Brand New Pre-Built Unit at the Lipstick Building

November 22, 2016

Lance Leighton

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

Call 212-326-8668

Plaza District Office Space with Outstanding Views – 5,270 Rentable Square Feet

Generally speaking, The Plaza District encompasses the grid from 50th to 60th Streets, between Third and Seventh Avenues.  Home to some of the most prestigious addresses in New York City (i.e. The GM Building, 9 West 57th Street, 712 Fifth Avenue, 590 Madison Avenue, 375 Park Avenue, & 667 Madison Avenue – just to name a few), the rents are typically among the highest in New York City.  However when you dig a little deeper, there are certain nuances attributed to each avenue and street that aren’t so obvious when it comes to pricing and availability. Sixth Avenue typically has enormous corporations occupying large blocks of office space, while Third Avenue is often selected as a value play for smaller and more boutique tenants.   That being said, one of the premier assets on Third Avenue, 885 Third Avenue, stakes claim to housing a number of high-end financial firms, as well as the powerhouse law firm, Latham & Watkins.  Given the nickname “The Lipstick Building” because of its unique resemblance to the cosmetic apparatus, the building has been one of the crown jewels east of Park Avenue since its erection in 1986, and continues to be appropriate for hedge funds, investment banks, private equity firms and boutique financial companies.  Though the building is relatively well-leased on a direct basis (98%), there is a brand new pre-built unit worth notable mention on the partial 31st floor.

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Measuring 5,270 rentable square feet, the unit was just constructed with 3 windowed offices, 2 windowed conference rooms, a large open area that can fit up to 30 trading desks, and an open pantry (click here to see a floor plan).   Utilizing a tremendous amount of glass, wood, stone, sheetrock and other high-end materials, this southeastern facing unit boasts outstanding views in 3 directions that includes an up and coming Long Island City skyline, the east river and incredible southern exposures.  Available for possession immediately, this space is undoubtedly one of the best options at its price point (click here to contact us for pricing).

Please click here to contact us with questions or here to try our free office space search.

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