120 E 32ND ST New York NY 10016-5502

Avison Young, as the exclusive agent, is pleased to offer for sale 120 East 32nd Street, a 9,797 rentable square foot commercial building located in Manhattan's Midtown South neighborhood.​

The property is fully leased on a triple-net (NNN) basis to a city-funded non-profit operating a Drop-In-Center.​ The tenant operates a 24-hour multi-service facility providing housing assistance, emergency shelter, and medical care to at-risk adults in the Midtown Manhattan.​ The organization has operated from this location for over 20 years (since 2004).​ Located in the highly desirable Midtown South submarket, the building offers an investor a passive, stabilized asset in a neighborhood known for its strong medical, educational, and residential density.​ The Midtown South location provides excellent connectivity and access to a diverse demographic of professionals and local residents.​

• ​Commercial property leased on 100% NNN basis.
• ​Tenant is a city-funded non-profit operating a drop-in-center.
• ​The current term runs through June 2028, with one additional option to extend through June 2032.
• ​Current tenant has been in occupancy for over 20 years.
• ​9,797 total rentable square foot commercial building.
• ​Positioned within the dynamic Midtown South neighborhood.

B6 Real Estate Advisors has been retained on an exclusive basis to arrange for the sale of 120 East 32nd Street (the "Property"). The Property is a commercial asset in the heart of Midtown Manhattan that is net- leased to a well-established non-profit providing community benefit services. The property is located between Park & Lexington Avenues in the Rose Hill / Kips Bay neighborhood in Midtown South Manhattan.

• Prime commercial investment property offered at 10.75% cap rate.

• Apprx. 8,000 GSF.

• Net-leased to city-funded community benefit organization / non-profit.

• Significant in-place NOI.

• 20-Year+ Tenant History.

• Premium Midtown South Location: Rose Hill, Kips Bay, NoMad, Koreatown.

• Between Park & Lexington Avenue, adjacent Korean Cultural Center, 5-Star Hotels, Empire State Building & Public Transit.