St. Marks Place, New York, NY, 10003-7849, US

1 St. Marks Place

Attributes

Land area gross

6,921 sf

Building area gross

60,810 sf

Floors

Year built

2024

Building class

Asset description

Jones Lang LaSalle (“JLL”) has been retained on an exclusive basis to arrange for the leasehold position at One St. Marks (“The Property”), a brand new, state-of- the-art, mixed-use commercial office building located at the crossroads of the East Village and Noho neighborhoods of Manhattan. Situated on the northeast corner of St. Marks Place and Third Avenue, directly across from The Cooper Union, the 56,790 rentable square foot building sits on one of the most iconic corners in Manhattan. The Property at One St. Marks represents an ideal opportunity for a unique, single-user headquarters, or for an investor to lease out single or multiple floors and take advantage of the new construction premium rents being achieved by similar assets.

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Investment highlights

New Ground-up Development

One St. Marks is a 56,970 rentable square foot, ground-up office development where biophilic design and a connection to the surrounding neighborhood are at the core, making work-life balance effortless. It is outfitted with boutique style floorplates, high-end finishes, and state of-the-art amenities for modern office users.

State of the Art Amenity Package

Office tenants will have access to state-of-the-art amenity package, inclusive of a fitness center with locker rooms, meeting spaces, and a bike room. In addition, the offices are outfitted with high-end, residential style kitchens and bathrooms.

Incredible Light & Air

One St. Marks’ corner lot positioning offers incredible views to the West, East, and South from multiple vantage points. The newly developed building features outdoor amenity space across three (3) cascading terraces for indoor/outdoor workspaces. Furthermore, each office floor contains floor to ceiling glass windows, allowing for ample light & air to flood the space.

Favorable Ground Lease

There are 91 years remaining on the 99 year-ground lease with a rent basis of $28/SF annually ($1,590,555 annual rent). Please refer to the ground lease abstract on page 21 for more information.

Excellent Connectivity

The Property is conveniently located at the doorstep of the famous Astor Place Station which provides easy access to the 6 train. There are multiple other subway stations within a 5-minute walk which service the N, Q, R, W, L, B, D, F, and M trains, which enable connectivity to all other parts of the city.

Prime Location

One St. Marks is located at the crossroads of NoHo and the East Village, two of the most dynamic neighborhoods in downtown Manhattan. The Property benefits from the area’s expanding uses and populations that will continue to drive demand and rental rate growth.