Cushman & Wakefield and Colliers International have been retained to market 554 Eighth Avenue, a 325,000 s/f office building on the southeast corner of Eighth Avenue and West 38th Street.
The building is being re-named 554 On the Eighth by property owners, The Expansion Group, and will undergo a renovation aimed at attracting office tenants from the technology sector.
The Expansion Group operates its own venture capital arm, Expansion Venture Capital, which has funded startups including Allbirds, Via, Lemonade, Enigma, and Postmates. 554 On the Eighth also offers an opportunity for a full building lease that can include naming rights.
Following a capital improvement program, the property will feature a new lobby, retail façade and streetscape, new infrastructure, high-speed elevators, operable windows and new HVAC. The building provides six terraces on various floors.
A Cushman & Wakefield team consisting of Managing Director Brandon Singer and Senior Brokerage Coordinator Michael Cody will be leading the retail marketing efforts.
The 21-story property offers nearly 29,000 s/f of divisible retail space across the ground floor, lower level and second floor.
Colliers International’s Executive Managing Director Christel Engel and Director of Brokerage & Advisory Services Joshua Goldsmith will market the office space and will leverage the availability of providing a full building for a single user.
“With the proximity to Hudson Yards and the increased interest from technology companies in the midtown submarket, 554 On the Eighth is positioned as a premier, headquarter-style destination for the most innovative firms in the country,” said Goldsmith.