Office condo expert Michael Rudder has launched sales at 866 United Nations Plaza, the Meadow Partners-owned tower tenanted by government missions, foreign consulates, and non-governmental organizations (NGOs).
“Ownership has long been a preference in the United Nations submarket. Converting 866 United Nations Plaza to an office condominium is satisfying an unmet demand for tenants who want an office in this area and who recognize the benefits of ownership,” said Rudder, principal of Rudder Property Group.
“Purchasing space at 866 United Nations Plaza allows a tenant to lock in their occupancy costs, protect themselves from the always rising price of leasing in Manhattan, avoid paying taxes if they’re a tax-exempt entity, and ensure their ability to maintain control of their office space. For those foreign organizations associated with the United Nations, the prestige of owning in this building also paints their country, as well as their commitment to the United Nations, in a very good light.”
866 United Nations Plaza, a 471,000 s/f Class-A office building located on 48th Street, between First Avenue and FDR Drive. It is situated at the base of two 32-story luxury residential towers that are separately owned and not a part of the offering.
The office property, developed in 1965, was designed by the lead architect for the United Nations complex, and is the only office property located adjacent to the Headquarters of the United Nations.
For the past few decades, 866 United Nations Plaza has remained close to 100 percent leased and is currently home to the highest concentration of United Nations missions, foreign consulates, and non-governmental organizations (NGOs) in New York City.
Each floor of the building totals 78,000 s/f and is comprised of units that range in size from less than 1,000 to more than 50,000 s/f. Units can also be combined or demised to accommodate users of varying sizes. Sale prices range from under $1 million to over $60 million.
866 United Nations Plaza is a full-service building, institutionally managed and operated by Jones Lang LaSalle. Building services are provided by a team of engineering staff, security guards, porters and cleaning personnel. The building features two lobbies attended by security 24/7/365, as well 17-foot travertine walls and polished granite floors. It has six high-speed elevators, a separate service entrance with loading dock and over-sized freight elevator and an underground parking garage offering direct access to FDR Drive.
The 41,500s/f underground parking garage, as well as three retail condominiums will also be a part of the condominium offering at 866 United Nations Plaza. These units will be marketed for sale at a later date by Glenn Tolchin and Jon Caplan of Jones Lang LaSalle.