Vacant Office Space in
633 3rd Ave New York, NY 10017
633 3rd Ave, New York, NY, 10017
Contact for pricing
For Sale
Contact for pricing
Full floor office condominium in Grand Central submarket available for sale.
Property Size44,779 SF
Price / SF$401.97
Days on Market1168
Property Features for 633 3rd Ave
General Information
- Standard status
- Active
- Size
- 44,779 SF
- Property subtype
- Office
Listing agency
Cushman & Wakefield New York
(212) 660-7744
Listed by
Craig Waggner · License #NY 40WA1007271
Source
Crexi
Added: May 12, 2023 Updated: Jul 6 at 8:40AM Checked: Jul 21 at 8:39AM
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 Cushman & Wakefield New York
Investment Insights
Based on property information with market context.
The property offered for sale is the condominium ownership interest in the entire seventh floor at 633 Third Avenue. This Class A office condominium is situated on Third Avenue within Manhattan's Grand Central submarket, positioned east of Bryant Park and west of the United Nations. The unit encompasses approximately 44,779 rentable square feet of vacant office space. It will be delivered vacant, allowing for immediate possession. The property is being offered on an "as-is" basis with vacant possession immediately.
Key Highlights
- Delivered vacant, allowing immediate possession.
- Full floor (44,779 rentable square feet) of Class A office space.
- Located in the highly desired Grand Central Submarket of Manhattan.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $2.31M | $51.48 |
| − Vacancy | −$435.7k | −$9.73 |
| EGI | $1.87M | $41.75 |
| − OpEx | −$467.4k | −$10.44 |
| NOI | $1.40M | $31.31 |
44,779 SF · lease $51.48/SF/yr · vacancy 18.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$20.03M
$17.53M – $23.37M
NOI $1,402,152 @ 7.0% cap · market cap 7.79%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$111.46M
$97.53M – $130.04M
NOI $7,802,293 @ 7.0% cap · market cap 43.35%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Joelle Weiss Attorney ...
Law Firm
Marcus & Pollack LLP
Law Firm
Aspen Aesthetic Clinics ...
Medical Clinic
VIOL Attic Insulation ...
General Contractor
Seth Owusu, RPh
Pharmacy
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FAQs
What type of property is this?
Office units - Full floor office condominium in Grand Central submarket available for sale.
Where is this office units located?
The property is located at 633 3rd Ave New York, NY.
What is the asking price?
The asking price for this property is $18,000,000.
What are key features of this property?
This property features: Delivered vacant, allowing immediate possession.; **Full floor (44,779 rentable square feet) of Class A office space.**; Located in the highly desired Grand Central Submarket of Manhattan.
