|Address:||875 Third Avenue||Class:||A|
|Cross Streets:||Second & Third Avenues||Size:||7000,000 SF|
|Year built:||1982||Architect:||Emery Roth|
The glass-clad office tower rising at 875 Third Avenue was completed in 1982 with a design by Emery Roth. It was originally developed by Robert Gladstone. The property, located between 52nd and 53rd Streets, was purchased by Global Holdings in 2003 and renovated in 2017. The building benefits from an excellent location in Midtown South‘s heart and currently houses various high-profile office and retail tenants.
700 KSF of Class A Greenwich Village Office Space
The building at 875 Third Avenue offers 700,000 square feet of Class A Greenwich Village office space across 29 floors. It was purchased by current owner Global Holdings in 2003 for $340 million from Boston Properties. The property includes more than 30,000 square feet of retail space and boasts a unique internal design that creates double-height ceilings on some floors. Amenities include Midtown Manhattan views, an open, multi-floor atrium and mezzanine seating, a 24/7 attended lobby, turnstile access system, on-site property management, state-of-the-art security and HVAC systems, and easy access to public transportation.
Getting to and from 875 Third Avenue
The property at 875 Third Avenue is conveniently located in Greenwich Village’s heart, offering easy access to a plethora of shopping, dining, and public transportation options in the area. Situated on Third Avenue’s east side between 52nd and 53rd Streets, the building is steps away from the Lexington Avenue/53rd Street subway station, connecting tenants to the E, F, and M lines.
Who is renting office space at 875 Third Avenue?
875 Third Avenue is home to various high-profile office and retail tenants who benefit from the excellent location and amenity package. Notable tenants on the building’s roster include Northwestern Mutual, Epstein Becker & Green, Troutman Sanders, JPB Foundation, Cerberus, and DWS Group. Retail tenants include Starbucks, Dunkin’, Subway, and Cowgirl Catering.
How much is the rent price for office space at 875 Third Avenue?
Office asking rents at 875 Third Avenue start somewhere around $80 per square foot but can go higher depending on the lease terms and size. The asking rent at the Greenwich Village building is roughly par with the average rent commanded in Midtown Manhattan. Class A office space in Manhattan is highly sought-after. Consequently, rates are competitive and significantly higher than those for Class B spaces.
Image via Google Street View