Avison Young, on behalf of owner Holy Spirit Association (HSA), is offering a prime office property for sale at 4 W. 43rd St. in Midtown Manhattan, just off Fifth Avenue. This highly sought-after location boasts a total area of 72,568 square feet with the potential for both residential and commercial development opportunities – including a ZFA of 125,530 square feet for residential use and an additional 150,636 square feet designated for commercial purposes.
Representing HSA in this transaction are James Nelson, Alexandra Marolda, Brandon Polakoff,
Charles Kingsley,Eric Karmitz,and Kyle Sabath from Avison Young’s Tri-State Investment Sales team based out of their New York City office.Gaurav Khanna and Val-Add RE Partners have been enlisted as owner representatives to manage the process on behalf of HSA.Their combined expertise will be utilized to market this property towards potential multifamily developers as well as commercial end-users.
According to Nelson,”The changing landscape caused by COVID has resulted in increased interest in residential developments within the Bryant Park area,such as that seen with pre-completion sellouts exceeding expectations at properties like520 Fifth Ave.”
