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Avison Young arranges sale of office building at 14 East 52nd Street

Avison Young arranges sale of office building at 14 East 52nd Street October 19, 2023

Inmoprisa USA, INC.-owned property sold for $19.5 million

New York, NY Avison Young has arranged the sale of a 17,000-square-foot office building at 14 East 52nd Street on behalf of Inmoprisa USA, INC. for $19.5 million. The building’s former occupant, Pronovias, a high-end wedding dress company, vacated the property in 2020. The property sold to developer Ramirez & Co., who seeks to reposition the building for their use.

Inmoprisa USA, INC. was represented by James Nelson, Principal and Head of Tri-State Investment Sales; Eric Karmitz, Director; Brent Glodowski, Director; and Alexandra Marolda, Associate Director, all located in Avison Young’s New York City office. Jeff Berman of Berkshire Hathaway represented Ramirez & Co.

“This property is tailor-made to fit an owner/occupier and were extremely encouraged to see a substantial number of interested investors/developers and ultimately transacting at a premium sale price,” said Karmitz. “Additionally, Manhattan retail and office has seen a significant transformation, with owner/occupiers actively buying real estate for their personal business – with this transaction being a perfect example of that.”

The property is 30 feet wide and contains seven floors. The previous occupant utilized the full building as their showroom and office headquarters and underwent a substantial gut renovation in 2006-2007. Future development can take advantage of an additional 19,000-sf of unused air rights.

Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.

Avison Young is a 2023 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 12 consecutive years.

For more information:

  • Download property photo here.

Media contact:

  • Nathan Reyna, Regional Media Relations & Content Specialist, Northeast: +1.917.877.1697