35 W 36th St. Credit: Rudder Property Group

NEW YORK CITY—Several weeks after refinancing the property, Hidrock Properties now plans to convert its 35 W. 36^th St. office building in Midtown Manhattan into office condominiums.

The firm has retained Rudder Property Group to handle the sales and marketing of the half-floor (3,300-square-foot) and full floor (6,600-square-foot) condo units at the circa 1911 Herald Square building. Asking prices at 35 West 36th Street are expected to begin at just under $3 million for a half-floor unit.

“35 W. 36th St. is meeting the demands of an under-serviced portion of the market in terms of both in size and value, especially in a quality building offered by a well-respected and accomplished sponsor in a desirable Midtown location off of Fifth Avenue,” says Michael Rudder, principal of Rudder Property Group. He adds that the conversion presents an opportunity for professional services and creative firms, fashion and apparel companies and non-profits to “sidestep the often-volatile leasing market and begin reaping the benefits of office condominium ownership.”