"This is an opportunity for small and mid-sized tenants to establish a full-floor identity in a great office building in a highly desirable location," Danielle Zimbaro, a senior director at C&W, says in the release. Zimbaro and her C&W colleagues, Josh Goldman and David Berke, are marketing the 42,000 square feet of office space on behalf of owner Zar Property NY, which bought the 64,000-square-foot property from JPMorgan for a reported $18.3 million this past December.
The available office space includes six floors of approximately 7,000 square feet apiece. JPMorgan's executive lending department had previously occupied the building, and each floor is fully built-out and in move-in condition, according to C&W. The banking giant has leased back the retail portion of 349 Fifth, comprising the first two floors.
"We will consider all offers and expect strong interest from a wide variety of industries," David Zar, managing principal of Zar Property, says in the release. The investment firm, which owns four million square feet of commercial and residential property nationwide, is currently renovating the 106-year-old property with a new lobby and new elevator cabs. Zar's other Manhattan holdings include 64-68 Wooster St., 38 Green St., 42 and 50 Greene St. and the retail condominium at 62 Thomas St., which includes the restaurant Megu.
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