129 West 56th Street

Avison Young has been exclusively engaged by Ownership to offer for sale 129 West 56th Street (the ‘Property’), a five-story mixed-use walk-up building, including an English basement, situated in the heart of Midtown Manhattan. Located mid-block between 6th and 7th Avenues, the 10,120 square foot building comprises one retail space on the first floor and lower level, with eight residential units above on floors two through five. Currently, the retail space is leased to the popular Kin Ramen restaurant until 2025. The majority of the residential units are free market (75%), and the fully occupied property offers investors the opportunity to acquire a cash-flowing asset in a prime Midtown location. There is also the potential to execute a light-value add strategy on the free-market units, as well as cosmetic corridor upgrades to increase rents and take advantage of the unprecedented rental growth Manhattan has experienced over the last few years.