JLL, as exclusive agent, is pleased to offer for sale two commercial condominium units on the full third and fourth floors of 520 West 49th Street (the “Property”). The entire four-story building received a top-to-bottom renovation in 2005 and is in excellent condition with fully modernized building systems. The current owner of the building, American Red Cross (“ARC”), will continue to own and occupy the first, second, and basement floors, freeing up the remaining third and fourth floors for sale to third parties. The condominium units will be delivered vacant and are ready for immediate occupancy by a tenant or user.
Currently finished and furnished in a mostly open layout, each floor features sixteen-foot ceilings, 29,000 square foot floorplates, and industrial-grade elevators and floor loads which make the space ideal for a wide variety of uses, including creative office, showroom, medical, financial, education, and not-for-profit facilities. This rare offering provides an outstanding value proposition versus office condominium product in Midtown and Midtown South, with a notable lack of for-purchase alternatives in the 25,000 square foot range.