PROPERTY FEATURES Block / Lot: 1009 / 50 Lot Dimensions: 80' x 100.42' Building Dimensions: 80' x 79' Stories: 14 Year Built: 1908 Above Grade Office Rentable SF: 75,109* Above Grade Retail SF: 10,012 Below Grade Retail SF: 9,563 Total SF: 85,121 Residential Condo NSF: 49,541 Usable SF: 61,715 Gross SF: 76,462** Zoning: C5-3 FAR: 15.00 Lot Area: 8,034 Total Buildable SF: 120,510 Air Rights: SOLD Assessment (17/18): $11,509,430 Taxes (17/18): $1,210,101 * 28.5% loss factor ** Not inclusive of Below Grade SF PROPERTY DESCRIPTION Cushman and Wakefield has been retained on an exclusive basis to arrange for the sale of 140 West 57th Street, a truly remarkable 14-story commercial asset positioned within the world-famous trophy business district between 6th and 7th Avenues. The approximately 85,000 rentable square foot Landmark property offers contemporary features along with exquisite architectural detail, just steps from Midtown s main attractions. Originally designed by renowned architects Pollard & Steinam, the neo- Gothic façade is enhanced by 14 foot bay glass windows set in geometrically ornamented cast iron frames that have been restored to its original early 1900 s grandeur. Initially positioned as artist studios, the offices feature wooden floors, original fireplaces, and expansive duplex units with 20 foot ceilings. The unique office configurations coupled with soaring ceiling heights provides significant light & air throughout the property. Typical floor plates range from 4,400 to 6,800 rentable square feet. Due to the flexible zoning and current vacancy of the entire office component an investor or user has the ability to execute a variety of repositioning opportunities including a luxury office building, conversion to boutique condominiums or a one-of-a-kind corporate headquarters. 140 West 57th Street is ideally positioned as an unusually large blank canvas for a developer, investor or user to execute a myriad of potential visions. Cushman & Wakefield Copyright 2018. 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.
PROPERTY HIGHLIGHTS Boutique Office Renovation Iconic Corporate Headquarters along 57th Street Unique Residential Conversion Opportunity Blank canvas of over 75,000 rentable square feet for an ideal boutique office renovation The world-famous Plaza District, is considered one of the premier office destinations in New York City Office configurations could feature single tenant or multitenant floors ranging from 4,400 to 6,800 square feet Opportunity to brand the asset to focus on a specific sector such as; medical, technology, media, finance, fashion or advertising 57th Street is arguably one of the most sought after addresses in Manhattan and will surely position a business or corporation in a class of its own The historical significance of the asset coupled with its incredibly unique architectural details make for a one-of-a-kind corporate headquarters Flexible zoning allows for both commercial / office use coupled with the ability to create residential units on the upper floors. Residential developers have the ability to take advantage of the insatiable demand for luxury condominiums along Billionaire s Row Floors feature double height 20 atriums and 14 bay glass windows with northern exposure providing tremendous light and air throughout the Property Developments such as One57, 111 West 57th Street, 220 Central Park South and 432 Park Avenue continue to outperform the Midtown residential market Notable businesses and corporations located within close proximity include; Time Warner, Polo Ralph Lauren, Estee Lauder, Marvel Entertainment, Simon & Schuster and W.P.P. Vacant delivery allows for the opportunity to immediately reposition the asset W 57th ST 7th AVE BLOCK 1009 100.42 80 LOT 50 6th AVE W 56th ST
Cushman & Wakefield Copyright 2018. 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.
FOR MORE INFORMATION, PLEASE CONTACT: ROBERT KNAKAL Chairman, NY Investment Sales (212) 660 7777 robert.knakal@cushwake.com ADAM SPIES Chairman (212) 841 5903 adam.spies@cushwake.com JONATHAN HAGEMAN Executive Managing Director (212) 660 7773 jonathan.hageman@cushwake.com ADAM DONEGER Executive Managing Director (212) 841 5931 adam.doneger@cushwake.com GEORGE D AMBROSIO Director (212) 660 7790 george.dambrosio@cushwake.com