fifth avenue - masseyknakal.com · located on fifth avenue between west 37th and west 38th ... q n...
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FIFTH AVENUE THE 72,012 RSF OFFICE CONDOMINIUM SITUATED ON FLOORS 14-17
FLOORS CAN BE SOLD INDIVIDUALLY | 18,003 RSF EACH
420
FIFTHAVENUE
F U L L F L O O R O F F I C E C O N D O S
420As exclusive agents, we are pleased to offer for sale:
14TH FLOOR 18,003 RSF15TH FLOOR 18,003 RSF 16TH FLOOR 18,003 RSF17TH FLOOR 18,003 RSF
UNIT FEATURESCushman & Wakefield and Avison Young have been exclusively retained to sell the condominium ownership interest in floors fourteen (14) through seventeen (17) at 420 Fifth Avenue. The Class A office condominium is located on Fifth Avenue between West 37th and West 38th Streets within one of the most highly desired submarkets in Manhattan, just south of Bryant Park. The four contiguous floors contain approximately 72,012 rentable square feet of office space, consisting of 18,003 rentable square feet each, and will be delivered vacant. The floors may be sold together, individually or even subdivided up to three units per floor.
• Delivered Vacant and broom clean condition
• Virtually column free floor plates (3 columns per floor)
• Full-floor presence. All floors clear immediate surrounding buildings. Views are protected due to landmark status and zoning limitations of adjacent properties.
• 13’ Ceilings slab-to-slab
• Full height windows on all four sides - Excellent light and views
• Flexible open layouts perfect for a wide range of owner oc-cupiers/tenants, including legal, consulting, Not-For-Prof-its, TAMI (technology, advertising, media and information) and FIRE (financial services, insurance and real estate)
TOTAL - 72,012 RSF
INVESTMENT SUMMARY
ASKING PRICES
14th Floor 18,003 RSF $21,250,000 $1,180/RSF
15th Floor 18,003 RSF $21,500,000 $1,194/RSF
16th Floor 18,003 RSF $21,750,000 $1,208/RSF
17th Floor 18,003 RSF $22,000,000 $1,222/RSF
Package Totals 72,012 RSF $86,500,000 $1,200/RSF
• World class location on the upper floors (14-17) of a mid-town Manhattan high-rise Class A office building on Fifth Avenue
• High security, 3-story clear atrium lobby, and large plaza entry
• Close proximity to Grand Central Terminal, Penn Station, The Port Authority Bus Terminal, PATH trains and twelve subway lines
• Two blocks from Bryant Park, Herald Square, The New York Public Library, Macy’s, the Empire State Building and Lord & Taylor’s Flagship retail store which was just sold to WeWork to become their Headquarters.
BUILDING HIGHLIGHTS
Location The entire westerly block front of Fifth Avenue between West 37th and West 38th Streets
Unit 14th Floor 15th Floor 16th Floor 17th Floor Package Totals
Block / Lot 839 / 1048 839 / 1049 839 / 1050 839 / 1051
Rentable SF 18,003 18,003 18,003 18,003 72,012
Common Interest 2.9844% 2.9844% 2.9844% 2.9844% 11.9376%
R/E Taxes (18/19)* Per Year $320,435 $320,435 $320,435 $320,435 $1,281,740Per RSF $17.80 $17.80 $17.80 $17.80 $17.80
Common Area Charges Per Year $210,694 $210,694 $210,694 $210,694 $842,775Per Month $17,558 $17,558 $17,558 $17,558 $70,231Per RSF $11.70 $11.70 $11.70 $11.70 $11.70
Association Fee Per Year $10,500 $10,500 $10,500 $10,500 $42,002Per Month $875 $875 $875 $875 $3,500Per RSF $0.58 $0.58 $0.58 $0.58 $0.58
Total Carry Costs Per Year $541,629 $541,629 $541,629 $541,629 $2,166,517Per Month $45,136 $45,136 $45,136 $45,136 $180,543Per RSF $30.09 $30.09 $30.09 $30.09 $30.09
Asking Prices $21,250,000 $21,500,000 $21,750,000 $22,000,000 $86,500,000Per RSF $1,180 $1,194 $1,208 $1,222 $1,200
420 FIFTH AVENUE NEW YORK, NYOFFICE CONDOMINIUM FLOORS 14 - 17
PROPERTY INFORMATION
* Ownership is in the process of challenging the taxes with their professional Tax Certiorari. Their expectations are the taxes are going to stabilize between $14-$15 per SF
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420FIFTH AVE
GRAND CENTRAL TERMINAL
PORT AUTHORITYBUS TERMINAL
PENN STATION
5
4
• Conveniently positioned between Grand Central Terminal, Port Authority and Penn Station
• Midtown South feel with Class A Bryant Park efficiency and location
• Directly next to the Lord & Taylor building which will be home to the new flagship WeWork headquarters
IN THE HEART OF
MIDTOWN’S COMMUTER
TRIANGLE
BUILDING FEATURES
FOR MORE INFORMATION, PLEASE CONTACT:
Cushman & Wakefield Copyright 2016. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
JAMES NELSONPrincipal212 729 [email protected]
HENRY POSTAssociate 212 230 [email protected]
CUSHMAN & WAKEFIELD1290 Avenue of the AmericasNew York, NY 10104cushmanwakefield.com
JOHN CIRAULOVice Chairman212 660 [email protected]
CRAIG WAGGNERDirector212 660 [email protected]
DOUGLAS BLANKROTSenior Associate212 589 [email protected]
AVISON YOUNG1166 Avenue of the AmericasNew York, NY 10036avisonyoung.com
LOCATION...LOCATION...LOCATION
IN THE HEART OF MIDTOWN
WEST
• An ideal Midtown location near Bryant Park, between Times Square and Grand Central Terminal.
• Sitting at the crossroads of commerce and tourism, this area offers professionals a vibrant work environment, replete with restaurants, retail, convenient public transportation, and after-work entertainment. Bryant Park, one of New York’s most beloved open spaces, is just a few blocks away, as is Fifth Avenue’s exclusive retail corridor, and the Theater District.
• This location provides close proximity to twelve subway lines and the three primary railroads servicing Westchester/Fairfield Counties, Long Island, and New Jersey including the and trains along with the 42nd Street Shuttle, MetroNorth, Long Island Railroad and Path trains.
CORE AND SHELL FLOOR PLAN
FIFTHAVENUE
420
JAMES NELSONPrincipal
212 729 [email protected]
HENRY POSTAssociate
212 230 [email protected]
JOHN CIRAULOVice Chairman212 660 7700
CRAIG WAGGNERDirector
212 660 [email protected]
DOUGLAS BLANKROTSenior Associate
212 589 [email protected]