The Property is a 14-story, pre-war office and retail building, located on the south side of West 38th Street between Seventh and Eighth Avenues.
Floorplates range in size from 7,058 rentable square feet on the top floor to 9,133 feet on floors 3-10. The ground floor retail space fronting West 38th Street totals 11,600 square feet with an additional 5,770 square feet of storage space in the basement. Floors 5, 8, 10, 12 and 14, comprising 42,277 rentable square feet, are vacant and undergoing renovation to attract Class-B office users. The 7th floor tenant is on a month-to-month lease, allowing new ownership to vacate an additional 9,133 rentable square feet. Half of the 13th floor, 3,715 rentable square feet, was vacated to allow for the possibility of connecting the top three floors.
Office floors have good light and air on both the front and back of the building due to large, operable windows and a wide rear setback. Each floor is served by four elevators, two passenger and two freight. Ceiling heights can be up to 11 feet, depending on the tenant build-out.
The Property is undergoing extensive renovation of the fa ade, mechanicals, common areas and vacant tenant spaces. The fa ade has been refurbished with granite and the store front windows will soon be replaced. The complete overhaul of the lobby will feature double high ceilings, a waterfall and a modernized HVAC system. A new boiler was installed in 2006, elevators are being upgraded and security cameras were placed throughout the building. A majority of the windows have been replaced.