Manufacturing Space Still Available in Manhattan’s Far West Side

NEW YORK CITY—Manhattan’s Far West Side neighborhood is undergoing historic changes—most notably the development of Hudson Yards, the largest private development in the US. How is this affecting surrounding areas, including Manhattan’s one-time Auto Row/?

Even prior to the creation of Hudson Yards, the one-time industrial area has been attracting different developments including office construction. For example, William Ackman’s Georgetown Co. with the investment firm Main Street Advisors took on redeveloping 797 Eleventh Ave. with architect Rafael Viñoly designing offices above automobile dealerships.

Now ABS Partners Real Estate is marketing a 20,000-square-foot flexible, drive-in warehouse building at 539 W. 47th St. in the heart of Auto Row.

The owners are a group of investors led by ABS. They are listed as 539 545 W. 47th St., LLC, c/o ABS Partners Real Estate, according to PropertyShark. The database lists the contact as Gregg L. Schenker, the president and co-managing partner of ABS Partners. PropertyShark also notes Altman Burack Partners acquired the property in August 2002. Steven Hornstock, co-founded ABS Partners with Earle S. Altman, Peter Burack and Gregg Schenker in 2000, according to The Real Deal.

The property is the only two-story drive-in garage in the immediate area with a certificate of occupancy that allows non-public parking uses. The building can accommodate uses including retail, manufacturing, warehousing, automobile showroom and repair.

Ryan Cerqueira and Randy Modell of ABS Partners are marketing the property.

“As Hudson Yards development continues, Auto Row is experiencing a ripple effect influx of residential, office and retail development and, with that, comes added foot traffic and an increase in vehicular traffic,” says Cerqueira. “While high-end office towers are rising in the area and auto showrooms continue to thrive, the uses for this building are virtually unlimited. It’s a truly unique find in an area that has become a destination for residents and visitors alike.”

Toyota, Chrysler and Mitsubishi to Bentley, Mercedes and Land Rover auto dealers are nearby with the area having close proximity to the Lincoln Tunnel and the Port Authority. ABS points out that the location is well suited for shipping, receiving and light manufacturing.

Cerqueira comments that the layout and shell of the building are flexible enough to convert the space beyond its current use. The floor plates have generous column spacing with 10,000 square feet on each level.

“Shared manufacturing or technology spaces are growing in popularity and the prime location would also be perfect for a vehicle and equipment storage for tenants seeking quick access to New Jersey and points west,” he adds.