Global Holdings Invests $30 Million to Modernize 99 Park Avenue Office Tower

Global Holdings is undertaking a $30 million renovation of the 99 Park Avenue office tower in Midtown Manhattan. The project aims to modernize the building, originally constructed in the 1950s, by introducing a redesigned lobby and a suite of amenities designed to enhance tenant experience.

The planned upgrades include a speakeasy, an entertainment lounge, a bowling alley, and a golf simulator, with completion targeted for early 2026. Craig Panzirer, Senior Vice President at Global Holdings, noted that these enhancements are already attracting and retaining leading companies seeking modern, collaborative office environments.

Metropolitan Commercial Bank has recently renewed and expanded its lease to nearly 82,000 square feet within the tower. Approximately 180,000 square feet of office space remains available, offering prospective tenants a revitalized workspace in a prime location.

Paul Glickman of JLL emphasized that Global Holdings is leveraging its hospitality expertise to create an environment that boosts operational efficiency and employee engagement for its tenants. This investment reflects a broader trend of upgrading office spaces to meet evolving tenant expectations in New York City’s competitive real estate market.