JLL, as exclusive agent, is pleased to offer for sale two new commercial condominium units being created on the full third and fourth floors of 520 West 49th Street (the “Property”). The entire four-story building received a top to-bottom renovation in 2005 and is in excellent condition with fully modernized building systems. The current owner of the building, American Red Cross (“ARC”), is right-sizing and will continue to own and occupy the first, second, and basement floors, freeing up the remaining third and fourth floors for sale to a third party. The new condominium units will be delivered vacant and are ready for immediate occupancy by a tenant or user.
Sixteen-foot ceilings, 29,000 square foot floorplates, and industrial-grade elevators and floor loads make the space ideal for a wide variety of uses, including creative office, showroom, medical, financial, education, and not for-profit facilities. This rare offering provides an outstanding value proposition versus office condominium product in Midtown and Midtown South, with a notable lack of for-purchase alternatives in the 25,000 square foot range