240 WEST 40TH STREET
240 West 40th Street New York, NY 10018
- 158,632 Square Feet
- For Sale
A 13-story, 158,632 SF office building located between Seventh and Eighth Avenues. 100% leased to DKNY through July 2020, and four ground-floor retail tenants. Penn Plaza/Garment District submarket.
Property Status: Available
Building Size: 158632 Square Feet
Area Available: 158,632 Square Feet
- A 13-story, 158,632-square-foot office building situated between Seventh and Eighth Avenues. 12-foot+ ceilings, protected northern exposure and usable outdoor space with signage.
- Rare, Single-tenant office building, 100% leased to Donna Karan New York (“DKNY”) through July 2020.
- If DKNY opts not to remain at the property, or a new owner decides not to retain DKNY’s tenancy in 2020, there is a unique opportunity to undertake a complete re-imagining of the property with multiple exit strategies, including creative office space
- Four ground-floor retail tenants.
- Steps from Port Authority and under a 15-minute walk to Penn Station and Grand Central Terminal, nearly every subway line and commuter rail is easily accessible.
- Mark-to-market upside of nearly $1 million, of which $700,000 occurs in the first 18 months, as the four retail tenants are 48% below market.