Multi-Tenant Office
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54 W 39th St, New York, NY 10018
Sixteen-story Midtown property with wellness-oriented occupancy, fee-simple ownership, and flexible long-term repositioning potential.
Property Size47,000 SF
Days on Market106
Property Features for 54 W 39th St
General Information
Standard status
Active
Size
47,000 SF
Net Rentable
47,000 SF
Property subtype
Office
Zoning
Midtown South Mixed-Use District
Occupancy
84%
Net Operating Income
$1,614,146
Additional Details
Gross Income
$2,037,700
Office Units
19
Amenities
54 West 39th Street sits at the precise intersection of Midtown's two most active office corridors — the Bryant Park/Grand Central axis to the east and the Penn Station/Times Square axis to the west.
54 West 39th Street has organically attracted one of the most concentrated health and wellness tenant bases of any mid-size Midtown office building.
The Property benefits from a recorded air and light easement with the adjacent property at 56 West 39th Street to the north. This easement permanently protects the north-facing light and views.
Building Details
Building Size
47,000 SF
Year Built
1924
Buildings
1
Stories
16
Tenancy
Multi
Listing Agency:
(212) 430-5175
Listed By:
Adam Steiner · License #License(s): NJ: 2298831, NY: 10401373472
(212) 430-5175
Source:
Marcusmillichap
Added: May 18
Changed: Aug 30
Last Checked: Aug 30 at 1:19PM
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 Adam Steiner
Investment Insights
Based on property information with market context.
Built in 1924, this 16-story office property contains approximately 47,000 rentable square feet arranged across 19 units. The building is currently 84% occupied, with health, wellness, and fitness operators representing approximately 16,000 rentable square feet of tenancy. Named occupants include Training Lab NYC, R2 Fitness, RMN Fitness, and Brooklyn Breathes.
The property is located at 54 W 39th St between Fifth and Sixth Avenues in Midtown Manhattan. Ownership is fee simple and free of a ground lease. A recorded air and light easement benefiting the building provides permanent northern light and protected views. The August 2025 approval of the Midtown South Mixed-Use Rezoning permits residential development up to 18 FAR on this block, adding a documented future-use consideration.
The property is located at 54 W 39th St between Fifth and Sixth Avenues in Midtown Manhattan. Ownership is fee simple and free of a ground lease. A recorded air and light easement benefiting the building provides permanent northern light and protected views. The August 2025 approval of the Midtown South Mixed-Use Rezoning permits residential development up to 18 FAR on this block, adding a documented future-use consideration.
Key Highlights
- Approximately 47,000 rentable square feet in a 16‑story office building
- 84% occupied across 19 units
- Health, wellness, and fitness tenants occupy approximately 16,000 rentable square feet
Property Analytics
Property Profile
Current Use
Lease Details
19
Office units
84%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
100,617
Businesses Nearby
Explore this area
Business Placement
Demographics for 10018, NY
11,145
Population
5,678
Households
2
Avg Household Size
35
Median Age
75%
College-Educated
92%
High-School Grad
0.3 sq mi
ZIP Area
37,150
Density / Sq Mi
$133,042
Median Household Income
$103,655
Median Earnings
$3,501
Median Rent
$947,100
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office building - Sixteen-story Midtown property with wellness-oriented occupancy, fee-simple ownership, and flexible long-term repositioning potential.
Where is this office building located?
The property is located at 54 W 39th St New York, NY.
What are key features of this property?
This property features: Approximately 47,000 rentable square feet in a 16‑story office building; 84% occupied across 19 units; Health, wellness, and fitness tenants occupy approximately 16,000 rentable square feet
