597 Fifth Ave

Jones Lang LaSalle (“JLL”) has been exclusively retained to offer for sale 597 Fifth Avenue and 3 East 48th Street (the “Property,” or the “Offering”). Situated on two adjacent lots, the Property occupies a prime location along world-renowned Fifth Avenue, one of the most prestigious retail and office corridors in Manhattan.

597 Fifth Avenue, a New York City landmark better known as The Scribner Building, is a 13-story, 69,279 rsf boutique retail and office property situated on Fifth Avenue between 48th and 49th Streets. Club Monaco currently occupies 100% of the retail, while the office premises is fully vacant, providing investors the ability to immediately take advantage of robust Midtown office leasing fundamentals. The Property also offers 27,388 sf of transferable development rights that may be allocated to 3 East 48th Street or sold off to a third-party investor or developer.

3 East 48th Street is located immediately to the east of 597 Fifth, with frontage on 48th Street between Fifth and Madison Avenues. Unencumbered by in-place tenancy, the six story, 13,698 rsf building can be immediately repositioned for office use, re-imagined as a residential conversion, or redeveloped to take advantage of existing, unused FAR on the site, with an ability to maximize density through an air right transfer from 597 Fifth.