17 E 47th Street, New York, NY 10017

Midtown East, New York, New York 10017

$23,850,000  

Listing ID Number

25489

Property Description

Cushman & Wakefield has been retained exclusively to arrange for the sale of 17 East 47th Street, a vacant, 8 story commercial buidling in Midtown, Manhttan. Located between Fifth Avenue and Madison Avenue, the property is neighbors with Rockefeller Center, Grand Central Station, Bryant Park, the Midtown Office Core, and shopping along Fifth and Madison Avenues.

Home to the Mercantile Library since 1932, the building will be delviered vacant and is a perfect opportunity for user groups, value-add investors, and hotel developers alike. With 18,000 SF of usable space in arguably NYC’s most prestigous locaton, 17 East 47th Street would serve as an ideal home to non-profit and cultural insitutions. The proximity to the United Nations and handsome facade makes this an especially attracive option for consulates, missions, and embassies.

The generous zoning (FAR of 15.0) and excess air rights (~20,485) also presents a significant opportunity for re-development as a boutique office or hotel project. In total, there are over 38,000 buildable square feet available to create a new project servicing Midotwn’s core office market and its tenants.

Overview

Building Type:Commercial Buildings, Development/Conversion Sites, Live Plus Income Buildings, Mixed-Use Investment Buildings, Mixed-Use User Buildings, Special Use
Lot Dimensions:25.25 x 100.42
Zoning:C5-3
FAR:15

Documents

Contact

For further information or inspection, please contact Exclusive Agents:

William Conrad
Associate
(212) 660 7740
William.Conrad@cushwake.com

Clint B. Olsen
Executive Managing Director
(212) 660 7747
clint.olsen@cushwake.com


Property Images

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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.