Kaufman Takes Over as 1M-SF Building Agent

NEW YORK CITY-The Kaufman Organization has been appointed as the exclusive leasing agents for Prime Group Realty Trust’s 1.1-million-sf, 42-story, class A showroom/office building at 1407 Broadway. Previously, the building–between 38th and 39th streets–was represented by CB Richard Ellis.

Grant Greenspan, principal and Michael Heaner, managing director of the Kaufman Organization, will be the leasing agents on the building. Greenspan tells GlobeSt.com that the firm’s leasing strategy is “to demonstrate to the immediate community here, in the Fashion District, that the building is committed to the fashion industry and the neighborhood in general.” Greenspan says that the Kaufman Organization is recommitting the building to neighborhood tenants and plans to find one or two major office tenants or “large floor-plate office tenants.”

As far as why the owner decided to switch to the Kaufman Organization, Greenspan simply says that “they were looking for more of a neighborhood-based company.” Asking price at the building starts at approximately $50 per sf. The building is currently 85% occupied. Current tenants include Dollhouse, Fubu the Collection and Capital One Bank. Greenspan says that the available 200,000 sf is mostly broken up into smaller spaces, around 11,000 sf and 15,000 sf.