Two Midtown office buildings ripe for conversion come online

TRD New York /
Jun.June 15, 2012 01:00 PM

Marcus & Millichap has nabbed exclusive marketing rights for two 12-story office properties on 33rd Street, GlobeSt.com reported. The buildings, located at 10 East 33rd and 12 East 33rd between Madison and Fifth avenues, total 56,274 square feet and have a combined asking price of $35 million. They can also be converted for residential or hotel use.

“They are currently 100 percent leased to a diverse group of tenants at below-market rates,” said Brian Hosey a Marcus & Millichap associate who’s marketing the properties, “but one or both of them could be converted into condominiums, high-end apartments or a boutique hotel.”

Public records show the name of the owner is Adee Associates.

The properties are comprised of 22 full-floor office lofts, as well as 4,000 square feet of ground-level retail space. Within the last year both buildings have received new lobbies and elevators, according to GlobeSt.com. [GlobeSt]


Related Articles

arrow_forward_ios
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

WeWork’s side businesses are fizzling

Normandy Founder Finn Wentworth, Columbia CEO E. Nelson Mills, 799 Broadway and 250 Church Street (Credit: Google Maps)

Columbia acquiring Normandy for $100M in New York real estate’s latest megamerger

WeWork abandons Seattle co-living plan, Barneys bidding begins: Daily digest

Alex Sapir’s massive Opportunity Zone site in Miami hits the market

Michael Cohen and Donald Trump (Credit: Getty Images, iStock)

Trump exaggerated building values to get financing, tax documents show

Brokerage firms are strategizing ways to make up losses after the cost of application fees was capped at $20. (Credit: iStock)

Brokerages on rental application fee cap: “It hurts”

arrow_forward_ios