Multi-Tenant Office Condominium
32 W 39th St, New York, NY 10018
For Sale
Contact for pricing
16-story office building offers full floors and large contiguous blocks with high ceilings and three-sided window exposure.
Property Size8,355 SF
Price / SF$800
Days on Market709
Property Features for 32 W 39th St
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Building Details
Stories
Listing Agency:
Rudder Property Group
(212) 966-3611
Listed By:
Michael Rudder · License NY #10491201687
(646) 483-2203
Source:
Moodyscre
Added: Dec 2, 2024
Changed: Oct 26
Last Checked: Nov 8 at 8:07AM
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
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Investment Insights
Based on property information with market context.
32 West 39th Street is a 16-story office condominium building in the Bryant Park submarket. The property offers full floors ranging from 3,970 RSF to 8,371 RSF, along with large contiguous office blocks of up to 50,000 RSF. Interiors benefit from high ceilings and three sides of large windows designed to provide bright natural light.
The building is located between Fifth and Sixth Avenues and is described as adjacent to Amazon’s Fifth Avenue Headquarters, with proximity between Grand Central and Penn station. Building improvements include a recently restored façade, a redesigned lobby, and elevator upgrades.
Additional noted features include potential for a roof deck on the 5th floor, adding optional outdoor amenity space within the building’s common areas or upper level footprint.
The building is located between Fifth and Sixth Avenues and is described as adjacent to Amazon’s Fifth Avenue Headquarters, with proximity between Grand Central and Penn station. Building improvements include a recently restored façade, a redesigned lobby, and elevator upgrades.
Additional noted features include potential for a roof deck on the 5th floor, adding optional outdoor amenity space within the building’s common areas or upper level footprint.
Key Highlights
- 87,072 SF 16‑story office building in the Bryant Park submarket at 32 West 39th Street
- Full floors available from 3,970 RSF to 8,371 RSF, plus contiguous blocks up to 50,000 RSF
- High ceilings with three sides of large windows for bright natural light
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$261,618
Cap Rate
3.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,232,360
$5.2M
Cap Rate 7%
$3,737,400
$3.7M
Cap Rate 9%
$2,906,867
$2.9M
Market Conditions
NOI Build-Up for 8,355 SF
Gross rent
$430.1K $51.48/SF
− Vacancy
−$81.3K −$9.73/SF
EGI
$348.8K $41.75/SF
− OpEx
−$87.2K −$10.44/SF
NOI
$261.6K $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 Rate 5%
$5,232,360
Cap Rate 7%
$3,737,400
Cap Rate 9%
$2,906,867
Alternative Uses
Best Use
Office B
$3.74M
$3.27M – $4.36M
NOI $261,618 @ 7.0% cap · market cap 3.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.84M
$5.11M – $6.81M
NOI $408,881 @ 7.0% cap · market cap 6.12%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
91,796
Businesses Nearby
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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
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Market
Properties on Market for Office buildings in New York
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - 16-story office building offers full floors and large contiguous blocks with high ceilings and three-sided window exposure.
Where is this office building located?
The property is located at 32 W 39th St New York, NY.
What is the asking price?
The asking price for this property is $6,684,000.
What are key features of this property?
This property features: 87,072 SF 16‑story office building in the Bryant Park submarket at 32 West 39th Street; Full floors available from 3,970 RSF to 8,371 RSF, plus contiguous blocks up to 50,000 RSF; High ceilings with three sides of large windows for bright natural light
