W 45th St, Times Square, Fully Built Office Space For Lease 4,100 SF
Unit 4,100 SF
Unit 4,100 SF
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W 45th St has acquired a 66,000-square-foot office building in Midtown Manhattan for $50 million, anticipating a significant increase in rental income as current leases near expiration.
The property, a 17-story building at West 45th Street, was sold by Valeray Real Estate Company. 60% of the building’s space is expected to become vacant within the next three years, presenting an opportunity for the new owners to raise rents.
At present, rental rates in the building average in the high $30s per square foot. Industry experts believe that rents could climb to the $50-$60 per square foot range, given the building’s location and demand.
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Times Square sits in the hearts of Midtown Manhattan and it is well connected with other parts of the city. Subway lines B, D, E and F can swiftly let you travel whenever you want. Public bus lines are also available – lines M1, M2, M3 and M4 go all along the neighboring 5th Avenue.
You can likewise cycle and stroll by foot on the off chance that you are in the region as there are numerous people on foot walk territories here.
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