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    420 5Th Ave New York, NY 10018

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    18,000 SF Executive Office Space for Sale

    Property size:
    18,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 18,000 square foot executive office building, located at 420 5th Avenue in New York, NY 10018, presents a unique investment opportunity. Situated on a double corner lot at the intersection of 37th and 38th Streets and 5th Avenue, this property boasts a prominent location in the heart of Midtown Manhattan. Built in 1990, the building is zoned C5-3, MID, offering significant development potential. The substantial lot size of 28,638 square feet (197.5 ft x 145 ft, Block & Lot 00839-7501) provides ample space and flexibility. Annual property taxes are $530,628, and the annual CAM charges are $300,000. This prestigious address offers unparalleled visibility and accessibility, making it an ideal location for a variety of businesses. The property's size and prime location make it a highly desirable asset in a competitive market. Serious inquiries only. This is a rare opportunity to acquire a significant commercial property in one of the world's most sought-after business districts. The building's substantial square footage and flexible zoning provide a multitude of potential uses and redevelopment options. Don't miss this chance to own a piece of New York City's iconic skyline.

    Property Features for 420 5Th Ave

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    18,000 SF

    Building Details

    Year Built
    1990

    HighLights

    • Block & Lot 00839‑7501
    • C5‑3, MID Zoning
    • 28,638 SF Lot (197.5 ft x 145 ft)
    • Double Corner Lot at 37th & 38th Streets and 5th Avenue
    • 1990 Year Built
    • $300,000 Annual CAM Charges
    Property Profile Location Intelligence

    Current Use by Public Records

    Hatch Store Berkshire Accessories Importer VXN WORKOUT NYC Physical Fitness Program World Foundation for Girl ... Association / Organization UPS Access Point ... Shipping And Mailing Service

    Suggested Use

    Restaurant Realty agency Spa & Massage Hair Salon Dental Office Nail Salon Food Market Grocery Store Daycare Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9833243
    Latitude
    40.7508592

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    FAQs

    What type of property is this?
    Office Property / Space - 18,000 SF Executive Office Space for Sale
    Where is this office property / space located?
    The property is located at 420 5Th Ave New York, NY.
    What are key features of this property?
    This property features: Block & Lot 00839-7501; C5-3, MID Zoning; 28,638 SF Lot (197.5 ft x 145 ft)
    Request Owner's contact information
    420 5Th Ave New York, NY 10018
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    420 5Th Ave New York, NY 10018
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