NEW YORK CITY-The Kaufman Organization has acquired 27–35 W. 24th St. in the heart of the Flatiron District for approximately $55.5 million, according to a release. Prince Realty Advisors advised Kaufman on the purchase from JH Management Co., which in turn was advised 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 Avenue of the Americas, just off Madison Square Park. Kaufman plans to refurbish, rebrand and reposition the building over the next several years. The planned $2.5-million capital improvement program includes upgrades to the lobbies, elevators and building infrastructure.
The update will focus on adding creature comforts to the building, especially on the technological front, says Grant Greenspan, a Kaufman principal and head of leasing, in an interview 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.
