The developer is asking up to $175 per square foot for space at the new development.
Editor’s Note: An earlier version of this article and the headline incorrectly stated that some office tenants will have access to the high-end amenities that are being constructed for residents at the adjacent condo at 432 Park Ave.
The tallest residential tower in the Western Hemisphere, 432 Park Ave., has attracted some of the world’s richest condo buyers. Now the project’s developer, Harry Macklowe, is planning to bring deep-pocketed office tenants to the ultraluxury project.
Attached to the 1,400-foot-tall pencil-thin tower will be a six-story, 71,000-square-footoffice building facing East 57th Street. The cube-like structure will go by the same 432 Park Ave. address as the residential tower, which it abuts.
Asking rents at the luxury commercial building will be among the highest in the city—starting at $150 per square foot and running as high as $175 per square foot for its top floor, which will feature a 1,600-square-foot glass penthouse that connects to a 5,000-square-foot outdoor roof deck.
“The object was to bring everything together, to subtly unite all [the building’s] elements,” Mr. Macklowe said. “You feel quality, substance and strength.”
“The tenants who choose to locate their offices at 432 Park will likely be high-end financial companies, well-heeled family offices and luxury brands,” said Paul Amrich, a broker at CBRE Group who was hired by Mr. Macklowe to lease the office space.
Mr. Macklowe developed the residential tower at 432 Park Ave. in partnership with Los Angeles-based real estate investment firm CIM, but he owns the office and retail components of the project alone. In addition to the office space, 432 Park Ave. will have 58,500 square feet of retail. The retail will be located in the 127 feet of ground-floor frontage along East 57th Street, one of the city’s most luxurious shopping corridors. One block away, Mr. Macklowe is also constructing a dedicated glass retail box, with below-grade retail space, on the corner of East 56th Street and Park Avenue.
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