120 East 32nd Street
New York, NY
Overview
- Property Type Net Leased Commercial
- Rentable Square Footage 9,797 SF
- Asking Price $8,000,000
- Tenancy Non-Profit
- Cap Rate 10.75%
- Neighborhood Midtown South
Avison Young, as the exclusive agent, is pleased to offer for sale 120 East 32nd Street, a 9,797 rentable square foot commercial building located in Manhattan’s Midtown South neighborhood. The property is fully leased on a triple-net (NNN) basis to Mainchance, an established NY-City (DHS funded) non-profit organization operating a Drop-In-Center. Mainchance Drop-In Center is a 24-hour multi-service facility operated by the Grand Central Neighborhood Social Services Corporation, providing housing assistance, emergency shelter, and medical care to at-risk adults in Midtown Manhattan. The organization has operated from this location for over 20 years (since 2004), offering a supportive environment designed to help individuals transition toward a more stable future.
