Building

BOUTIQUE OFFICE AND RETAIL BUILDING FOR SALE

Upland Property Advisors, as exclusive agent, is pleased to offer for sale the fee simple interest in 433 Fifth Avenue (the “Property”), a beautiful 23,354 square foot Fifth Avenue office and retail building located one block south of Bryant Park. The Property is anchored by a recent 10-year, 9,359 square foot mixed-use lease with a leading national retailer. The Property’s Fifth Avenue/Bryant Park location delivers powerful demand drivers and enduring value, making 433 Fifth Avenue an ideal wealth preservation vehicle with immediate upside potential. Additional upside can be unlocked through the sale or utilization of the Property’s 30,000 square feet of excess development rights.

Key Facts

  • — Beautiful Architecture
    Elegant turn-of-the-century design is perfectly suited to trend-setting experiential retailers and innovative boutique firms.
  • — National Anchor
    Long term three floor lease with a rapidly growing national brand with a full guarantee from the corporate parent.
  • — Boutique Office Appeal
    Prestigious 3,500 sf full-floor boutique office suites with broad industry appeal.
  • — Loss Factor Upside
    The Property’s office space is currently under-measured, creating an opportunity to add more than 3,000 RSF – significant revenue growth upon expiration while maintaining attractive per-square-foot rents.
  • — Mark-to-Market Upside
    Current office leases are approximately 35% below market, delivering outstanding upside as office leases expire in 2022 and 2025.
  • — Lease-up Opportunity
    The Property’s two available suites, encompassing the entire third and fourth floors, create an immediate opportunity to grow cash flow – convenient and prestigious Fifth Avenue full-floor boutique office space that presents an outstanding value proposition.
  • — Fifth Avenue Prestige
    Fifth Avenue is the most famous urban boulevard in the world, known for its iconic tourist destinations and unmatched commercial activity – exceptional visibility, convenience and prestige.
  • — Bryant Park
    The Property is located just one block from Bryant Park, delivering a host of popular amenities while adding to the exclusivity of the Fifth Avenue location.
  • — Commercial Core
    The Property is situated in the midst of the world’s greatest concentrations of major corporations, creating a strong demand base for business services from the tenants at 433 Fifth Avenue.
  • — Lord & Taylor / WeWork Headquarters
    The iconic Lord & Taylor building is located directly across Fifth Avenue from the Property – recently purchased by WeWork for $850 million and now undergoing a $438 million office and retail renovation that will bring thousands of new young professionals into the neighborhood.
  • — Outstanding Transportation Access
    Five minute walk to Grand Central, with 16 subway lines within easy walking distance – exceptional convenience for both Property tenants and their clients.
  • — Excess Development Rights
    As built the property possesses approximately 30,000 square feet of unused development rights that could be sold or utilized in a redevelopment of the property or a larger assemblage.