IAC-555 W 18th Street

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Listing was updated on: 01/11/2023

555 W 18th Street, New York City, NY, United States

<p>Marcus &amp; Millichap and Institutional Property Advisors, a division of Marcus &amp; Millichap, is pleased<span style="color: transparent;"> </span>to exclusively offer the leased fee interest, on a NNN basis, under the IAC Building at 555 West<span style="color: transparent;"> </span>18th Street in Manhattan’s West Chelsea neighborhood. This is a unique investment opportunity<span style="color: transparent;"> </span>with an architectural marvel, designed by the world-renowned architect Frank Gehry, in a prime<span style="color: transparent;"> </span>location. The 195,000-square-foot office building, which is fully leased to IAC Inc., fronts the West Side Highway between West 18th Street and West 19th Street. There has been a notable trend of Class A office buildings in trophy locations outperforming pre-COVID numbers.</p><p><br></p><p>West Chelsea is a center for design and high-tech companies. The neighborhood is situated between the Meatpacking District to the South and Hudson Yards to the North. The IAC Building is across the street from Chelsea Piers, along 11th Avenue, sharing the Hudson River Skyline with other notably designed buildings includ<span style="color: black;">ing The Lantern House, 100 11th Avenue, The</span><span style="color: transparent;"> </span><span style="color: black;">One High Line Condos opening in 2024, and others. Tech companies nearby include Google</span><span style="color: transparent;"> </span><span style="color: black;">NYC Headquarters (111 8th Ave.), Twitter NYC Headquarters (245 W 17th St), Apple (401 W</span><span style="color: transparent;"> </span><span style="color: black;">14th St), and m</span>any others. Many of the world’s top art galleries are in West Chelsea. Upwards of 19 galleries sit within the blocks between 18th Street and 28th Street from 10th Avenue to the Hudson River including the renowned Pace Gallery and Gagosian Gallery. The property is in an area that has one of the highest concentrations of wealth in the city, is situated near attractions such as Hudson River Park and the High Line, is in close proximity to other desirable neighborhoods like Greenwich Village, the West Village, and SoHo, and is conveniently located close to top hotels, restaurants, and a variety of entertainment options.</p><p><br></p>