28-30 West 22nd Street, New York, NY 10010

Flatiron, New York, New York 10010

Listing ID Number

25341

Property Description

Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of 28-30 West 22nd Street, a 6-story multi-tenanted office and retail building located in the Flatiron District of Manhattan between Fifth Avenue and Avenue of the Americas. The property features approximately 35,461 Rentable Square Feet and over 50 feet of frontage along the south side of West 22nd Street between Fifth Avenue and Avenue of the America. This ideal location is not only within two blocks of seven train lines (1, 6, F, M, R, W, and PATH), it also offers close proximity to many of New York City’s premier attractions including the Flatiron Building, Madison Square Park, Eataly, 5th Avenue Shopping Corridor, and Union Square.

The building contains 2 retail units totaling approx. 6,736 rentable SF across the first floor and basement. The upper floors span 28,725 rentable SF of office space that are split into 6 office units spanning from approximately 2,850 to 5,750 rentable SF. The second floor is divided into two equally sized office units while the third, fourth, fifth, & sixth floors are full floor units. The fifth floor, which spans approx. 5,745 rentable SF, is currently vacant and an additional 20,060 rentable SF are under short term leases, in total this represents roughly 75% of the rentable square footage.

The acquisition of 28-30 West 22nd Street represents a unique opportunity for investors, users and developers alike, offering strong in-place cash flow, the ability to immediately add-value through the expiring lease, and future conversion or redevelopment potential.

Overview

Building Type:Commercial Buildings

Contact

For further information or inspection, please contact Exclusive Agents:

Stephen P. Palmese
Vice Chairman
(718) 307 6552
stephen.palmese@cushwake.com

Robert A. Knakal
Chairman, New York Investment Sales
(212) 660 7777
robert.knakal@cushwake.com

John F. Ciraulo
Vice Chairman
(212) 660 7700
john.ciraulo@cushwake.com


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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.