129 West 29th Street

Exclusive Sale Retention: BKREA is exclusively retained to arrange the sale of 129 West 29th Street, a notable 12-story commercial office building. Location Details: Located on the north side of West 29th Street, between Sixth and Seventh Avenues. Situated in Midtown, near major transport hubs such as Penn Station and Moynihan Train Hall. Close to popular destinations like Madison Square Garden, the Empire State Building, Madison Square Park, and several dining, retail, and entertainment options. Site Specifications: Built in 1911, the building has 96,750 RSF with approximately 74.08 feet of frontage. Ground floor features a vacant retail space; the upper 11 floors house 14 commercial spaces, 5 of which are currently occupied. Development Plans: Current tenant, 1 Life Healthcare Inc. (One Medical), occupies the 9th and 10th floors. Ownership is open to leasing back floors 3, 4, 5, and 12 (33,000 RSF) on a 10-year term. Weighted Average Lease Term (WALT) is approximately 5.52 years. Neighborhood Demand Drivers: Midtown location with strong demand due to high accessibility and nearby amenities. Walking distance to several subway lines, providing connectivity across Manhattan and beyond. Surrounded by dining venues, rooftop bars, shops, and popular attractions. Opportunity Highlights: Ideal for office investors seeking a value-add opportunity by renovating and leasing the vacant space. Suitable for an owner-user to occupy up to 30,150 RSF. Location and accessibility make this property an attractive investment for potential cash flow growth from additional tenants.Exclusive Sale Retention: BKREA is exclusively retained to arrange the sale of 129 West 29th Street, a notable 12-story commercial office building. Location Details: Located on the north side of West 29th Street, between Sixth and Seventh Avenues. Situated in Midtown, near major transport hubs such as Penn Station and Moynihan Train Hall. Close to popular destinations like Madison Square Garden, the Empire State Building, Madison Square Park, and several dining, retail, and entertainment options. Site Specifications: Built in 1911, the building has 96,750 RSF with approximately 74.08 feet of frontage. Ground floor features a vacant retail space; the upper 11 floors house 14 commercial spaces, 5 of which are currently occupied. Development Plans: Current tenant, 1 Life Healthcare Inc. (One Medical), occupies the 9th and 10th floors. Ownership is open to leasing back floors 3, 4, 5, and 12 (33,000 RSF) on a 10-year term. Weighted Average Lease Term (WALT) is approximately 5.52 years. Neighborhood Demand Drivers: Midtown location with strong demand due to high accessibility and nearby amenities. Walking distance to several subway lines, providing connectivity across Manhattan and beyond. Surrounded by dining venues, rooftop bars, shops, and popular attractions. Opportunity Highlights: Ideal for office investors seeking a value-add opportunity by renovating and leasing the vacant space. Suitable for an owner-user to occupy up to 30,150 RSF. Location and accessibility make this property an attractive investment for potential cash flow growth from additional tenants.