82,000-SF Nomad Office Building Trades
The Kaufman Organization has acquired the Haymarket Building, which is under a newly-formed, 99-year ground lease.
NEW YORK – The Kaufman Organization has purchased the Haymarket Building, located at 135 W. 29th St. in Manhattan. The office property was acquired for $34.5 million from MFM Properties LLC.
The 82,000-square-foot, 12-story building is under a newly-formed, 99-year ground lease.
The Kaufman Organization plans to implement a renovation and repositioning program at the property, which was built in 1911.
Located in Nomad, between 6th Ave. and 7th Ave., the Haymarket Building is currently 70% occupied by tenants within the finance, technology, advertising and apparel industries.
The acquisition was led by Kaufman Investments president and principal, Michael Kazmierski and VP, Lorenzo Bakewell-Stone.
“As the most active office investor in Midtown south and creator of newly-formed, office ground leases in Manhattan over the last half-decade, the Haymarket Building presents an excellent opportunity to capitalize on our core expertise,” states Kazmierski. “This will be our third Midtown south office acquisition in the last 14 months, and we look forward to continuing our contribution to the evolution of this submarket.”
The building currently has 25,000 square feet of space available for lease. The vacant offices consist of mixed-use, flexible spaces.