Incredible Opportunity for Office Space at 745 Fifth Avenue

November 4, 2015

Lance Leighton

Founder –
New York State Licensed Real Estate Salesperson

Call 516-557-1160

Small Floorplate with Extraordinary Central Park and Manhattan Views in The Heart of The Plaza District – Built Office Space for a Hedge Fund, Private Equity Firm or Investment Bank

Typically, the further north an office building is the more premier the address becomes.  745 Fifth Avenue, located on the southeastern corner of 58th Street, validates this claim.  Owned by the publicly traded REIT, Paramount Group, this classically designed Art Deco office building is one of the most desirable addresses for boutique tenants seeking office spaces in New York City (click here for a list of some of the best buildings in Midtown Manhattan).  Home to the notable men’s retailer, Bergdorf Goodman, the address delivers both cache and ease of access from both the Upper West and East sides.  Due to its wedding cake design, the floorplates begin at about 25,000 square feet each and shrink to approximately 6,200 square feet for the higher floors in the building- making it perfect for smaller office tenants seeking their own identities.

Situated directly across the street from The General Motors Building, the asset is a relative bargain compared to its next door neighbor.  Though the building still commands premium rents, often well in excess of $120 for its tower floors, it also offers unparalleled views of Central Park and extraordinarily high levels of construction finishes.  Although the majority of these smaller floors are currently leased, there is a unique opportunity available for the entire 32nd floor.  

Measuring 6,200 rentable square feet, the entire 32nd floor is currently built to a very-high standard in its existing condition.  Boasting full height glass office and conference room fronts, there is not a bad view from anywhere in the space.  Constructed with 5 offices, 2 conference rooms, a wet pantry and formal reception area, the existing layout is perfect for a hedge fund, private equity firm, family office or any other boutique financial services company – floorplan here.  Though the landlord would prefer to salvage the existing installation, they will also consider demolishing and building-to-suit an incoming tenant’s needs.  The asking rent is $135 per square foot and the term is fairly flexible, depending on a tenant’s desired scope of work.  Click here to contact us for more information or here for our free office space search.


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