CitySpire, built in 1987 as a 72-story office and residential building, is one of the tallest mixed-use skyscrapers in New York City. Prime Plus owns the bottom 23 floors which are for commercial use, while the floors above contain luxury condominiums. These two components have separate entrances, lobbies, and elevators. This Class A building, based on a primarily octagonal structure, is a glass tower with triple setbacks. The property is well-located in the heart of midtown Manhattan, four blocks from Central Park and with easy access to major transportation hubs.

The property will be owned via a condominium interest, which will require each owner to be party to a shared services agreement and subject to various rights and obligations regulated by an owners association. Obligations of TSOF, with respect to the owners association agreement have been fully factored into the forecasts.

KEY FEATURES

  • One of New York's tallest mixed-use assets
  • Luxury high-rise residential suites
  • Convenient access to public transportation