CVS takes 10,500 sf at TF Cornerstone’s 387 Park Avenue South

TF Cornerstone’s 387 Park Avenue South L.L.C. as owner signed an agreement with CVS through its CVS Albany L.L.C. for 1 parcel, including the tax class office bank building designed exclusively for banking (O6) at 387 Park Avenue South in Flatiron. The deal closed on February 27, 2019 and was recorded on August 28, 2019.
The property contains a total of 183,913 square feet of built space. The lease is for 10,500 square feet.
The last time the property sold was September 30, 2005, for $67,974,000.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on February 12, 2015.
Over the past five years, there have been 61 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 4 major renovation applications including a certificate of occupancy change (A1) filed with a total estimated value of $153,300. There were 57 renovation/alteration projects (A2) applied for with a total estimated value of $22,940,930.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link
A recent story on the property. link.