|Address:||192 Lexington Avenue||Class:||B|
|Cross Streets:||31st & 32nd Streets||Size:||140,000 SF|
|Year built:||1926||Architect:||Charles B. Meyers|
The architecturally significant building at the northwest corner of 32nd Street, right on the border between Midtown and Midtown South, was completed in 1926. The property is conveniently situated close to a plethora of public transportation options, and currently houses various office and retail tenants in industries like law, media, and technology.
The commercial office building at 192 Lexington Avenue was acquired by Gorjian Real Estate in 2018, for upwards of $90 million. The new owner is investing in a multi-million-dollar repositioning effort at the building to bring it to modern standards and attract new tenants.
140 KSF of Class B Midtown South Office Space
The 17-story office building at 192 Lexington features 14,000 square feet of Class B Midtown South office space, in close proximity to Grand Central Station. Originally built in 1926, the asset underwent renovation efforts in 1953 and 2007, and includes over 5,000 square feet of retail. Current owner Gorjian Real Estate has begun a multi-million-dollar renovation effort that will upgrade 192 Lex to meet the demands of modern-day tenants. The renovation program includes a redesign of the lobby, the addition of new bathrooms and pantries, and the introduction of juliet terraces on some of the floors.
The first revamped office spaces to be made available will be full-floor, pre-built spaces ranging from 7,000 to 8,000 square feet.
Current amenities at 192 Lexington include on-site management, two passenger and two freight elevators, lockable workstations, and the presence of both a receptionist and a doorman.
Getting to and from 192 Lexington Avenue
The office building at 192 Lexington Avenue is conveniently located in close proximity to both Grand Central Station and Penn Station, connecting workers to a plethora of public transportation options. Grand Central Terminal lies just a couple of blocks away, offering access to the 4, 5, 6, and 7 subway lines, as well as MetroNorth and Amtrak train service.
Who is renting office space at 192 Lexington Avenue?
192 Lexington Avenue currently houses various office-using tenants operating in a wide range of industries, such as law, media, and technology. Notable tenants on the building’s roster include law firms Roth & Roth, Goldberg & Fliegel, and Marian Polovy Law, as well as Benson Industries, Voleo, DreamFire Interactive, Infinia Group, and the New York Institute of Art and Design. Shared space provider Broadway Suites also operates in the building.
How much is the rent price for office space at 192 Lexington Avenue?
The office building at 192 Lexington Avenue benefits from an excellent location on the border between Midtown Manhattan and Midtown South, two of the most desirable markets for office space in New York City. Office asking rents at 192 Lex tend to be roughly on par with the Midtown Manhattan average, which reached a new post-recession peak of $88 per square foot in 2019. The Grand Central Station area in particular is highly coveted for office-using tenants, as the submarket offers quality office space in proximity to public transportation lines.