Meridian Capital Group
Meridian Investment Sales

16 East 32nd Street

16 East 32nd Street

Located on East 32nd Street Between Fifth and Madison Avenues

Former 100-Key Avalon Hotel Offering 65.5 Feet of Frontage on East 32nd Street Between Fifth and Madison Avenues

Type Hotel
Neighborhood NoMad
Properties One
Lot Size 6,468 Square Feet
Zoning Code C5-2
Size 71,250 Gross Square Feet
Stories 12
Units 100 Keys
Air Rights Overbuilt

Investment Highlights:

Meridian Investment Sales is pleased to present the exclusive offering for the sale of 16 East 32nd Street – the former 100-key Avalon Hotel offering 65.5’ of frontage on East 32nd Street between Madison and 5th Avenues in the booming NoMad neighborhood of Manhattan. The 12-story, three-elevatored, 71,250 gross square foot asset will be delivered 100% vacant – with no management or flag, thus offering investors a blank slate. Located in the forgiving C5-2 zoning district, options include continued use as a hotel or conversion to luxury office, residential, or student housing. Assuming office conversion where rents in the neighborhood regularly achieve $60 per rentable square foot, the RSF will be roughly 85,500. Additionally, the site is ideal for users or large tenants looking to establish a flagship presence in one of New York City’s hottest neighborhoods.

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