Description

The Lulla Team has been retained on an exclusive basis for the sale of a retail-condominium locatedat 5 East 44th Street. This is an incredible investment opportunity to own an approximately 2836 sq.ft. ( 1876 on the first floor and 960 in fully usable basement) retail-condominium with 14' of frontage on a main commercial corridor with tremendous foottraffic near Grand Central.The subject property is currently occupied by a medical practice but will be delivered vacant and isprime for an owner-user to occupy the space or makes a unique investment. The location is betweenMadison and Fifth Avenue - neighboring tenants include Brooks Brothers, The Cornell Club of NewYork, Allen Edmonds and Coach. This property represents a great opportunity for future ownership torealize a high yield in an area where retail rents have been steadily on the rise, expected cap rate is6-7%. It is one block from One Vanderbilt, which will be the city's tallest office tower building withover $1.6 million square feet.

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Description

The Lulla Team has been retained on an exclusive basis for the sale of a retail-condominium locatedat 5 East 44th Street. This is an incredible investment opportunity to own an approximately 2836 sq.ft. ( 1876 on the first floor and 960 in fully usable basement) retail-condominium with 14' of frontage on a main commercial corridor with tremendous foottraffic near Grand Central.The subject property is currently occupied by a medical practice but will be delivered vacant and isprime for an owner-user to occupy the space or makes a unique investment. The location is betweenMadison and Fifth Avenue - neighboring tenants include Brooks Brothers, The Cornell Club of NewYork, Allen Edmonds and Coach. This property represents a great opportunity for future ownership torealize a high yield in an area where retail rents have been steadily on the rise, expected cap rate is6-7%. It is one block from One Vanderbilt, which will be the city's tallest office tower building withover $1.6 million square feet.