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Kaufman Buys Flatiron District Office for $55M

NEW YORK CITY-The company plans to upgrade the property and deploy unique design, marketing, and operational strategies to entice cutting-edge media and tech firms.

By Rayna Katz | Updated on December 20, 2012

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.

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