345 Seventh Avenue

Units from 5,774 RSF

Make your mark in the Penn District

Overview

The office condominiums at 345 Seventh Avenue offer a unique opportunity to invest and secure your permanent office space in New York’s dramatically transforming epicenter. The building straddles two of the city’s most renowned neighborhoods, Chelsea and the Penn District, allowing you to get in early on an area poised for significant upside.

The Penn District is undergoing a $45 billion transformation led by developers Vornado and Tishman Speyer. The efforts will create one of the most dramatic changes to the Midtown skyline in decades. In coming years, the Penn District will become a city within the city with nearly 7.5 million square feet of office, retail and residential space.

Anchored by Penn Station, 345 Seventh Avenue is only two blocks from this vital transportation hub. With 14 subway lines and four regional train lines just steps from your office, city and suburban dwellers alike will benefit from shorter commutes in the city’s most transit-accessible neighborhood.

South of 345 Seventh Avenue lies Chelsea, a vibrant area known for its luxury high-rises, hotels, trendy attractions, art galleries and upscale restaurants. Chelsea attracts creative office space users in the fashion, tech, media, art, and retail sectors.

Many leading tech companies – Facebook, Apple and Amazon – have already committed to the Penn District. Whether a tech company or a nonprofit, a healthcare provider or an apparel company, now is an exceptional opportunity to secure a permanent commercial space in New York City’s next new epicenter.

345 Seventh Avenue is a major presence on Seventh Avenue and is amongst the thriving Penn District and adjacent to Chelsea. The iconic 25-story office condominium building features high ceilings and oversized windows on all four sides of the building, providing abundant natural light. The 186,000 rentable square foot (RSF) building offers large contiguous blocks of over 100,000 RSF, with full floors averaging 8,000 RSF.

Building Specifications

Year Built:
1928

Size:
186,000 RSF

Stories:
25

Floor Plates:
8,000 RSF

Typical Ceiling Heights:
11’3”

Facade/Exterior:
LL-11 Cycle 9 filed SAFE – 2/2021

Lobby/Entrances:
Marble finishes
Exterior and interior set of double glass doors

Structure:
Steel framing and concrete slabs with joint masonry

Floor load capacity:
Cellar, Ground, Mezz, FL 2-25: 120 lbs PSF
Floor 26: 40 lbs PSF

Elevators:
Four passenger elevators, cabs and modernization in 2017-2019
Three freight elevators, two automatic and one manual

HVAC:
One cooling tower with one cell weighing 350 tons Balticare system installed in April 2013
Rockmill manufactured central boiler generating steam heat

Electrical Service:
7,000 amps of electricity supplied by Con Edison; 200 amps per tenant

Fire Safety:
Class E system located in main building lobby
Notifier by Honeywell installed 2002

Standpipe/Sprinkler:
100% sprinklered
One riser with hoses located in Stair A
10,000 gallons located on Roof and 4,000 gallons on 16th floor

Plumbing:
One main water feed on 7th Avenue – 4”
Weinman house pump system located in basement

Security:
Access card system for entry outside of standard business hours
Individual access cards required to reach each floor by elevator

Stairwells:
Two stairwells are fire rated, equipped with LED lighting
Stair A – Basement to Roof / Stair B – Lobby to Roof
One internal staircase between the 23rd and 24th floor

Roof:
Modified bitumen replaced over various years
Three of five setbacks have been repaired in the past few years
Tenant terraces on floors 18, 20, 22

Windows:
Aluminum double hung windows with tilt and turns
Majority of windows replaced in the past 5-10 years

Bathrooms:
All bathrooms are ADA-compliant and feature ceramic tile finishes and stainless-steel partition
Satellite properties’ restrooms had been renovated as well and are ADA compliant

Building Staff:
Seven full-time 32 BJ union employees

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Guide to Ownership

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Units

Partial Floors

0	0	Asking Price	Price/RSF	Estimated Common Charges	Estimated Real Estate Taxes
11E	3,421	3,249,950	950	26,786	19,466
6E	3,457	3,111,300	900	27,055	19,667
5W	3,233	3,071,250	950	25,303	18,393

Full Floors

0	0	Asking Price	Price/RSF	Estimated Common Charges	Estimated Real Estate Taxes	Floorplan
12E/W	6,747	7,073,300	1,048	52,801	38,383
2E/W	6,803	6,292,775	925	53,245	38,706

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This advertisement is not an offering. It is a solicitation of interest in the advertised property. No offering of the advertised units can be made and no deposits can be accepted, or reservations, binding or non-binding, can be made until an offering plan is filed with the New York State Department of Law. This advertisement is made pursuant to Cooperative Policy Statement #1, issued by the New York State Department of Law, File No.: CP21-____. Sponsor: 7TH CITY REALTY LLC and EMPIRE 345 7TH LLC, as tenants in common, having an address c/o Empire Capital Holdings, 461 5th Avenue, 6th Floor, New York, New York 10017.

All computer and/or artist renderings reflect the planned scale and spirit of the Building. All dimensions and square footages are approximate and subject to normal construction variances and tolerances. All depictions of personal or condominium property (including without limitation any decorations, furnishings, fixtures, and landscaping) are for illustrative purposes only. Sponsor reserves the right to make changes in accordance with the terms of the Offering Plan. Sponsor makes no representations or warranties except as may be set forth in the Offering Plan.

Any depictions of personal or condominium property, including without limitation any furniture, decorations, furnishings, fixtures, appliances, and landscaping, are for illustrative purposes only. All dimensions and square footages are approximate and subject to normal construction variances and tolerances. Square footages exceed the usable floor area. Sponsor reserves the right to make changes in accordance with the terms of the Offering Plan..