Unique Penthouse Office Space in Chelsea – NYC

May 9, 2014

Lance Leighton

Co-Founder – HedgeFundSpaces.com
Senior Managing Director, Savills
New York State Licensed Real Estate Salesperson

Call 212-326-8668

Perfect for a Hedge Fund, Private Equity Firm or Boutique Financial Services Firm

The secret is out.  Chelsea has become one of the hottest neighborhoods in New York City and perhaps the world.  With easy access to some of the best hotels, restaurants, nightclubs and transportation hubs in Manhattan, this once gritty neighborhood has transformed into a booming submarket.  With an unusually high demand for office space in the area, it is not atypical to see asking rents in the $50s, $60s and $70s per square foot.  However, ownership at 158 West 27th Street, a relatively nondescript mid-block building, is trying to accomplish a rent that often comes with Central Park views… Triple digits.

Located on 27th Street (between Sixth and Seventh Avenues), the building is in the heart of Midtown South.   Emmes Group (the owner of the building), spent a tremendous amount of capital into renovating the asset, which includes an updated lobby, elevator cabs and mechanical systems.   Additionally, Emmes is in the process of constructing an INSANE penthouse on the roof.  Measuring just under 4,000 square feet (3,697 to be exact), the structure will be a column-free cube that is perfect for trading  (click here for a floorplan)The ceiling heights will be astronomical (about 20’) and there will be floor-to-ceiling glass.   Lastly, there will be about 4,000 square feet of outdoor area for entertaining.   Once completed, this might become the best office space in Midtown South for a boutique user.   Looking for other unique office spaces in New York City? Click here for our free customized office space search.

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