Class A Office
For Sale
Contact for pricing
420 5th Ave, New York, NY
Efficient office space with excellent light and air.
Property Size31,153 SF
Lot Size0.67 Acres
Price / SF$650
Days on Market614
Property Features for 420 5th Ave
General Information
Standard status
Active
Size
31,153 SF
Lot size
0.67 Acres
Property subtype
OFFICE
Listing Agency:
Rudder Property Group
(646) 483-2203
Listed By:
Michael Rudder · License #10491201687
(646) 483-2203
Source:
Moodyscre
Added: Dec 2, 2024
Changed: Aug 8
Last Checked: Aug 8 at 12:24PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Rudder Property Group
Investment Insights
Based on property information with market context.
This Class A office condominium features a highly efficient center-core layout with excellent column-spacing and 12’ 10” slab-to-slab ceiling heights. The space benefits from three sides of floor-to-ceiling windows, providing excellent light and air. Currently occupied by Major League Soccer, the floors have a first-class office installation. The building is the only Class A office condominium on Fifth Avenue and is in close proximity to Grand Central, Port Authority, and Penn Station. The property boasts a prestigious owner roster including Luxottica, Helaba Bank, Mediterranean Shipping Company, Girl Scouts of America and The Rockefeller Foundation. It features a dramatic contemporary two-story lobby, attended 24/7, modern building systems, and first-class management. The building is adjacent to Amazon’s new NYC headquarters. The available space measures 31153 square feet. The floors can be sold individually or combined.
Key Highlights
- Only Class A office condominium on Fifth Avenue
- Three sides of floor‑to‑ceiling windows providing excellent light and air
- Prestigious owner roster including Luxottica, Helaba Bank, Mediterranean Shipping Company, Girl Scouts of America and The Rockefeller Foundation
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$975,485
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.82%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$19,509,700
$19.5M
Cap Rate 7%
$13,935,500
$13.9M
Cap Rate 9%
$10,838,722
$10.8M
Market Conditions
NOI Build-Up for 31,153 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$1.60M $51.48/SF
− Vacancy
−$303.1K −$9.73/SF
EGI
$1.30M $41.75/SF
− OpEx
−$325.2K −$10.44/SF
NOI
$975.5K $31.31/SF
Area
New York, NY
Vacancy
18.90%
Lease Rate
$51.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$19,509,700
Cap Rate 7%
$13,935,500
Cap Rate 9%
$10,838,722
Alternative Uses
Best Use
Office B
$13.94M
$12.19M – $16.26M
NOI $975,485 @ 7.0% cap · market cap 4.82%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$77.54M
$67.85M – $90.47M
NOI $5,428,099 @ 7.0% cap · market cap 26.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Efficient office space with excellent light and air.
Where is this office units located?
The property is located at 420 5th Ave New York, NY.
What is the asking price?
The asking price for this property is $20,249,450.
What are key features of this property?
This property features: Only Class A office condominium on Fifth Avenue; Three sides of floor‑to‑ceiling windows providing excellent light and air; Prestigious owner roster including Luxottica, Helaba Bank, Mediterranean Shipping Company, Girl Scouts of America and The Rockefeller Foundation
