15 West 36th Street, New York, NY, 10018

Highlights

• Newly renovated lobby (2024)
• - Rare and attractive light and air attributes for
• future conversion to residential use
• (unlike most mid-block properties, the properties
• to the rear of the Property are low lying providing
• unobstructed
• light from the 5th floor and above)
• No near-term capital needs
• Three elevators (two automatic passenger and one manual freight)
• Typical floor size of 5,000 RSF

Description

Avison Young, as the exclusive agent, is pleased to offer for sale 15 West 36th Street (the “Property”), a 16-story office building located between 5th and 6th Avenues in the Midtown submarket. Built in 1917, the Property totals 81,082 RSF and is comprised of retail space on the ground, mezzanine and lower level, and office spaces on floors two (2) through sixteen (16). The property is 61% leased, with 56% occupied by office space and 5% by retail, and has a weighted average lease term (WALT) of 3.03 years. Four contiguous vacant floors and the ability to access additional floor area upon pending lease roll, offers end-users and investors an opportunity to acquire a generational asset at a historically attractive basis. In addition, the Property boasts generous ceiling heights, plentiful light and air, flexible floor plates catering to a wide range of office users, and unrivalled access to Manhattan’s main transportation hubs. The Property’s lobby was recently renovated. Although the Property’s location and M1-6 zoning currently falls within the excluded zone for residential conversions per Article 1 Chapter 5 of the Zoning Resolution, the Midtown South Mixed-Use Plan and “City of Yes” rezoning proposals will unlock this ability to convert to residential use. When combined with the 467-m tax abatement, the future viability of a residential conversion adds tremendous value potential.

Midtown