Massey Knakal Realty Services has been retained on an exclusive basis to arrange for the sale of 220 Park Avenue South (AKA 48 East 18th Street) just one block from Union Square Park. This corner, 9 story plus penthouse, elevatored loft building represents a tremendous opportunity for a condominium conversion or to hold as a rental, as the asset is currently completely occupied with a waiting list for apartments. The property also benefits from prime retail frontage on Park Avenue South, with the well known Japanese restaurant Haru, owned by Benihana, Inc., in possession.
Retail vacancy along this highly coveted stretch of Park Avenue South, just one block from Union Square Park remains highly desirable. The impressive façade of the building was constructed out of limestone, brick and cast-iron and features oversized windows throughout.
The availability of investment opportunities of this quality, location, and size are growing increasingly rare. Investors not participating in the downtown market would be missing a tremendous opportunity.
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Neighborhoods: Union Square/ Agents: John Ciraulo