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<div style="display: flex; flex-direction: column; margin-top: 0.15rem; width: 200px; height: fit-content; align-items: left;
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 <img src="https://cf.reverecre.com/cdn-cgi/image/w=200,h=undefined,fit=scale-down/https://storage.googleapis.com/revere-user-uploads/project%2Fb9e29b7b-d4e6-425c-8858-91fdf17a6667%2Fd4a0144d-53a1-400a-ae89-baff9e7f7587" onerror="this.style.display='none'" alt="548 &amp; 554 West 28th Street Image" style="object-fit: cover; width: 200px;" />
 Office / Retail 
 
 548 &amp; 554 West 28th Street
 
 New York, NY 
 By Avison Young

 <a href="/user/e7a1e98f-3799-429f-9c7c-8ebbeaee46dd" style="margin-top: 0.5rem; font-size: 10px; text-decoration: underline;">Erik Edeen</a>
 
 Principal – US Investment Sales
 
 
 <a href="tel:(212) 729-7402" style="margin-top: 0.25rem; font-size: 10px; text-decoration: underline;">(212) 729-7402</a>
 

 <a href="https://platform.reverecre.com/project/b9e29b7b-d4e6-425c-8858-91fdf17a6667" target="_blank" style="text-decoration: underline; color: #2E74B3; text-align: left; margin-top: 0.5rem">
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Avison Young offers a comprehensive suite of commercial real estate services, including transaction, management, financial and advisory services. We’ve designed our corporate structure to best serve our clients by enhancing collaboration across our organisation.

Whether you are a user/occupier or an owner/investor, Avison Young is organised to deliver truly integrated solutions to meet your unique needs.

Because we recognise that, for most occupiers, the property burden represents the second highest cost and tends to be the biggest contingent liability, we focus on helping occupiers create property and workplace solutions that improve performance, increase competitiveness, adapt to changing markets and provide the optimum workplace environment for their staff.

- Consulting Services, Facility Management, Occupier Project Management, Occupier Solutions, Occupier Valuation and Advisory Services, Tenant Representation, Transaction Management

We add value right through the property lifecycle, from acquisitions to disposals, in a wide variety of sectors including: offices, retail, industrial and alternative sectors.

Our collaborative approach means we gain a more intimate understanding of the needs of owners and investors.  As a result, we can provide customised advice that underpins intelligent and informed decisions.

Agency Leasing, Capital Markets, Consulting Services, Debt and Mortgage Services, Investment and Asset Management, Investor Project Management, Net Lease, Property Management, Valuation and Advisory Services

Flexible Solutions, Hospitality, Industrial, Multi-Family, Office, Retail

Associations and Nonprofits, Automotive Properties, Data Centers, Healthcare, Life Sciences, Private Equity, Project Management Specialty, Senior Housing, Sustainability

Director

Associate

Principal, Head of US Investment Sales

 Principal – US Investment Sales

Principal - Head of US Investment Sales

An architecturally historic 97,200 GSF six-story office building and a 4,937 GSF retail building

Curb cuts along West 27th and West 28th Street 

Located in the West Chelsea Historic District 

Base Residential FAR of 5.0x with ability to increase to 7.5x with Qualifying Affordable Housing or CB4 IH Certificates

Flexible zoning allows for a multitude of uses: office, gallery, residential, commercial, etc...

WALT of 2.67 years, offering stable cash flow and near-term rollover upside

Block through with 200' of frontage along W 28th St and  W 27th St

Historical Tax Credits Eligible (20% of hard costs)

Market rents in the neighborhood are ~$100 psf and condo sellouts are over $2,000 psf

Premier West Chelsea location adjacent to the High Line, Hudson Yards, and Chelsea Art District

Surrounded by luxury residential developments, cultural institutions, and global art galleries

Walkable to dining, entertainment, and retail destinations such as Chelsea Market, The James Beard Foundation’s Market 57, and Hudson Yards’ retail corridor

For more information, please contact:

Avison Young, as the exclusive agent, is pleased to present for sale 548 West 28th Street and 554 West 28th Street (the “Properties”), two adjacent buildings with block-through frontage in the heart of West Chelsea. Together, the Properties comprise 102,137 gross square feet across a six-story office building and an adjacent retail building.

Erik Edeen is Principal and Senior Director of U.S. Investment Sales at Avison Young based out of the firm’s Manhattan Office. Erik leads major market business execution, partnering with leading professionals in those markets. He is involved in developing and executing all facets of the investment sales business across all asset types. Erik’s role includes developing go-to-market strategies including research, marketing, and data analytics. With a differentiated approach, the cohesive U.S. Investment Sales Group leverages best-in-class execution to deliver superior results for clients.

Erik also leads the day-to-day operation of the two-dozen member Tri-State Investment Sales Group where he oversees the sales, operations, and analytics teams. He serves in a leadership role on the Capital Markets Executive Committee steering critical strategy and functions. Throughout his 15-year career, Erik has been involved approximately 300 real estate transactions valued over $5 billion.

Before joining Avison Young, Erik was a Financial Analyst on CBRE’s New York Institutional Investment Sales group, a top 10 globally ranked team. Erik earned a Bachelor of Science degree in Finance from the University of Connecticut with a concentration in Real Estate and was the 2019 recipient of the University of Connecticut Real Estate Center Early Career Alumni Award. In addition, he is the Co-Chair of Real Estate Ascending Leaders (REAL), an exclusive New York based networking and educational association. Erik is a member of REBNY, ULI and is active within the UCONN alumni network. Erik lives in Long Island City with his wife and two children.

Overview

Investment Highlights

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For more information, please contact:

Inquire