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Deals & Dealmakers

65 West 55th St. to Convert 38,000-SF of Offices to Office Condominiums

Rudder Property Group is pleased to announce that 65 West 55th St., a 13-story, 112,000 square-foot mixed-use building located in the heart of the Plaza District submarket, will convert its three existing office floors to office condominiums for sale. 

“The supply of office condominiums in the Plaza District has been historically low but has seen consistently high demand due to its incredible location,” said Michael Rudder, principal of Rudder Property Group.  “The conversion represents a rare opportunity to own a full-floor or multi-floor office condo with outdoor space in a prime Plaza District location situated between Rockefeller Center and Central Park, making it a perfect fit for medical offices or professional services companies with clients in the area.”

With sales anticipated to launch after Labor Day 2022, partial units measuring 700 to 7,000 square feet can be purchased individually with the opportunity to create a single office portion totaling up to 38,000 square feet.  The existing office spaces—the majority of which feature large terraces—are home to a number of small-to medium-sized businesses, primarily medical and family offices as well as professional services companies.

“What’s really unique about the offering is the ability to have your own large, outdoor terrace, one of the most sought-after amenities that business owners and their employees are looking for especially in a post-pandemic world,” added Rudder.

Rudder Property Group, which specializes in the sale of office condominiums, has been retained by ownership as the exclusive sales and marketing team to market the property, which recently received permission to solicit interest in the project from the NY State Attorney General’s office.  Prices for individual units are expected to range from $800,000 to approximately $8 million.

Built in 1962, 65 West 55th Street is located between Fifth and Sixth Avenues.  The mixed-use property features office and retail spaces on the first through fourth floors and 89 residential rental units on floors five through 13, respectively. 

The office portion of the building, which boasts a white brick façade, includes large private terraces on the third and fourth floors, respectively.  The building features two elevator cabs with 2000-pound load capacities as well as a hydraulic unit with a 2000-pound load capacity that serves the second and third office floors.  65 West 55th Street is conveniently located near more than 10 subway lines and is centrally located between Mount Sinai West, Columbia University Medical Center and First Presbyterian Hospital.

In addition, a new website, www.RudderPG.com/65W55.com, has been launched to provide potential buyers with access to floorplans, building specs and information on office condominiums.

For more information on the office condominiums at 65 West 55th St., please visit www.RudderPG.com/65W55.com, or call (212) 966-3611 or email mrudder@rudderpg.com.

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