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Unit Size: 6,758 SF
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Condo Use: Medical Office
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Price: $4,358,910 USD
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Sale Type: Investment or Owner User
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Price/SF: $645.00 USD
Description
Rudder Property Group is pleased to offer for sale a full-floor, income-producing office condominium at 35 West 36th Street in the heart of Herald Square.
Building Overview:
35 West 36th Street is a 12-story, 80,000 RSF office condominium featuring 20 units. Originally constructed in 1911, the building was converted to office condominiums in 2020 and was promptly sold out—with the exception of the 10th floor. The last remaining unit is owned by the building’s sponsor and is leased to a well-capitalized apparel and logistics tenant.
Tenant & Buildout:
The 10th floor is fully occupied by The Apparel Group, a global apparel and logistics firm headquartered in Texas and China. The tenant’s lease commenced in September 2017, and they recently renewed their lease for an additional three years through May 2028.
The office features a high-end buildout, including:
• Exposed brick walls
• High ceilings providing an open and airy feel
• Hardwood floors for a premium, polished look
Investment Terms & Lease Details:
35 West 36th Street, Entire 10th Floor
Size: 6,758 RSF
Tenant: The Apparel Group
Lease Expiration: May 2028
Annual Rent: $396,336
Annual Common Charges: $47,652
Annual Real Estate Taxes: $43,352
Net Operating Income: $305,332
In Place Cap Rate: 7%
Price: $4,358,910
Building & Location Highlights:
• Prime Herald Square location between Fifth and Sixth Avenues.
• Other unit owners include doctors, media firms and apparel companies.
• Situated along the highly active 36th Street leasing corridor, known for strong demand from businesses in fashion, media, and tech.
• This is a rare opportunity to acquire a fully leased, cash-flowing office condominium in one of Manhattan’s most sought-after commercial districts.
Please contact us to learn more about the opportunity or to schedule a tour.
Sale Notes
Rudder Property Group is pleased to offer for sale a full-floor, income-producing office condominium at 35 West 36th Street in the heart of Herald Square.
Building Overview:
35 West 36th Street is a 12-story, 80,000 RSF office condominium featuring 20 units. Originally constructed in 1911, the building was converted to office condominiums in 2020 and was promptly sold out—with the exception of the 10th floor. The last remaining unit is owned by the building’s sponsor and is leased to a well-capitalized apparel and logistics tenant.
Tenant & Buildout:
The 10th floor is fully occupied by The Apparel Group, a global apparel and logistics firm headquartered in Texas and China. The tenant’s lease commenced in September 2017, and they recently renewed their lease for an additional three years through May 2028.
The office features a high-end buildout, including:
• Exposed brick walls
• High ceilings providing an open and airy feel
• Hardwood floors for a premium, polished look
Investment Terms & Lease Details:
35 West 36th Street, Entire 10th Floor
Size: 6,758 RSF
Tenant: The Apparel Group
Lease Expiration: May 2028
Annual Rent: $396,336
Annual Common Charges: $47,652
Annual Real Estate Taxes: $43,352
Net Operating Income: $305,332
In Place Cap Rate: 7%
Price: $4,358,910
Building & Location Highlights:
• Prime Herald Square location between Fifth and Sixth Avenues.
• Other unit owners include doctors, media firms and apparel companies.
• Situated along the highly active 36th Street leasing corridor, known for strong demand from businesses in fashion, media, and tech.
• This is a rare opportunity to acquire a fully leased, cash-flowing office condominium in one of Manhattan’s most sought-after commercial districts.
Please contact us to learn more about the opportunity or to schedule a tour.
Justin Harris
Rudder Property Group
