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421 W 54th St - The Hit Factory

14,514 SF Office Condo Unit Offered at $15,000,000 in New York, NY 10019

Investment Highlights

  • Entire 2nd Floor - 14,514 RSF office condo renovated in 2018, located in the prestigious Hit Factory building
  • Flexible workspace layout with private offices, open work areas, conference rooms, breakout spaces, kitchen/pantry, and restrooms.
  • Prominent branding opportunities with flagpole and door-entrance signage.
  • Immaculate condition, featuring commercial sprinklers, an HVAC system, 13-foot ceiling heights and abundant natural light from windows on both street
  • Includes private lobby and elevator, with parking unit for added convenience.
  • Residential uses permitted as-of-right, allowing for a potential residential conversion.

Executive Summary

Marcus & Millichap’s Nowak Group is exclusively retained to market Unit C3, a fully renovated, turn-key office space spanning the full second floor of the prestigious Hit Factory building at 421 West 54th Street in Midtown West, Manhattan. Situated between Eighth and Ninth Avenues, this commercial condominium blends modern office functionality with the iconic setting of one of the City’s most renowned luxury residential buildings known for its history of producing legendary music. Unit C3 offers approximately 14,514 rentable square feet of prime office space, fully renovated in 2018 to deliver a contemporary and efficient work environment. The space is in immaculate condition, featuring commercial sprinklers, an HVAC system, and abundant natural light from windows lining both the street and rear sides. With impressive 13-foot ceiling heights, the unit provides a sense of openness and grandeur. The layout includes a balanced mix of private offices, open work areas, multiple conference rooms, breakout spaces, a dedicated kitchen/pantry area, and restroom facilities, offering flexibility for a range of workspace configurations. The unit also comes with parking unit P3 in the basement for added convenience. Private lobby and elevator access, as well as optional access via the building’s main lobby elevator, provides additional flexibility. Prominent branding opportunities are available with both flagpole and door-entrance signage. An as-of-right conversion of the floor to residential uses with one or more units is also permitted, adding further flexibility for investors. Located in the heart of Hell’s Kitchen/Midtown West, The Hit Factory building combines a rich history with modern amenities. Originally built in 1928 and converted into luxury condominium lofts in 2006, The Hit Factory is renowned as one of the world’s most iconic recording studios, where legendary artists like The Rolling Stones, John Lennon, and Madonna produced landmark music. Today, it stands as a prestigious address that combines modern living with its musical legacy, making it a unique and attractive space for both creative professionals and those seeking a distinctive residential conversion opportunity. Unit C3 is a turn-key solution, ideal for use by professional firms, not-for-profits, creative enterprises and medical uses. Additionally, the property presents a unique opportunity for residential conversion, allowing investors or end users to capitalize on the growing demand for mixed-use and residential configurations.

Property Facts

Price $15,000,000
Unit Size 14,514 SF
No. Units 1
Total Building Size 70,937 SF
Property Type Multifamily (Condo)
Property Subtype Apartment
Sale Type Investment or Owner User
Building Class B
Floors 6
Typical Floor Size 11,810 SF
Year Built 1928
Lot Size 0.29 AC

1 Unit Available

Unit C3 & P3

Unit Size 14,514 SF
Price $15,000,000
Price Per SF $1,033.48
Condo Use Office
Sale Type Investment or Owner User
No. Parking Spaces 1
Description

The Hit Factory presents a compelling opportunity for the conversion of Unit C3
into luxury residential units. This unique possibility allows investors to leverage the building’s iconic history and prime location in Hell’s Kitchen/Midtown West. Residents will enjoy access to a range of premium amenities, including part-time doorman service, a fitness center, private storage, a package room, and a roof deck with stunning skyline views. The building’s prime location—just minutes from Central Park, Columbus Circle, Lincoln Center, Times Square, and the Hudson River—offers an ideal combination of luxury and convenience. With easy access to multiple subway lines (A, C, E, D, B, 1, N, Q, R, W), the location ensures excellent connectivity across Manhattan and beyond.

Condo units in newly built condominium buildings in the immediate neighborhood are selling in the $1,500-$1,900 per square foot range. Unit C3’s existing layout and mechanical systems offer a significant head start, saving both time and money in a conversion scenario, making this an attractive and potentially highly profitable investment opportunity.

Sale Notes

Prime 14,514 RSF Office Space or Residential Conversion Opportunity

Reception
Office space
Open conference area
Office space
Office space

+6 More

Office space
View Photo Reception
View Photo Office space
View Photo Open conference area
View Photo Office space
View Photo Office space
View Photo Office space
View Photo Office space
View Photo Office space
View Photo Office space
View Photo Office space
View Photo Parking
Walk Score ®
Walker's Paradise (99)
Transit Score ®
Rider's Paradise (100)
Bike Score ®
Very Bikeable (89)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

Amenities

Unit Amenities

  • Air Conditioning
  • Balcony
  • Heating
  • Kitchen
  • Oven
  • Stainless Steel Appliances
  • Tub/Shower
  • Pantry

Site Amenities

  • 24 Hour Access
  • Fitness Center
  • Roof Terrace
  • Storage Space
  • Elevator

zoning

Zoning Code C6-2
C6-2
  • Listing ID: 34143585

  • Date on Market: 12/10/2024

  • Last Updated:

  • Address: 421 W 54th St, New York, NY 10019

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