545 5Th AveNew York, NY 10017

Property Details for 545 5Th Ave

Year built

1930

Lot size

0.29 AC

Property size (Sq ft)

180,349 SF

Zone code

C5-3

Property type

Banks

APN

01279-0069

APU

12790069

Description

This exceptional sublease opportunity presents a 3,276 square foot office space on the 9th floor of 545 5th Avenue in the heart of Midtown Manhattan. Located in a vibrant commercial and cultural hub, this space offers unparalleled convenience and accessibility, surrounded by iconic landmarks, world-class dining, shopping, and entertainment. The building itself is situated amidst a high volume of foot traffic from both tourists and residents. The flexible layout of this single-tenant space is adaptable to a variety of professional needs, making it ideal for businesses seeking to expand or establish a new presence in this dynamic area. The larger building encompasses 180,349 square feet situated on a 12,550 square foot lot. This prime location boasts exceptional visibility and is easily accessible via multiple public transit stations, including the nearby Penn Station, a major transportation hub. The surrounding area is rich in culture and offers a dynamic environment for any business. This sublease provides a unique chance to establish a presence in one of New York City's most prestigious and sought-after locations. The space is suitable for various professional or creative uses.

• CAP approach

  CAP return

  Valuation

  6%

  $43,831,104

  6.5%

  $40,459,480

  7%

  $37,569,516

• Comparable approach

  Method

  Valuation

  Relative Method

  $59,382,288

  Geo Method

  $59,382,288

• Alternative Use

  Use

  Valuation

  Residential

  $34,129,084

  Hospitality

  $31,262,058

  Educational

  $26,009,666

  Medical

  $26,904,178

  Retail

  $40,459,480

Location Insight

City

New York

County

New York

State

New York

Latitude

40.7551

Longitude

-73.9792

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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