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Deals & Dealmakers

Stahl bringing Chanin Building space to market

New York City (NYC) developer, The Stahl Organization, announced that 46,068 s/f of full-floor office space has been made available for lease at Midtown Manhattan’s iconic 56-story Chanin Building at 122 East 42nd Street.

Chanin Building
Chanin Building

Three separate entire floors, ranging in size from 7,000 to over 31,000 s/f with the opportunity to have a private ground floor entrance on 42nd Street, will exclusively be marketed and leased by James Frederick, Peter Occhi and Michael Hofmann of Cassidy Turley.

A designated NYC landmark, and known as one of Manhattan’s most identifiable and iconic Art Deco structures due to its terra cotta and bronze façade, the Chanin Building is now able to offer future tenants a piece of history.

The second floor offer 30,063 s/f t of open space with a 1,350 s/f ground floor space and a dedicated entrance on 42nd Street.

The second floor boasts 500 feet of lineal exposure on 42nd Street and Lexington Avenue. Due to the unique offering, the combined spaces act as a building within a building, and make for an opportunity to house a school, medical facility, office or retail tenant. Both of these spaces must be leased together and the asking rent is $45 psf.

The 32nd floor offers 7,092 s/f with an asking rent of $55psf, while the 46th floor offers an 8,373 s/f space with an asking rent of $56 psf.

The full floor spaces on the tower floors boast natural light and offer 360 degree views of Manhattan and its famed landmarks, like the Chrysler Building and the Empire State Building. Some spaces also feature glass and wood finishes, perimeter offices, conference rooms and pantries.

“This is a unique opportunity to take an expansive full-floor space and customize it to fit your brand. The Chanin Building offers tenants the opportunity to market to the 120,000 pedestrians that walk through the area on a daily basis,” said James Frederick, vice chairman and principal of Cassidy Turley.

“It’s a high-visibility location, because eyes are immediately drawn to its façade. Thus far in 2014, Cassidy Turley has completed more than 20 transactions resulting in more than 75,000 square feet of pre-built or customizable space being leased.”

In addition to the full and partial floor units available at the Chanin Building, there are opportunities to lease spaces between 1,483 square feet up to approximately 7,000 square feet from floors three through 29.

Located close to Grand Central Station, the Chanin Building was the first major skyscraper erected in the central business hub.

Current tenants in the building include the American Heart Association, International Rescue Committee, Apple Bank for Savings and Women’s World Banking.

Developed by Irwin Chanin in 1929, Chanin enlisted Sloan & Roberston – with the assistance of Chanin’s own architect Jacques Delamarre – to design it in the Art Deco style. The building also incorporates architectural sculpture by Rene Paul Chambellan.

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