NEW YORK CITY-GlobeSt.com has learned exclusively that Cushman & Wakefield has been appointed as exclusive leasing agent for 158 W. 27th St., located between 6th and 7th Avenues. The building was recently acquired by an affiliate of Emmes Asset Management Co., LLC from Meringoff Properties, Inc., according to a press release.
Cushman & Wakefield's Bruce Mosler, chairman, global brokerage, Mark Mandell, executive director, and Ethan Silverstein, director, along with Mikael Nahmias, senior managing director and Matthias Li, senior associate, of the firm's strategic agency services group, are representing the owners.
Says Mosler in the release, “We are excited to be working with Emmes as the exclusive leasing agent on this unique property in Midtown South, which is the hottest neighborhood in Manhattan and the tightest market in the nation, with a 6.8% vacancy rate and rents that have risen more than 8% year-over-year.”
Rent for the building is in the mid-$50 per square foot range, according to a spokesman. A call to C&W seeking comment about marketing plans for the building wasn't returned by press time.
The 12-story, 117,158-square-foot boutique loft office building is located in the Chelsea neighborhood of Manhattan's Midtown South submarket. The property consists of 96,610 square feet of office space on floors three through 12 and 20,548 square feet of retail and storage space on the lower floors of the building.
Emmes has plans to continue to upgrade and modernize the property, including additional modernization of building systems, technology upgrades, façade improvements and potential roof/penthouse renovations, according to the release.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
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.
