Greenspan of The Kaufman Org. secures 40,000 s/f lease

The Kaufman Org. signed a 40,000 s/f lease at 100-104 Fifth Ave. for Apple. Since Kaufman Org., in partnership with Invesco, acquired the building in Dec. 2010, 100-104 Fifth Ave. has attracted numerous new digital and creative companies, securing 100,000 s/f in new leasing deals in under eight months. 100-104 Fifth Ave. will be home to Apple's first executive offices in the borough, which will be used to launch various business projects. Apple will build out the space to create a modern, functional feel keeping in line with the architecture of their retail stores. "We are very pleased that Apple chose 100-104 Fifth Ave. as a permanent home for their new division. This move was a catalyst for the influx of digital technology and social media firms into the building. This area is attracting tenants who want to be near other firms in the same industry," said Grant Greenspan, principal of the Kaufman Org. Greenspan represented the owner, while Martin Horner of Jones Lang LaSalle represented the tenant. 100-104 Fifth Ave., built in 1905, is a 17-story, 270,000 s/f building located in Union Sq. 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 Org. and Invesco will embark on a repositioning of 100-104 Fifth Ave. through a capital improvement program totaling $9 million. This will include renovating the lobbies, elevators and building infrastructure. The Kaufman Org., with 100 years experience and 5.2 million s/f 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.