420 FIFTH AVENUE THE 72,012 RSF OFFICE CONDOMINIUM SITUATED ON FLOORS FLOORS CAN BE SOLD INDIVIDUALLY 18,003 RSF EACH

Transcription

1 420 FIFTH AVENUE THE 72,012 RSF OFFICE CONDOMINIUM SITUATED ON FLOORS FLOORS CAN BE SOLD INDIVIDUALLY 18,003 RSF EACH

2 420 FULL FLOOR OFFICE CONDOS As exclusive agents, we are pleased to offer for sale: FIFTH AVENUE 14 TH FLOOR 18,003 RSF 15 TH FLOOR 18,003 RSF 16 TH FLOOR 18,003 RSF 17 TH FLOOR 18,003 RSF TOTAL - 72,012 RSF INVESTMENT SUMMARY Cushman & Wakefield and Avison Young have been exclusively retained to sell the condominium ownership interest in floors fourteen (14) through seventeen (17) at 420 Fifth Avenue. The Class A office condominium is located on Fifth Avenue between West 37th and West 38th Streets within one of the most highly desired submarkets in Manhattan, just south of Bryant Park. The four contiguous floors contain approximately 72,012 rentable square feet of office space, consisting of 18,003 rentable square feet each, and will be delivered vacant. The floors may be sold together, individually or even subdivided up to three units per floor. ASKING PRICES 14 th Floor 18,003 RSF $21,250,000 $1,180/RSF 15 th Floor 18,003 RSF $21,500,000 $1,194/RSF 16 th Floor 18,003 RSF $21,750,000 $1,208/RSF 17 th Floor 18,003 RSF $22,000,000 $1,222/RSF Package Totals 72,012 RSF $86,500,000 $1,200/RSF UNIT FEATURES Delivered Vacant and broom clean condition Virtually column free floor plates (3 columns per floor) Full-floor presence. All floors clear immediate surrounding buildings. Views are protected due to landmark status and zoning limitations of adjacent properties. 13 Ceilings slab-to-slab Full height windows on all four sides - Excellent light and views Flexible open layouts perfect for a wide range of owner occupiers/tenants, including legal, consulting, Not-For-Profits, TAMI (technology, advertising, media and information) and FIRE (financial services, insurance and real estate) BUILDING HIGHLIGHTS World class location on the upper floors (14-17) of a mid-town Manhattan high-rise Class A office building on Fifth Avenue High security, 3-story clear atrium lobby, and large plaza entry Close proximity to Grand Central Terminal, Penn Station, The Port Authority Bus Terminal, PATH trains and twelve subway lines Two blocks from Bryant Park, Herald Square, The New York Public Library, Macy s, the Empire State Building and Lord & Taylor s Flagship retail store which was just sold to WeWork to become their Headquarters.

3 420 FIFTH AVENUE NEW YORK, NY OFFICE CONDOMINIUM FLOORS PROPERTY INFORMATION Location The entire westerly block front of Fifth Avenue between West 37 th and West 38 th Streets Unit 14 th Floor 15 th Floor 16 th Floor 17 th Floor Package Totals Block / Lot 839 / / / / 1051 Rentable SF 18,003 18,003 18,003 18,003 72,012 Common Interest % % % % % R/E Taxes (18/19)* Per Year $320,435 $320,435 $320,435 $320,435 $1,281,740 Per RSF $17.80 $17.80 $17.80 $17.80 $17.80 Common Area Charges Per Year $210,694 $210,694 $210,694 $210,694 $842,775 Per Month $17,558 $17,558 $17,558 $17,558 $70,231 Per RSF $11.70 $11.70 $11.70 $11.70 $11.70 Association Fee Per Year $10,500 $10,500 $10,500 $10,500 $42,002 Per Month $875 $875 $875 $875 $3,500 Per RSF $0.58 $0.58 $0.58 $0.58 $0.58 Total Carry Costs Per Year $541,629 $541,629 $541,629 $541,629 $2,166,517 Per Month $45,136 $45,136 $45,136 $45,136 $180,543 Per RSF $30.09 $30.09 $30.09 $30.09 $30.09 Asking Prices $21,250,000 $21,500,000 $21,750,000 $22,000,000 $86,500,000 Per RSF $1,180 $1,194 $1,208 $1,222 $1,200 * Ownership is in the process of challenging the taxes with their professional Tax Certiorari. Their expectations are the taxes are going to stabilize between $14-$15 per SF

4 E IN THE HEART OF MIDTOWN S COMMUTER TRIANGLE BUILDING FEATURES Conveniently positioned between Grand Central Terminal, Port Authority and Penn Station Midtown South feel with Class A Bryant Park efficiency and location Directly next to the Lord & Taylor building which will be home to the new flagship WeWork headquarters D ADOLPH S OCHS ST W 43RD ST E 43RD ST W 42ND ST TIMES SQ S E 42ND ST W 41ST ST BRYANT PARK 4 GRAND CENTRAL TERMINAL E 41ST ST 9TH AVE W 34TH ST W 31ST ST 8TH AVE A E C PORT AUTHORITY BUS TERMINAL W 39TH ST W 38TH ST W 37TH ST W 36TH ST W 35TH ST PENN PLZ W 33RD ST MADISON SQUA RE GARDEN AVE FASHION THAVE Y WA BRO A D W A Q R N W 32ND ST PENN STATION W 30TH ST 6TH AVE AM ERICAS THE AVENUE OF W 40TH ST 420FIFTH AVE F M D B E 37TH ST E 36TH ST E 35TH ST E 34TH ST 5TH AVE DISON AVE MAD 5 PARK AVE TUNL PARK AVE ON AVE LEXINGTO E 33RD ST E 32ND ST E 31ST ST E 30TH ST E 40TH ST E 39TH ST E 38TH ST AVE 3RD 2ND AVE MI W 29TH ST E 29TH ST FOR MORE INFORMATION, PLEASE CONTACT: JOHN CIRAULO Vice Chairman john.ciraulo@cushwake.com CRAIG WAGGNER Director craig.waggner@cushwake.com DOUGLAS BLANKROT Senior Associate douglas.blankrot@cushwake.com CUSHMAN & WAKEFIELD 1290 Avenue of the Americas New York, NY cushmanwakefield.com JAMES NELSON Principal james.nelson@avisonyoung.com HENRY POST Associate henry.post@avisonyoung.com AVISON YOUNG 1166 Avenue of the Americas New York, NY avisonyoung.com Cushman & Wakefield Copyright No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.

5 LOCATION...LOCATION...LOCATION An ideal Midtown location near Bryant Park, between Times Square and Grand Central Terminal. Sitting at the crossroads of commerce and tourism, this area offers professionals a vibrant work environment, replete with restaurants, retail, convenient public transportation, and after-work entertainment. Bryant Park, one of New York s most beloved open spaces, is just a few blocks away, as is Fifth Avenue s exclusive retail corridor, and the Theater District. This location provides close proximity to twelve subway lines and the three primary railroads servicing Westchester/ Fairfield Counties, Long Island, and New Jersey including the and trains along with the 42nd Street Shuttle, MetroNorth, Long Island Railroad and Path trains. IN THE HEART OF MIDTOWN WEST

6 CORE AND SHELL FLOOR PLAN

7 420 FIFTH AVENUE JOHN CIRAULO Vice Chairman CRAIG WAGGNER Director JAMES NELSON Principal DOUGLAS BLANKROT Senior Associate HENRY POST Associate