15 W 47th Street, New York, NY 10036

Midtown West, New York, New York 10036

Ownership Requests Proposals

Listing ID Number

25332

Property Description

INVESTMENT HIGHLIGHTS

NEWLY RENOVATED OFFICE AND RETAIL ASSET
♦ 15 W 47 totals 136,370 square feet and includes retail and booth space within a double-height, multi-level 10,745 square foot Exchange on the ground floor
♦ Recently completed, high-end renovation included elevator modernization, private HVAC installation for each unit, building-wide corridor and lobby enhancements, state-of-the-art security system and vault upgrades, as well as energy efficient lighting fixtures
♦ The Property includes 201 individual units and includes a mixture of diamond and jewelry tenants with units typically ranging from 100 to 2,500 square feet
♦ At 18-stories and nearly 100’ of frontage The Property offers a sizable presence along West 47th Street

STRONG CASH-FLOW WITH FUTURE GROWTH POTENTIAL
♦ West 47th Street is the premier diamond and fine jewelry shopping district in the world with over 2,600 independent diamond related businesses operating along the block
♦ The United States is the world’s largest consumer market for diamonds and over 90% of all diamonds that enter the country come through the Diamond District
♦ The need for secure, efficient office and retail space along the corridor has ideally positioned 15 W 47 to capture tenant demand
♦ 15 W 47 achieves among the highest rent per square foot for office, retail and booth space along 47th Street, boasting a nearly 90% occupancy rate as of November 2017
♦ Unique industry specific office and retail requirements are expected to continue to drive leasing activity and future rental growth

ICONIC WEST 47TH STREET DIAMOND DISTRICT LOCATION
♦ Positioned on the north side of West 47th Street between 5th and 6th Avenues, 15 W 47 is in the heart of the West 47th Street Diamond District
♦ Premier commercial destination with convenient access to retail, subways, and renowned restaurants as well as major employment and night life destinations.
♦ Countless attractions surround The Property with Rockefeller Center just one block north, Radio City Music Hall three blocks north along Sixth Avenue and St. Patrick’s Cathedral three blocks north along Fifth Avenue

Overview

Building Type:Commercial Buildings
Block/Lot:1263/24
Lot Dimensions:97.5 x 100.42
Lot Sq Ft:9,790
Stories:18
Zoning:C6-4.5 MID
Tax Year:17/18
Taxes:$1,848,314

Contact

For further information or inspection, please contact Exclusive Agents:

Robert A. Knakal
Chairman, New York 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


Property Images

Click the image for a high resolution version.

<     /     >

Property Map


Aerial View


The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.