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226 Fifth Ave
New York, NY 10001
Office Property For Sale


Investment Highlights
- Well Leased, Mixed Use Asset with Owner User Flexibility
- Top Performing Retail Submarket
- Immediate Vacancy Upside
- Near Term Retail Owner User Opportunity
- Office recovery is supporting retail
- Prime Flatiron/NoMad Location
Executive Summary
Cushman & Wakefield (“C&W”) is pleased to present the exclusive opportunity to acquire a 100% fee simple interest in 226 Fifth Avenue (the “Property”), a six-story plus cellar, mixed use commercial building located in the heart of Manhattan’s dynamic NoMad neighborhood. Positioned along the highly trafficked lower Fifth Avenue corridor between 26th and 27th Street, the building offers a rare owner-user investment opportunity in one of New York City’s most sought-after and rapidly evolving submarkets.
The Property comprises 13,300 rentable square feet with 22.5 feet of prime Fifth Avenue frontage. The ground floor and lower level (5,000 total RSF) are leased to Rëzo Salon and feature an extravagant, high-quality buildout. With the existing lease expiring in November 2026, the space can potentially be delivered vacant, creating an exceptional opportunity for an owner-user seeking a prominent retail, showroom, or experiential space on Fifth Avenue.
The five upper floors consist of full-floor commercial spaces, leased to a diverse mix of professional, wellness, and service-oriented tenants, including a real estate office, facial
therapy, and spa users. The boutique scale, full-floor layouts, and direct elevator access provide an attractive configuration for a broad range of office and creative users. NoMad has also emerged as a preferred destination for technology and AI companies seeking high quality, boutique office space in highly amenitized, transit-rich locations.
226 Fifth Avenue offers exceptional connectivity, with the and subway lines all within a 1-2-minute walk. The Property also benefits from convenient access to PATH,
Penn Station, and regional commuter rail, providing connectivity throughout New Jersey, Long Island, and the broader Northeast corridor. This unparalleled transportation access enhances the Property’s appeal to both employers seeking to attract top talent and businesses requiring convenient access for clients and employees.
The Property is strategically located at the convergence of NoMad, Flatiron, Union Square, Chelsea, and Madison Square Park, surrounded by some of Manhattan’s most established office, retail, hospitality, and residential destinations. As Midtown South and NoMad continue to outperform many competing office submarkets in leasing activity and post-pandemic recovery, 226 Fifth Avenue is well positioned to benefit from continued demand, rental growth, and long-term capital appreciation.
The offering represents a compelling opportunity to acquire a boutique commercial asset with immediate income and meaningful future upside. With the potential to reposition the ground and lower levels upon lease expiration, continued demand for boutique office space, and the transformative impact of New York City’s recently enacted City of Yes zoning reforms and the Midtown South Mixed-Use (“MSMX”) rezoning, the Property offers investors and owner-users a unique opportunity to participate in the continued evolution of one of Manhattan’s most dynamic neighborhoods.
The Property comprises 13,300 rentable square feet with 22.5 feet of prime Fifth Avenue frontage. The ground floor and lower level (5,000 total RSF) are leased to Rëzo Salon and feature an extravagant, high-quality buildout. With the existing lease expiring in November 2026, the space can potentially be delivered vacant, creating an exceptional opportunity for an owner-user seeking a prominent retail, showroom, or experiential space on Fifth Avenue.
The five upper floors consist of full-floor commercial spaces, leased to a diverse mix of professional, wellness, and service-oriented tenants, including a real estate office, facial
therapy, and spa users. The boutique scale, full-floor layouts, and direct elevator access provide an attractive configuration for a broad range of office and creative users. NoMad has also emerged as a preferred destination for technology and AI companies seeking high quality, boutique office space in highly amenitized, transit-rich locations.
226 Fifth Avenue offers exceptional connectivity, with the and subway lines all within a 1-2-minute walk. The Property also benefits from convenient access to PATH,
Penn Station, and regional commuter rail, providing connectivity throughout New Jersey, Long Island, and the broader Northeast corridor. This unparalleled transportation access enhances the Property’s appeal to both employers seeking to attract top talent and businesses requiring convenient access for clients and employees.
The Property is strategically located at the convergence of NoMad, Flatiron, Union Square, Chelsea, and Madison Square Park, surrounded by some of Manhattan’s most established office, retail, hospitality, and residential destinations. As Midtown South and NoMad continue to outperform many competing office submarkets in leasing activity and post-pandemic recovery, 226 Fifth Avenue is well positioned to benefit from continued demand, rental growth, and long-term capital appreciation.
The offering represents a compelling opportunity to acquire a boutique commercial asset with immediate income and meaningful future upside. With the potential to reposition the ground and lower levels upon lease expiration, continued demand for boutique office space, and the transformative impact of New York City’s recently enacted City of Yes zoning reforms and the Midtown South Mixed-Use (“MSMX”) rezoning, the Property offers investors and owner-users a unique opportunity to participate in the continued evolution of one of Manhattan’s most dynamic neighborhoods.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Building Size
13,300 SF
Building Class
C
Year Built
1930
Price
$10,000,000
Price Per SF
$751.88
Percent Leased
87%
Tenancy
Multiple
Building Height
6 Stories
Typical Floor Size
2,000 SF
Slab To Slab
12’
Building FAR
6.11
Lot Size
0.05 AC
Zoning
C5-2 - Central commercial district with continuous retail frontage intended for offices and retail establishments that serve the entire metropolitan region.
Amenities
- Bus Line
Property Taxes
| Parcel Number | 0828-0040 | Improvements Assessment | $996,660 |
| Land Assessment | $495,000 | Total Assessment | $1,491,660 |
Property Taxes
Parcel Number
0828-0040
Land Assessment
$495,000
Improvements Assessment
$996,660
Total Assessment
$1,491,660
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