Commercial warehouse property in Hell’s Kitchen seeks $16.25M
JLL Capital Markets is marketing the three-story building at 456 West 55th St. in New York
NEW YORK, Mar. 25, 2021 — JLL Capital Markets announced today that it is marketing a 75-foot-wide, three-story vacant commercial warehouse building at 456 West 55th St. in New York City’s Hell’s Kitchen neighborhood for sale for $16.25 million.
The property contains approximately 21,600 gross square feet above grade, with roughly 10,030 square feet of additional air rights. It is built approximately 96-feet deep on the 100-foot lot, and lies within a C6-2 zoning district, allowing for residential, commercial and community facility uses. The property features 12.9-foot ceilings throughout and has exceptionally heavy floor loads of 120 pounds per square foot on all floors. The three 7,200-square-foot floors are connected by a pair of internal staircases with a freight elevator. The building possesses a curb cut and a loading dock with direct access to the elevator.
Located on the south side of West 55th Street between 9th and 10th avenues, the property will be delivered vacant, providing a dynamic repositioning opportunity. It stands within walking distance to major attractions such as Central Park, Columbus Circle, Lincoln Center, and the Hudson River Greenway. It is conveniently located near the A C B D & 1 subway lines, providing accessibility to all areas of the city.
The JLL Capital Markets team marketing the property on behalf of the seller is being led by Managing Directors Ethan Stanton, Hall Oster and Paul Smadbeck; Directors Harry Hochman and Luca Cobucci; Vice Presidents Conrad Martin and Teddy Galligan; and Associate Braedon Gait.
“456 West 55th St. provides an extraordinary repositioning opportunity, as major developments such as Hudson Yards and Manhattan West add tremendous value to neighborhoods on the West Side,” Stanton said. “The property has flexible zoning and offers a host of possibilities as the West Side continues to evolve.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion, operations in over 80 countries and a global workforce of more than 91,000 as of December 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.