July 30, 2019 Comments Off on Mid-Block Offices Trade with Repositioning Potential Views: 380 Midtown New York, New York News

Mid-Block Offices Trade with Repositioning Potential

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ABS Partners Real Estate arranged the $37.25-million sale of 62 W. 45th St., a 12-story, mid-block Class B office building that had been privately owned for nearly 40 years. The firm’s Alan S. Cohen, Jay Caseley, Steven Hornstock and Alex Warner represented seller, 62 West 45th Street Associates LLC. The buyer wasn’t disclosed.

“In a market where there is still a dearth of building sales, we were delighted to have played an integral role in this transaction,” said Cohen. “This building is perfect for small to mid-size companies looking for a full-floor presence in Midtown, for which we’ve seen a tremendous uptick in demand.”

The 55,800-square-foot building is suitable for repositioning as a boutique office space, and there are 4,741 square feet of development rights available on the lot. “We look forward to working with the new ownership on leasing the upcoming available floors,” said Caseley.

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