80 Park Avenue presents a rare opportunity to acquire a 91-space commercial parking garage condominium in the heart of Midtown Manhattan’sGrand Central district—an area defined by unmatched transit access, dense office inventory, and steady residential demand. Spanning over 20,000 square feet across two subterranean levels, the garage benefits from dedicated street-level access and is currently 100% owner-occupied, presenting an ideal scenario for immediate owner-use or market-rate lease-up.
Investment Opportunity: This garage offers the potential for reliable income through repositioning with an experienced parking operator. With stable demand drivers, low vacancy rates, and a scarcity of similar assets in core Manhattan, this offering is well-positioned for long-term capital appreciation. Located within a full-block development between East 38th and 39th Streets, the asset’s visibility, accessibility, and scale make it a prime candidate for an investor seeking durable returns in a high-barrier-to-entry market.
Prime Location & Demand Drivers: Just steps from Grand Central Terminal, Bryant Park, and major corporate headquarters along Park and MadisonAvenues, 80 Park Avenue benefits from high weekday foot traffic and residential overflow. The neighborhood’s consistent commuter influx and limited parking availability reinforce long-term utilization, ensuring stable revenue generation across economic cycles.
Strong Fundamentals with Upside Potential: Currently owner-occupied and operated under internal management, the garage offers clear upside through professional lease structuring, improved NOI, and operational efficiencies. With no existing encumbrances or long-term operator contracts, investors can implement a tailored leasing strategy to enhance value.
With its strategic Midtown location, large footprint, and untapped revenue potential, 80 Park Avenue represents a unique opportunity to control a critical infrastructure asset in one of Manhattan’s most consistently active submarkets.