16 East 32nd Street

Former 100-Key Avalon Hotel Offering 65.5 Feet of Frontage on East 32nd Street Between Fifth and Madison Avenues

16 East 32nd Street, New York, NY 10016
Asking Price Submit Offers
Type Hotel
Neighborhood NoMad
Properties One
Lot Size 6,468 SF
Zoning Code C5-2
Size 71,250 Gross SF
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.

Location:

Located on East 32nd Street Between Fifth and Madison Avenues, Offering 65.5 Feet of Frontage

Property Listing Contact:

David Schechtman // Senior Managing Director // 800 3rd Ave., New York, NY // 212.468.5907 // dschechtman@meridiancapital.com

Lipa Lieberman // Managing Director // 800 3rd Ave., New York, NY // 212.468.5908 // llieberman@meridiancapital.com

Abie Kassin // Director // 800 3rd Ave., New York, NY // 212.468.5909 // akassin@meridiancapital.com

Jeremy Nazarian // Vice President // 800 3rd Ave., New York, NY // 212.468.5913 // jnazarian@meridiancapital.com