16 East 32nd Street
16 East 32nd Street
NoMad
Former 100-Key Avalon Hotel Offering 65.5 Feet of Frontage on East 32nd Street Between Fifth and Madison Avenues
| Type | Hotel |
|---|---|
| Neighborhood | NoMad |
| Properties | One |
| Lot Size | 6,468 Square Feet |
| Zoning Code | C5-2 |
| Size | 71,250 Gross Square Feet |
| Stories | 12 |
| Units | 100 Keys |
| Air Rights | Overbuilt |
Investment Highlights:
Meridian Investment Sales is pleased to present the exclusive offering for the sale of 16 East 32nd Street – the former 100-key Avalon Hotel offering 65.5’ of frontage on East 32nd Street between Madison and 5th Avenues in the booming NoMad neighborhood of Manhattan. The 12-story, three-elevatored, 71,250 gross square foot asset will be delivered 100% vacant – with no management or flag, thus offering investors a blank slate. Located in the forgiving C5-2 zoning district, options include continued use as a hotel or conversion to luxury office, residential, or student housing. Assuming office conversion where rents in the neighborhood regularly achieve $60 per rentable square foot, the RSF will be roughly 85,500. Additionally, the site is ideal for users or large tenants looking to establish a flagship presence in one of New York City’s hottest neighborhoods.
[pardot-form id=”13939″ title=”MIS – Schechtman – 16 East 32nd”]
