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554-568 Eighth Ave 330,000 SF 92% Leased Office Building New York, NY 10018 $85,000,000 ($257.58/SF)
Investment Highlights
- 100% Vacant, 21-Story, Corner Office Building
- Substantial Scale: 310K Rentable SF (281K Office RSF / 28.5K Retail RSF) - 232’ of Wraparound Corner Frontage with Multiple Setbacks / Terraces
- New Retail Boxes with Plans for 5 Units Across Ground Floor, 2nd Floor & Lower Level
- Ideal for Class B Office / End Users in Center of Midtown South Mixed-Use Plan (“MSMX”) Rezoning
- Excellent Base Building Condition with Substantial Recent CapEx Invested (~$15M)
- Unrivaled Transit-Oriented Location (Port Authority / Penn Station / Entrance to 12 Subway Lines Within a 3-Min Walk)
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
330,000 SF
Building Class
B
Year Built/Renovated
1924/2022
Price
$85,000,000
Price Per SF
$257.58
Percent Leased
92%
Tenancy
Multiple
Building Height
21 Stories
Typical Floor Size
15,476 SF
Building FAR
21.04
Lot Size
0.36 AC
Zoning
M1-6 - Light Industrial
Amenities
- Air Conditioning
1 1
Exceptionally walkable
100/100
Fairly drivable
50/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 0787-0084 | Improvements Assessment | $24,927,480 |
| Land Assessment | $2,587,500 | Total Assessment | $27,514,980 |
Property Taxes
Parcel Number
0787-0084
Land Assessment
$2,587,500
Improvements Assessment
$24,927,480
Total Assessment
$27,514,980
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554-568 Eighth Ave
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