Kaufman Org. leases 6,933 s/f to Raise

May 16, 2017 - New York City
Grant Greenspan,
Kaufman Organization

New York, NY According to the Kaufman Org., Raise Marketplace, an online marketplace to buy and sell gift cards, has selected 155 West 23rd St. as its N.Y. headquarters. The firm, which will be housed in a full-floor 6,933 s/f space on the 12th floor, represents the first lease signed at the newly brought to market and repositioned building.

“Raise has significantly expanded its presence in Chicago. As it ventures east to New York City, we’re confident that the amenities, space and Midtown South address will afford the company the opportunity to establish a brand presence and experience the same growth as it has in the Midwest,” said Grant Greenspan, principal at the Kaufman Organization. “Kaufman’s strategic rebranding campaign at 155 West 23rd Street, among our other properties, aims to attract growing business ventures like Raise. With the firm signing the first lease at the building, we expect leasing velocity at the building to match the success of the Madison Square Portfolio.”

Raise, founded in 2013, has saved consumers more than $125 million and received $87.2 million in funding. As the leading retail technology partner with more than 220 national brands, Raise offers consumers up to 30% savings on gift cards for popular brands such as Starbucks, Nike and Gap. In addition to acquiring Slide in 2016, Raise also acquired mobile personalization business Tastebud Technologies in 2015.Grant Greenspan, Jared Sternberg and Aron Orbach represented the landlord 155 W 23 Leasehold LLC (in partnership with Goldman Sachs Asset Management Private Real Estate) in the five year lease. Asking rent was in the mid-$70’s-per-square-foot and expected occupancy is Summer 2017.

Kaufman recently completed a strategic $10 million capital improvements campaign at 155 West 23rd Street that included a gut renovation, along with the installation of new plumbing and electrical systems and state-of-the-art fiber optic/telecommunications risers. The building features a modern and high-concept lobby space, courtesy of notable architectural design firm, Design Republic.

155 West 23rd St. is located in close proximity to subway lines including the 1, F, M, C and E lines as well as the PATH train. Nearby New York City landmarks include Madison Square Park, Shake Shack, Eataly and the Flatiron Building.

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