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New York & Tri-State  + Midtown New York  + Office  | 

Avison Young Team Lists Midtown Offices as Development Opportunity

Avison Young has listed an office property at 4 W. 43rd St. off Fifth Avenue in Midtown Manhattan on behalf of owner Holy Spirit Association (HSA). The 72,568-square-foot property includes a ZFA of 125,530-square feet for residential development and 150,636 square feet for commercial development. There is a path to fully vacating the property, making it a considerable development opportunity.

HSA is being represented by James Nelson, Alexandra Marolda, Brandon Polakoff, Charles Kingsley, Eric Karmitz and Kyle Sabath of Avison Young’s Tri-State Investment Sales team, located in the firm’s New York City office. Gaurav Khanna and Val-Add RE Partners are advising and managing the process as owner representatives on behalf of HSA. The team will market the property towards multifamily developers and commercial end-users.

“Since COVID changed the office landscape in NYC, the Bryant Park area has seen an increase in residential development like 520 Fifth Ave. whose pre-completion sellouts are exceeding expectations,” said Nelson.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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