31-33 West 54th Street 31 W 54th St

Newmark has been retained on an exclusive basis to arrange for the sale of 31-33 West 54th Street, two recently renovated and
exceptionally located mixed-use assets on the north side of West 54th Street between Fifth and Sixth Avenues in Midtown, Manhattan. The properties span ~13,839 SF above grade with an additional ~2,740 SF below grade.
The two, contiguous elevator properties offer retail space on the first two floors and office on the three floors above. Only two tenants
currently occupy the asset leaving 69% of the NRA vacant. All five floors have been recently renovated and feature brand new carpeting,
wood flooring, appliances and windows. Of the two tenants currently occupying the space, Mozzarella & Vino, has consistently capitalized on the steady foot-traffic generated by the MoMa and has also recently gut renovated its space on the ground and second floor of 33 West 54th Street. The second tenant is currently occupying the third floor office space of 33 West 54th Street and is the construction company who has completed the buildings’ most recent improvements.
The vacancy status and flexible C5-P zoning allow for a wide variety of potential uses including office, residential and retail. The asset offers an additional ~18,000 square feet of available air rights prime for future expansion and significant value creation.