35 W 36th St 6,758 SF Office/Medical Condo Unit Offered at $4,358,910 in New York, NY 10018

INVESTMENT HIGHLIGHTS

  • Located near bus routes
  • Directly off of 6th Avenue

EXECUTIVE SUMMARY

Rudder Property Group is pleased to offer for sale a full-floor, income-producing office condominium at 35 West 36th Street in the heart of Herald Square. Building Overview: 35 West 36th Street is a 12-story, 80,000 RSF office condominium featuring 20 units. Originally constructed in 1911, the building was converted to office condominiums in 2020 and was promptly sold out—with the exception of the 10th floor. The last remaining unit is owned by the building’s sponsor and is leased to a well-capitalized apparel and logistics tenant. Tenant & Buildout: The 10th floor is fully occupied by The Apparel Group, a global apparel and logistics firm headquartered in Texas and China. The tenant’s lease commenced in September 2017, and they recently renewed their lease for an additional three years through May 2028. The office features a high-end buildout, including: • Exposed brick walls • High ceilings providing an open and airy feel • Hardwood floors for a premium, polished look Investment Terms & Lease Details: 35 West 36th Street, Entire 10th Floor Size: 6,758 RSF Tenant: The Apparel Group Lease Expiration: May 2028 Annual Rent: $396,336 Annual Common Charges: $57,443 Annual Real Estate Taxes: $43,352 Net Operating Income: $295,541 In Place Cap Rate: 8% Price: $3,716,900 Building & Location Highlights: • Prime Herald Square location between Fifth and Sixth Avenues. • Other unit owners include doctors, media firms and apparel companies. • Situated along the highly active 36th Street leasing corridor, known for strong demand from businesses in fashion, media, and tech. • This is a rare opportunity to acquire a fully leased, cash-flowing office condominium in one of Manhattan’s most sought-after commercial districts. Please contact us to learn more about the opportunity or to schedule a tour.

PROPERTY FACTS

Price $4,358,910
Unit Size 6,758 SF
No. Units 1
Total Building Size 81,000 SF
Property Type Office (Condo)
Property Subtype Loft/Creative Space
Sale Type Investment or Owner User
Building Class B
Floors 12
Typical Floor Size 6,750 SF
Year Built 1911
Lot Size 0.14 AC
Zoning M1-6 Manhattan (O2) - Light Manufacturing Zoning

AMENITIES

  • Bus Line
  • Controlled Access
  • Metro/Subway
  • Security System

1 UNIT AVAILABLE

Unit Entire

Unit Size 6,758 SF
Price $4,358,910
Price Per SF $645.00
Condo Use Office/Medical
Sale Type Investment or Owner User
DESCRIPTION

Rudder Property Group is pleased to offer for sale a full-floor, income-producing office condominium at 35 West 36th Street in the heart of Herald Square.

Building Overview:
35 West 36th Street is a 12-story, 80,000 RSF office condominium featuring 20 units. Originally constructed in 1911, the building was converted to office condominiums in 2020 and was promptly sold out—with the exception of the 10th floor. The last remaining unit is owned by the building’s sponsor and is leased to a well-capitalized apparel and logistics tenant.

Tenant & Buildout:
The 10th floor is fully occupied by The Apparel Group, a global apparel and logistics firm headquartered in Texas and China. The tenant’s lease commenced in September 2017, and they recently renewed their lease for an additional three years through May 2028.

The office features a high-end buildout, including:

  • Exposed brick walls
  • High ceilings providing an open and airy feel
  • Hardwood floors for a premium, polished look

    Investment Terms & Lease Details:
    35 West 36th Street, Entire 10th Floor
    Size: 6,758 RSF
    Tenant: The Apparel Group
    Lease Expiration: May 2028
    Annual Rent: $396,336
    Annual Common Charges: $47,652
    Annual Real Estate Taxes: $43,352
    Net Operating Income: $305,332
    In Place Cap Rate: 7%
    Price: $4,358,910


    Building & Location Highlights:
  • Prime Herald Square location between Fifth and Sixth Avenues.
  • Other unit owners include doctors, media firms and apparel companies.
  • Situated along the highly active 36th Street leasing corridor, known for strong demand from businesses in fashion, media, and tech.
    This is a rare opportunity to acquire a fully leased, cash-flowing office condominium in one of Manhattan’s most sought-after commercial districts.
    Please contact us to learn more about the opportunity or to schedule a tour.

SALE NOTES

Rudder Property Group is pleased to offer for sale a full-floor, income-producing office condominium at 35 West 36th Street in the heart of Herald Square.

Building Overview:
35 West 36th Street is a 12-story, 80,000 RSF office condominium featuring 20 units. Originally constructed in 1911, the building was converted to office condominiums in 2020 and was promptly sold out—with the exception of the 10th floor. The last remaining unit is owned by the building’s sponsor and is leased to a well-capitalized apparel and logistics tenant.

Tenant & Buildout:
The 10th floor is fully occupied by The Apparel Group, a global apparel and logistics firm headquartered in Texas and China. The tenant’s lease commenced in September 2017, and they recently renewed their lease for an additional three years through May 2028.

The office features a high-end buildout, including:

  • Exposed brick walls
  • High ceilings providing an open and airy feel
  • Hardwood floors for a premium, polished look

    Investment Terms & Lease Details:
    35 West 36th Street, Entire 10th Floor
    Size: 6,758 RSF
    Tenant: The Apparel Group
    Lease Expiration: May 2028
    Annual Rent: $396,336
    Annual Common Charges: $47,652
    Annual Real Estate Taxes: $43,352
    Net Operating Income: $305,332
    In Place Cap Rate: 7%
    Price: $4,358,910




    Building & Location Highlights:
  • Prime Herald Square location between Fifth and Sixth Avenues.
  • Other unit owners include doctors, media firms and apparel companies.
  • Situated along the highly active 36th Street leasing corridor, known for strong demand from businesses in fashion, media, and tech.
    This is a rare opportunity to acquire a fully leased, cash-flowing office condominium in one of Manhattan’s most sought-after commercial districts.
    Please contact us to learn more about the opportunity or to schedule a tour.

Floor Plan
View Photo Floor Plan
Walk Score®
Walker's Paradise (99)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (85)
  • Listing ID: 32570750

  • Date on Market: 7/24/2024

  • Last Updated:

  • Address: 35 W 36th St, New York, NY 10018