Sunday July 14, 2024

Garment District Building for Sale

Hudson Yards, Penn Station

LISTING DETAILS FOR Garment District Building for Sale

Unit Size 29628 SQ. FT
Type Sale
Price CALL FOR PRICING

DESCRIPTION

Garment District Building for Sale or Lease at 350 West 38th Street today in Manhattan’s offers a prime commercial property with six floors of versatile space, encompassing a total of 29,628 gross square feet. This six-story building, located between Eighth and Ninth Avenues, is designed to cater to a variety of business needs, featuring fully vented kitchens, ample cold storage options, office spaces, and light industrial areas. With oversized windows, the property benefits from exceptional natural light and ventilation, enhancing the working environment across all floors. The freight elevator, which opens directly to the sidewalk on West 38th Street, ensures easy access to each floor, making logistics and operations seamless.

The building’s zoning, C6-4M/GC, allows for a wide range of uses, presenting an excellent opportunity for developers considering conversion to residential or hospitality uses. With an additional 20,000 square feet of unused air rights, the potential for value-add development is significant. The property’s 50 feet of frontage along West 38th Street provides excellent visibility and accessibility, further enhancing its appeal.

350 West 38th Street is ideally situated near Hudson Yards, Times Square, and Midtown South, placing it in the heart of one of New York City’s most dynamic neighborhoods. This location is surrounded by top-tier restaurants, world-class hotels, and high-end shopping, making it a highly desirable area for businesses. The property’s proximity to major transportation hubs, including the A/C/E, 1/2/3, and N/Q/R subway lines, as well as Penn Station, ensures convenient access for employees and clients alike.

Built in 1910 and renovated in 1988, this Garment District Building for Sale has maintained its historic charm while offering modern amenities. It is currently available for purchase and for lease, at the core providing an attractive investment opportunity in a sought-after location. The building will be delivered vacant, allowing for immediate development or occupancy. With a total zoning floor area of 49,380 square feet and the potential for further expansion, 350 West 38th Street is an exceptional property that combines historic appeal with modern functionality, making it a standout option for investors and developers in Manhattan.

Space Features:

  • Six floors of commercial commissary space with vented kitchens
  • Equipped with ample cold storage and office space
  • Light industrial space available
  • Freight elevator opens directly to the sidewalk
  • 20,000 SF of unused air rights
  • Located in the vibrant Garment District
  • Close to Hudson Yards and Times Square
  • Surrounded by top restaurants, hotels, and shopping
  • Excellent public transportation access
  • High ceilings and large windows providing ample light and air
  • Attractive 50 feet of frontage on West 38th Street
  • Zoning allows for potential residential or hospitality conversion
  • Delivered vacant upon sale for easy development
  • Ideal for caterers, tourists, office tenants, or local residents
  • Opportunity for a luxury residence or hotel development
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Investment Area Insights

The Manhattan Garment District and Hudson Yards area are characterized by a diverse mix of building types that reflect the area’s rich history and dynamic evolution. Here’s a closer look at the types of buildings you can find in these neighborhoods:

Garment District

  1. Historic Loft Buildings:

    • Description: Many buildings in the Garment District date back to the early 20th century. These structures typically feature large, open floor plans originally designed for manufacturing and garment production.
    • Features: High ceilings, oversized windows, and robust freight elevators. They often have a gritty, industrial charm with exposed brick and beams.
  2. Showrooms and Office Buildings:

    • Description: The area is home to numerous showrooms and office buildings that cater to the fashion industry, including designers, wholesalers, and manufacturers.
    • Features: Stylish, modern interiors designed to showcase clothing lines and accessories. These buildings frequently have updated amenities while retaining historical architectural details.
  3. Mixed-Use Buildings:

    • Description: Many buildings have been repurposed for mixed-use, combining commercial, office, and sometimes residential spaces.
    • Features: These buildings offer flexible space configurations, often with retail on the ground floor and office or residential spaces above.
  4. Boutique Hotels:

    • Description: The Garment District has seen a rise in boutique hotels catering to tourists and business travelers.
    • Features: These hotels often incorporate stylish, contemporary designs with amenities such as rooftop bars, fitness centers, and conference facilities.

Hudson Yards

  1. High-Rise Office Towers:

    • Description: Hudson Yards is known for its sleek, modern high-rise office buildings, which are among the most advanced in New York City.
    • Features: State-of-the-art technology, sustainable design elements, and high-end amenities such as fitness centers, dining options, and collaborative workspaces.
  2. Luxury Residential Towers:

    • Description: The area is home to some of the most luxurious residential buildings in Manhattan, offering high-end apartments and condos.
    • Features: Amenities such as swimming pools, rooftop terraces, concierge services, and panoramic views of the city and the Hudson River.
  3. Cultural and Public Spaces:

    • Description: Hudson Yards includes several cultural institutions and public spaces designed to enhance the community and attract visitors.
    • Features: The Shed (a cultural center), the Vessel (an interactive sculpture and viewpoint), and expansive parks and plazas.
  4. Retail and Dining Complexes:

    • Description: The area features large, upscale retail spaces and dining complexes that cater to both residents and visitors.
    • Features: High-end stores, fine dining restaurants, food halls, and entertainment venues.

Overall Characteristics

  • Architectural Style: The Garment District’s buildings are typically early 20th-century industrial, while Hudson Yards features cutting-edge, contemporary architecture.
  • Usage: Both areas are mixed-use, with a combination of commercial, residential, and retail spaces, but Hudson Yards leans more towards high-end, luxury developments.
  • Amenities: Modern amenities in both areas include fitness centers, rooftop spaces, advanced security systems, and sustainable building practices.
  • Accessibility: Excellent public transportation access, with numerous subway lines and proximity to Penn Station.

In summary, the Garment District offers a blend of historic charm and modern functionality, reflecting its roots in the fashion industry, while Hudson Yards represents the pinnacle of contemporary urban development with its futuristic buildings and high-end amenities.

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