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September 23, 2020 Comments Off on Avison Team Markets Union Square Offices for Net Lease Views: 388 Downtown New York, New York News

Avison Team Markets Union Square Offices for Net Lease

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The Tri-State Investment Sales Group for Avison Young has been named the exclusive agent for 8-12 W. 14th St./5-11 W. 13th St., a roughly 130,000-rentable square-foot, six-story office building located in downtown Manhattan’s Union Square/Greenwich Village neighborhoods. The property is being offered for a long-term, 99-year net lease.

An Avison Young team led by principals James Nelson, Vincent Carrega, Neil Helman, Jon Epstein, Charles Kingsley and Todd Korren, and senior associate Carter Lovejoy is marketing the asset on behalf of ownership. It’s leased by the NYC Human Resources Administration through January 2023.

“The property is an excellent investment opportunity with terrific potential,” said Helman. “The city tenancy creates a win-win opportunity for investors. Should the city extend its lease, the property will enjoy abundant, stable income in one of the hottest submarkets in the city.”

Alternately, he added, it could be redeveloped as a luxury mixed-use residential property.

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