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25 W 38th St

Garment District, New York, NY
Floors
8
Total Size
14,000 sqft
Lot Size
0 acres
Year Constructed
1930
Year Renovated
0
LEED Certification
None
Number of Buildings
1

About 25 W 38th St

Tenants looking for a short-term lease and hoping to rent office space in the city’s Garment District should make an appointment to see 25 West 38th Street, New York.

25 West 38th Street, Garment District, New York, is a development site, where the existing sandstone building is destined for demolition. Acquired by Fortuna Realty in December 2012, the building’s present commercial unit is ideal for start-ups seeking a short lease.

25 West 38th Street, New York, is located between 5th and 6th Avenues and will be developed as a 27-story, 170 key luxury boutique hotel. The site is currently in the pre-development phase, giving tenants a short-term opportunity to occupy a lovely early 1900’s building.

Featuring exposed ceilings and windows on three sides, including floor to ceiling south-facing windows, private bathroom, pantry and new pendant lighting, the unit is wired for the Internet. The landlord has agreed to do minor works, including new flooring and constructing a conference room.

25 West 38th Street in New York‘s Garment District presently features a sandstone facade with beautiful Art Nouveau decorations above its entrance. On the ground floor and 1st floor the building features retail frontage.

Companies at 25 W 38th St

SpringHill Suites New York Midtown Manhattan/Fifth Avenue Lodging

Internet Providers for 25 W 38th St

Provider Technology Max Download Speed Max Upload Speed
Level 3 Communications Fiber
10 Gb/s
10 Gb/s
RCN Cable
1 Gb/s
25 Mb/s
Time Warner Cable Cable
100 Mb/s
6 Mb/s
MegaPath DSL
50 Mb/s
50 Mb/s
Verizon New York DSL
10 Mb/s
1.5 Mb/s

The Neighborhood: Garment District

The typical asking rate per listing is in the $50's per square foot per year. The Garment District submarket is seeing a decline in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 2% decline in rent.

Compared to the rest of the New York City market, the Garment District region has smaller rates, so you should have no trouble finding a great deal in this undervalued submarket.

Median Rate Median Size
Garment District $59
/sqft/yr
2,500
sqft
Median Rate Median Size
New York City $66
/sqft/yr
3,300
sqft

Median Rate over Time in Garment District