Representing both buyer and seller, Zelner adds 18,000 rentable square feet at 420 Fifth Avenue to the Hudson Valley-based school’s campus
Brett Zelner, Executive Managing Director/Principal of Lee & Associates NYC has arranged the office condominium sale of the 18,000-rentable-square-foot, 14th floor at 420 Fifth Avenue for $18.4 million to Marist College. The space will serve as an alumni and information center in New York City. Adult graduate programs and executive offices will also be housed here.
The Class-A commercial condominium building, at the corner of Fifth Avenue and East 38th Street near Bryant Park, is located in the heart of Midtown’s commuter triangle of Grand Central Terminal, Penn Station and the Port Authority. Surrounding retailers and restaurants include Ai Fiori, Sarabeth’s, Lord & Taylor and Drybar Bryant Park.
“This will be an amazingly convenient Manhattan outpost for Marist, a renowned educational institution,” says Mr. Zelner. “It will serve as a gathering place for the school’s large alumni and graduate student contingent in the city.”
Marist College will take occupancy of the new space in December of 2018. The seller was A.M. Property Holding Corp.
About Lee & Associates NYC
The New York office of Lee & Associates, and its affiliated company Sierra Real Estate LLC, provides a full array of corporate advisory and commercial real estate services, including office and retail brokerage, sales and investments, and project and property management. Together, the firms have more than 85 real estate professionals in its 600 Madison Avenue headquarters office. Additional information is available at www.leeassociatesnyc.com
About Lee & Associates
Lee & Associates is a commercial real estate brokerage, management and appraisal services firm. Established in 1979, Lee & Associates has grown its service platform to include offices in the United States and Canada. Lee & Associates provides superior market intelligence in office, industrial, retail, investment and appraisal to meet the specialized needs of our clients.For the latest news from Lee & Associates, visit lee-associates.com or follow us on Facebook, LinkedIn, Twitter and Link our company blog.
