44 + Mad
New York, NY, US, Americas
25.151 m²
Beschreibung
JLL has been retained on an exclusive basis to arrange for the sale of 554-568 Eighth Avenue (the “Property”), a rare, 21-story, corner office building delivered 100% vacant in Midtown Manhattan. Configured as 309,703 rentable square feet with 232’ of wraparound corner frontage (99’ on Eighth Avenue & 133’ on West 38th Street), the Property is a blank slate providing investors with multiple ways to create value. While current zoning allows for immediate, as-of-right, mixed-use positioning for office, retail, community facility or an end user, the expected Midtown South Mixed-Use Plan (MSMX) rezoning would allow for residential conversion enhanced by the favorable 467-m tax abatement.
...
Eigenschaften
Mietfläche
28.772 m²
Anzahl der Etagen
21
Medien
Investment-Highlights
-Rare, 21-story, 100% Vacant, Corner Office Building
-Primed for Multiple Business Plans in Center of Midtown South Mixed-Use Plan (“MSMX”) Rezoning
-Ideal for Class B Office / Residential Conversion / End-Users
-Substantial Scale: 310K Rentable SF (281K Office RSF / 28.5K Retail RSF)
-232’ of Wraparound Corner Frontage with Multiple Setbacks / Terraces
-Excellent Base Building Condition with Substantial Recent CapEx Invested (~$15M)
-Generous, ~11’ Average Slab-to-Slab Office Floor Ceiling Heights (Retail 19’ Ceiling Heights)
-Tremendous Corner Light & Air Ideal for Office or Residential Use
-Unrivaled Transit-Oriented Location (Port Authority / Penn Station / Entrance to 12 Subway Lines Within a 3-Min Walk)
-Political & Public Support for Midtown South Transformation: Several new citywide & neighborhood based programs (City of Yes, the 467-m / 485x tax abatements & the expected MSMX rezoning) will reshape Midtown South - all of which have overwhelming political & public support
-NYCs Next Neighborhood Evolution - A Very Different Future: Located centrally between Hudson Yards (upcoming $12B phase II project), Port Authority (>$10B / 2.1M SF terminal replacement begins 2025), Penn District ($7B Penn Station redevelopment / up to 15M SF of potential Penn District development in planning phase), Manhattan West, Times Square, Herald Square & Chelsea
Makler kontaktieren
554-568 Eighth Avenue (0 Objekte)
JLL kann Sie bei der Finanzierung und Verwaltung Ihres Portfolios unterstützen. Kontaktieren Sie uns noch heute, damit wir gemeinsam Ihre Ambitionen verwirklichen können.
Zuletzt aktualisiert
28. Mai 2025
