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

Mid-Block Offices Trade with Repositioning Potential

ABS Partners Real Estate arranged the $37.25-million sale of 62 W. 45th St., a 12-story, mid-block Class B office building that had been privately owned for nearly 40 years. The firm’s Alan S. Cohen, Jay Caseley, Steven Hornstock and Alex Warner represented seller, 62 West 45th Street Associates LLC. The buyer wasn’t disclosed.

“In a market where there is still a dearth of building sales, we were delighted to have played an integral role in this transaction,” said Cohen. “This building is perfect for small to mid-size companies looking for a full-floor presence in Midtown, for which we’ve seen a tremendous uptick in demand.”

The 55,800-square-foot building is suitable for repositioning as a boutique office space, and there are 4,741 square feet of development rights available on the lot. “We look forward to working with the new ownership on leasing the upcoming available floors,” said Caseley.

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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 13-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 15-20 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 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).

  • ◦Sale/Acquisition