friendly.html |url-status=live }}</ref> Richard F. Shepard wrote for ''The New York Times'' in 1989 that the atrium had a "warmth that almost contradicts its wall-size waterfall and its manicured interior architecture".<ref name="nyt-1989-12-22" /> Jerold Kayden described the atrium as "an elegant, two-story glass-enclosed space".<ref name="Kayden" /> According to Kayden, the space had all the elements of a successful public space because of its chairs and tables, eateries, waterfall, presence of maintenance staff, and "sense of security".<ref name="p190078476">{{Cite news |date=Dec 29, 2000 |title=Profile: Privately Owned Public Spaces in New York City |page=1 |work=All Things Considered |publisher=NPR |id={{proQuest|190078476}}}}</ref>
 ==References==
@@ Line 87: / Line 88: @@
 ===Sources===
+* {{cite book | title=Architecture of Skidmore, Owings & Merrill, 1973-1983 | publisher=Monacelli Press | publication-place=New York | date=2009 | isbn=978-1-58093-222-6 | oclc=299708723 | ref={{harvid|Monacelli Press|2009}}}}
 * {{Cite New York 2000}}
+{{portalbar|Architecture|New York City}}
 {{Midtown North, Manhattan}}
 {{Park Avenue}}