Greenspan of The Kaufman Org. reps owner in 10,600 s/f lease to FirstMark Capital

The Kaufman Org. has signed a 10,600 s/f lease at 100-104 Fifth Ave. for FirstMark Capital. Grant Greenspan, principal of the Kaufman Org. represented the ownership, while Bruce Rothman of Studley represented the tenant. Since Kaufman Org., in partnership with Invesco, acquired the building in late 2010, 100-104 Fifth Ave. has attracted numerous new digital and creative companies and now plans to diversify the tenant mix by adding financial firms looking to invest in new technology companies. FirstMark Capital is a New York City based venture capital firm investing in leading technology innovators who share a passion for making an impact by building exceptional, world-changing businesses. A venture leader with nearly $2 billion in capital commitments, FirstMark's team of investment and operations professionals have decades of real-world experience and leadership in core technology markets. The firm is uniquely qualified to offer industry insight and the operational expertise to build lasting businesses. Some of FirstMark's clients include Pinetrest, Knewton and TheStreet.com. "FirstMark Capital wanted to move closer to their clients and we were able to find them the perfect space in 100-104 Fifth Ave. This building has quickly become the premier building for creative and technology tenants and is now growing in the venture capital industry as these companies choose to move closer to the firms they look to invest in," said Grant Greenspan, principal of the Kaufman Org. "There is a demand for office space at 100 - 104 Fifth Ave. as more companies want to move to the Union Square neighborhood to be near the technology center of Manhattan." Over the past year, Kaufman Organization has secured over 100,000 s/f of new leases in 100 - 104 Fifth Ave. The building is 95% occupied, with approximately 30,000 s/f of space available. Although the terms of the lease were undisclosed, the asking rent for the space was $55 per-s/f. 100-104 Fifth Ave., built in 1905, is a 17-story, 270,000- s/fbuilding located in Union Square. The building features a mix of creative and new media companies, advertising and architectural firms, educational companies and financial firms. Kaufman has signed several major digital firms in the building including Yelp, Interactive Partners, and Net-A-Porter. Kaufman Organization and Invesco will embark on a repositioning of 100-104 Fifth Ave. through a capital improvement program totaling approximately $9 million. This will include renovating the lobbies, elevators and building infrastructure. The Kaufman Organization, with 100 years experience and 5.2 million square feet of owned or managed space, has long been considered one of the most prominent and well-respected real estate companies in the New York metropolitan area. The company offers a fully integrated spectrum of leasing and management services to diverse owners and tenants and is continually looking to build its portfolio through property acquisitions. www.kaufmanorgainzation.com