Investment Overview

Marcus & Millichap has been exclusively retained by Ownership to sell 600 Eighth Avenue (the Property), a 12-story elevator building at the northeast corner of Eighth Avenue and West 39th Street, one block south of the Port Authority Bus Terminal and three blocks from Times Square. The Property presents investors with a value-add opportunity, with current vacancy and in-place rents below market. The Property was built in 1927 and offers ~43,972 rentable square feet across eleven office floors, two ground-floor retail tenants, and a cellar. Office floors measure ~3,500 rentable square feet each, for a total of ~38,500 rentable square feet. Office space is 68% leased, with four vacant floors totaling ~14,000 square feet. The seven occupied office units are leased below market at an average rent of $34.56 per rentable square foot, all with terms expiring within five years. Total retail frontage of ~100 square feet spans both Eighth Avenue and 39th Street. Rentable area includes ~5,472 square feet across two units, including ~1,928 square feet on the ground floor with estimated 16’5” ceiling heights, a mezzanine in the corner unit at ~1,920 square feet and ~1,624 square feet of cellar. The retail units are leased below market to Berlina Café on the corner and GNC in-line, with terms expiring in August 2028 and November 2031, respectively. The roof is leased to Verizon Wireless with current term expiring at the end of May 2030.