Shorenstein, an owner and operator of office, residential and mixed-use properties across the United States, has leased a full floor at Park 53, a newly repositioned boutique office building in Midtown Manhattan owned by ZG Capital Partners and Rialto Capital Management.
Shorenstein will relocate from 850 Third Ave. to occupy the 5,560-square-foot pre-built office spanning the entire 16th floor under a seven-year lease. JLL’s Agency Leasing team representing ownership includes Mitch Konsker, Ben Bass, Alex Chudnoff, Greg Wang and Thomas Swartz. Shorenstein was represented by Sacha Zarba, Kyle Zarba and Claire Pisano of CBRE.
The transaction reflects the continued flight-to-quality trend among office tenants seeking elevated, private and amenitized work environments. The full-floor lease provides Shorenstein with enhanced privacy and an exclusive presence within the building.
“We set out to create a best-in-class boutique workplace that appeals to sophisticated, high-quality organizations,” said Bobby Zar of ZG Capital. “Welcoming a firm like Shorenstein validates that strategy and reinforces Park 53’s position as a premier Midtown address.”
Formerly Santander Bank’s U.S. headquarters, Park 53 is a 140,000-square-foot office property located at 45 East 53rd St. in the Plaza District. It was acquired by ZG Capital and Rialto Capital in 2022 and has undergone a comprehensive repositioning that has transformed the asset into a desirable boutique office destination featuring column-free floor plates, floor-to-ceiling glass windows, lofty slab heights, enhanced infrastructure and a full floor of curated tenant amenities.
An amenities campaign led by MdeAS Architects and Vocon created a modern double-height lobby featuring expansive glass windows and marble flooring, as well as recessed lighting strips to build warmth. The ground and cellar floors were reconfigured to accommodate restaurant and retail space, and the amenities package centers around The Park Club, a private lounge with a full-service bar, library, boardroom with an adjoining dining room and outdoor terrace.
“Park 53 continues to resonate with tenants prioritizing quality, efficiency and experience in their workplace,” said Konsker, vice chairman at JLL. “The property offers boutique scale, thoughtfully designed prebuilt spaces and best-in-class amenities. Shorenstein’s commitment to Park 53 further validates the strength of the repositioning and the broader flight-to-quality movement we’re seeing across Midtown.”
