A seven-story Midtown Manhattan office building at 4 West 43rd Street near 5th Avenue, recently renovated with 72,000 square feet of space. The property has significant development rights allowing 100,000 to 150,000 additional square feet for residential or commercial use, plus New York State housing tax incentives.
Hi, everyone. I am here in Midtown and Behind me is 4 West 43rd street, right off 5th Avenue, also around the corner from our New York headquarter office, this property. And listen up, because there's a lot of potential here, a lot of different ways that you could look at this. So it's 125 foot wide, seven story office building, 72,000ft, really nice renovation. Inside meeting space. Really interesting for a potential end user or a commercial investor. But it also has substantial development rights. We're talking about over a hundred, 150,000ft of buildable that could be for residential or commercial. Now, if you all have been following what we've been putting out with the New York state housing package, 485X could definitely come into the mix here. So it'll be interesting to see. Will developers look at this as rental or condo? Okay, you might say, James, I don't know, 43rd and 5th Avenue. Is there a precedent for condo development? Well, you might want to take a look at 525th Avenue, which is going up or topped out, I should say behind me. 88 stories I've told is already selling quite well. So really interesting proposition here. A lot of different ways that you can work. As always, you can go to avisonyoung Tristate Investment Sales. For more information on.
