NEW YORK CITY-The Kaufman Organization hasacquired 27–35 W. 24th St. in the heart of the Flatiron Districtfor approximately $55.5 million, according to a release.Prince Realty Advisors advised Kaufman on thepurchase from JH Management Co., which in turn wasadvised by Massey Knakal Realty Advisors.
Built in 1914, 27–35 West 24th is an 11-story,120,000-square-foot office building between Fifth Avenue and Avenueof the Americas, just off Madison Square Park. Kaufman plans torefurbish, rebrand and reposition the building over the nextseveral years. The planned $2.5-million capital improvement programincludes upgrades to the lobbies, elevators and buildinginfrastructure.
The update will focus on adding creature comforts to thebuilding, especially on the technological front, says GrantGreenspan, a Kaufman principal and head of leasing, in aninterview with GlobeSt.com.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
