Small Floors – Perfect for Boutique Users

As noted in previous articles, Bryant Park has become a hotbed for commercial real estate in New York City.  Home to some of of the most highly regarded Manhattan office buildings (One Bryant Park (Bank of America Tower), 1114 Avenue of the Americas (The Grace Building), 452 Fifth Avenue (HSBC Tower), 1095 Avenue of The Americas, and the highly anticipated 7 Bryant Park, office rents can easily exceed $100 per square foot.  However, for a boutique tenant such as a hedge fund, private equity firm or law firm, there are unique and well priced full floor availabilities at 489 Fifth Avenue.

Located in one of the most geographically convenient areas (Fifth Avenue between 41st and 42nd street), the asset is a short walk from Grand Central and Penn Station. Measuring 4,988 square feet per floor, the highly efficient floorplates are conducive to a just about any user.  Though it is atypical to find full floors of this size in the area, the units are priced quite reasonably.  The landlord has several pre-built floors available and raw ones where they will build-to-suit to incoming tenant’s needs.  See below pictures of the typical finishes and test fits.

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