Avison Young is offering for sale a 173,268 RSF office opportunity comprising four office condominium units across nine stories at the newly renovated base of 825 Seventh Avenue, located at the corner of West 53rd St and 7th Avenue. The four office condominiums can be acquired together or separately, offering flexibility to pursue a core, core+ or value-add strategy.

Two of the four units are leased through 2053 and 2054 to institutional-quality nonprofit tenants with established operating histories and stable funding. Tenants include Young Adult Institute (YAI), one of New York State’s largest social services nonprofits with over $300 million of annual revenue and 70 yrs of operating history, and New Alternatives for Children (NAC), a NYC-based child welfare nonprofit founded in 1982, headquartered at 825 7th Ave, that provides comprehensive services to children with complex medical needs and disabilities. The leased units benefit from educational/charitable real estate tax exemptions, resulting in a $0 real estate tax bill, as well as contractual rent increases every five years and reimbursements above a base year for all operating expenses.

The remaining two full-floor vacant units, each 19,229 RSF and 2,640 SF of outdoor space, provide an owner-user or value-add opportunity across the 7th and 8th floors.