Cadent is taking a hefty slice of 2 Park Avenue, signing a lease for more than 50,000 square feet at the Midtown South tower and stepping in as one of its major tenants. The deal lands at a moment when landlords across Manhattan are seeing renewed interest from mid-sized and tech firms that are back out hunting for downtown-style growth. It is also a timely score for the building’s owner, which only recently took the property over.
According to Crain's New York Business, Cadent inked the more-than-50,000-square-foot lease at the tower sitting at Park Avenue and East 32nd Street. The outlet identified Cadent as the tenant and outlined the general size of the block it is taking.
New Owner Tries A 2 Park Reset
Haddad Brands bought the building from Morgan Stanley in late 2024 and has been re-marketing full and partial floors to larger tenants. Commercial Observer reported the roughly $360 million purchase and noted that Haddad planned to move into part of the property itself while leasing out the balance.
A Closer Look At 2 Park Avenue
The property is an office tower of roughly 1.18 million square feet, with typical floor plates in the low 30,000-square-foot range and retail space at street level, according to property listings. LoopNet lists the tower’s size and outlines its available suites.
Why This Deal Matters For The Market
CBRE's Q1 2026 office report points to rising net absorption this year along with a tightening of prime vacancy in Midtown, conditions that have helped landlords revisit how they are pricing space. Brokers and market trackers, as summarized by JLL/NYREJ, say that demand from AI and broader tech tenants has been a major driver of early 2026 leasing activity.
What Cadent Is Paying
Market data pegs the Cadent block at about 50,017 square feet, with asking pricing near $85 per square foot. Transaction details were reported by Traded in late 2025. That level suggests owners can still command above-market rents for large, contiguous mid-sized floors in well-located Midtown South assets.
Cadent’s lease gives Haddad Brands an early boost to the rent roll as it works to turn its relatively new ownership into steady income, and it highlights how specific pockets of Manhattan are shifting toward more landlord leverage. If more mid-level deals of this scale land in Midtown South, tenants combing the neighborhood for space could find their options tightening.
