721 THIRD AVENUE - TRIPLE NET LEASE

Andy H. Kim
Licensed Associate Broker
Phone: 212.252.8772 Ext. 4711
Mobile: 917.968.1365
James Kang
Licensed Real Estate Salesperson as "Siwan Kang"
Phone: 212-252-8772
Mobile: 718-644-2212
Olesia Goncharova
Licensed Real Estate Salesperson
Mobile: 718.288.8022
415 Madison Avenue New York, NY 10017
Phone: 212-252-8772
Fax: 212-252-9347
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EXCLUSIVE

Location

721 3rd Ave
New York NY 10017

Property

Type: Retail
Area: 3600 sq ft
Lot Size: 900 sq ft

Financials

Rent $50,000

Description

Nest Seekers International has been retained on an exclusive basis to arrange the rental of 721 Third Avenue building in Turtle Bay - TRIPLE NET LEASE.

721 3rd Avenue superiorly benefits from having double exposures towards 3rd Avenue and specifically over 40 feet of southern frontage (ideal for advertisement) directly in the eye of oncoming automotive traffic that goes north. Set over 4 stories with more than 3,500 square feet with additional basement storage, this triple net lease will capture not only the current existing one quarter of a million jobs within the area but also the increase in population and traffic due to the absorption of the new residential and commercial developments.

Building Details:

Building class: Predominant Retail with Other Uses (K4)
Building sqft: 3,600
Building dimensions: 20 ft x 45 ft
Year Built: 1910; Stories: 4; Tax class: 4; zoning: C5-3, MID

Building Use:

Residential sqft: 900
Commercial units: 2
Office sqft: 900
Retail sqft: 1,800

Building FAR:

Residential FAR: 10
Commercial FAR: 15
Facility FAR: 15
FAR as built: 4.00
Allowed usable floor area: 13,500
Usable floor area as built: 3,600
Unused FAR: 9,900

Neighborhood Highlights:

721 3rd Avenue is ideally situated on the northeast corner of 3rd Avenue and 45th Street in Midtown East on 3rd Avenue which acts as the gateway that connects Midtown East by northern traffic flow to the Upper East Side, Long Island and Long Island City/Queens via Midtown Tunnel and Queensboro Bridge, FDR Highway and downtown Manhattan.
As one of the most important commercial office centers in New York City with over 70 million square feet of office space, it serves as the center point that is equidistant to its densely business and commercial counterpart in Midtown, the residential alcoves of Sutton Place and Turtle Bay and the headquarters of the United Nations.
Residents within a 5-block radius in all directions include, to name a few, the world-renowned Chrysler Building, MetLife Building, United Nations Headquarters, JP Morgan Chase Headquarters, Grand Central Terminal, W New York Hotel, Hilton Hotels and Turtle Bay and Sutton Place residential areas. In proximity within the past two years, there has been 6+ new commercial and residential high-rise developments as well as an area rezoning that will allow for new construction of approximately 6.5 million square feet of office space.
721 3rd Avenue has a convenience and walking score of 9.2/10 as it benefits from both easy access to and from its location.
Within walking distance lies Grand Central Terminal which has the most railroad platforms in the entire world, the 4/5/6/7 subway lines that connect Midtown East to Midtown West, downtown and Queens, and the Financial District to the Upper East Side. In addition, the E/M subway lines connect Midtown East to Midtown West with additional services to the Financial District throughout the entire West Side and center of Manhattan as both subway lines travel downtown and to Brooklyn.

Neighborhood

More listings: Midtown East

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.