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Deals & Dealmakers

Tele-doctors take floor at 236 Fifth Avenue

Kaufman Organization announced that LifeMD, Inc., a growing direct-to-patient telemedicine company, signed a 7,500-square-foot lease at 236 Fifth Avenue.

The company, which works to provide patients with a convenient and cost-effective platform to access quality medical care, medication and over the counter products, will occupy the entire fourth floor of the Midtown South Office tower for its general, administrative and executive offices.

GRANT GREENSPAN

“LifeMD, Inc. is the latest of many innovative, life science companies we have attracted to our Midtown South portfolio, and we predict we will continue to see a demand for office space from this type of tenant,” said Grant Greenspan, Principal of Kaufman. “The property is in a prime location and offers convenient amenities including concierge and doorman services as well as advanced technology that will further attract like-minded companies.”

Greenspan and Jared Sternberg of Kaufman represented the landlord, Kaufman Organization, while Joshua Berg of Newmark represented the tenant in the transaction. Asking rent was $65 per square foot and the tenant is expected to occupy the space in December 2021. 

Located on 5th Avenue between 27th and 28th streets, 236 Fifth Avenue is an 11-story building built in 1907 and renovated in 2018 after the Kaufman Organization acquired it.

The building went through a significant capital improvement, operating and marketing improvement plan to upgrade the property to a state-of-the-art office destination.

 Kaufman completely renovated the lobby, upgraded the elevators and elevated the property’s technical capabilities by installing state-of-the art fiber optic telecommunications risers. The lobby is also adorned with a wall panel sculpture from artist Fernando Mastrangelo. It’s in walking distance of Madison Square Park, and conveniently placed near many subway lines including the F, M N, R, 4, 6, PATH, and Penn Station. 

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