The 12-story former Avalon Hotel in NoMad is currently on the market for potential buyers. Located at 16 East 32nd Street, between Fifth and Madison Avenues, this property presents a prime opportunity for investors as it will be delivered vacant with no management or flag attached.
Spanning over 71,250 gross square feet and featuring an impressive frontage of 65.5 feet on bustling 32nd Street, this property boasts a total of100 keys and three elevators. With an average weighted room size of400 square feet,the C5-2 zoning district offers flexibility for various uses such as hotel accommodations,luxury office space,residential units or student housing.
Leading the transaction is Meridian Investment Sales,a division of Meridian Capital Group.Their team consistingof David Schechtman,Lipa Lieberman,and Abie Kassin,is representing the seller in this highly sought-after sale opportunity.
