400 East 54th Street

New York, New York

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Building

Stats

Property Type Retail - Retail Condo
Building size (SF) 29,056

Overview

Avison Young has been engaged by Ownership to offer for sale three commercial condominiums at 400 East 54th Street, aka 976-982 First Avenue or The Revere (the “Property). The three condominiums are located at the base of The Revere, a 284,000 SF elevator condominium building on the southeast corner of 54th Street and First Avenue. The Revere stands 31-stories tall and is made up of 228 residential units and three commercial units. The Property benefits from 100 feet of frontage along First Avenue and 194 feet of frontage along 54th Street. The three commercial units are made up of a vacant retail space along First Avenue and an occupied medical office unit and an operating garage along 54th Street. The Property provides an irreplaceable opportunity to acquire a variety of commercial condos with major value-add

potential in the Sutton Place neighborhood of Manhattan.

Highlights

100 feet of frontage along First Avenue and 194 feet of frontage along 54th Street

Substantial value-add potential across all three commercial condominiums

Ability to terminate SP+ Parking lease to renegotiate or re-tenant at market rent

Fully built out medical office, occupied by a private practitioner until 2028

Located at the base of the Revere, a 284,000 residential condominium building

Vacant retail is ideal for end-user looking for strong street presence in a densely populated residential neighborhood

Proximity to the Lexington Avenue –53RD Street subway station servicing the E and M trains and the Lexington Avenue – 51ST Street subway station servicing the 6 train