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Deals & Dealmakers

Kaufman signs two Madison tenants

The Kaufman Organization has secured two top floor leases, both with the added option of installing private roof decks, totaling 5,418 s/f at 19 West 24th Street (19W24) and 5,909 s/f at 15 West 27th Street (15W27).

As tenants of Kaufman’s Madison Square Portfolio, Samuelsohn Limited and Fernando Romero Enterprise (FR-EE) add to the portfolio’s roster of tenants which includes Anheuser-Busch and AlleyNYC.

The seven year leases reflect a leading range of rents for Class B office spaces in side street buildings in Midtown South, with asking rents in the mid-$70’s-per-square-foot-range for the transactions.

“As a result of the Kaufman Organization’s strategic rebranding efforts of the Madison Square Portfolio, we have seen robust interest for our office spaces from a diverse group of companies. Midtown South is still the most desirable neighborhood for forward thinking firms and the Madison Square Portfolio has become a destination for the creative class,” said Grant Greenspan, principal of the Kaufman Organization.

“Kaufman received multiple offers and the resulting, top floor deals signed with Samuelsohn and FR-EE reflect the success of Kaufman’s vision for the portfolio’s transformation into imaginative spaces designed to support companies that are attracted to the NoMad and Flatiron districts.”

Along with Greenspan, Kaufman’s Michael Heaner, partner and Elliot Warren, associate broker secured the transactions on behalf of Kaufman and landlords, Principal Real Estate Investors in partnership with the Kaufman Organization.

The Samuelsohn transaction is the fourth office lease at 19W24; Kaufman expects the building to be over 50 percent leased by end of 2015.

FR-EE is the first office lease signed at 15W27; Kaufman anticipates attracting a mix of creative, tech, new media and financial companies as tenants.

Samuelsohn, a luxury men’s outfitter whose products can be found in more than 200 luxury retailers including Saks Fifth Avenue and Nordstrom is relocating to a full-floor top floor space on the 12th floor at 19W24. Samuelsohn was represented by John Brod of ABS Partners Real Estate.

FR-EE, a global architecture and design firm founded by Fernando Romero will be housed in a full-floor top floor space on the 11th floor at 15W27. FR-EE was represented by Brett Kaye of CBRE.

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