News: Brokerage

Kaufman Org. commissions Marsi to install vertical elevator art galleries at 19W24, 13W27 and 45W27

The Kaufman Org., a fully integrated real estate firm, has commissioned contemporary artist, Skott Marsi, to infuse three out of its four Madison Sq. Portfolio properties with his unique, artistic imprint to create "vertical art galleries." Marsi will create 70 distinct works of art in the elevator shafts of 19 West 24th St. (19W24), 13 West 27th St. (13W27) and 45 West 27th St. (45W27), all of which feature glass panels at the rear of each elevator cab, and will reveal Marsi's custom art. "Skott embodies our creative vision for the Madison Square Portfolio - he is elaborate, inventive and most importantly takes his surroundings into account when undertaking a new project. When the Kaufman Org. was introduced to his work, we knew immediately that he was the person who would assist us in breathing new life into these buildings," said Grant Greenspan, principal of the Kaufman Org. "Witnessing him begin the process of creating 70 distinct pieces of art, paying homage to New York City icons like Andy Warhol, Robert De Niro and prominent neighborhood landmarks, has been an amazing experience. His work embraces the legacy of the neighborhood, like one of his paintings at 45 West 27th St. - a portrait of Al Capone - since it's a nod to the building's history as the Prohibition Enforcement Headquarters." As both the Flatiron and NoMad neighborhoods continue to evolve and appeal to creative spirits, Kaufman is committed to reinvigorating the firm's Madison Sq. Portfolio by completing extensive capital improvements to attract companies in the technology, advertising, media and information (TAMI) sector. The imaginative elevator shafts are only a mere example of the firm's dedication to creative, tech and new media industries, and yet another example of how the firm is making the Madison Sq. Portfolio into destination office buildings. "The Kaufman Org. acquired these buildings in a very poor and neglected state, and despite the bleak surface, we saw tremendous potential and value in these properties and have invested significant time and resources to enable each building to house today's top visionaries and creative minds," Greenspan said. "Working with artists like Skott adds authenticity to these properties that we know will resonate with the tenants we envision inhabiting them." The three properties will reintroduce approximately 200,000 s/f of office space back to the Flatiron and Nomad Districts, where vacancy is at an all-time low and rents are skyrocketing. Each building will feature full floors of approximately 5,500 s/f with polished wood floors, open ceilings and three to four sides of windows. Ownership will offer a design-build program for each tenant and flexible terms, in addition to rent concession packages. Marsi, a Long Island native, is one of the most exciting names to emerge from the contemporary street art scene in recent years - influenced by likes of Picasso and Jackson Pollock. After being asked to paint live at Art Basel in Miami in 2011, Marsi's career has skyrocketed. To date, he has been commissioned to work for the likes of the Danilo Gonzalez, the accomplished artist who commissioned Skott for The Wynwood Café and renowned pop star, Christina Aguilera. Additionally, he has showcased his art at exhibitions everywhere from Dubai to Beverly Hills and downtown Los Angeles. In addition to Kaufman introducing art to the three buildings in its Madison Square Portfolio, 19W24, 13W27 and 45W27 will also have public spaces. Kaufman enlisted architecture and design firm, Design Republic, whose clients include Yelp, Cartier, HBO, CBS and Viacom, to create these spaces that will include custom-designed lobbies with illuminated three-dimensional wooden fins. What's more, each office space will be outfitted to handle the rigorous technology demands of TAMI tenants as Kaufman is installing telecommunication risers that will offer a host of high-speed broadband options. Other improvements to the buildings' infrastructures include significant upgrades to security, plumbing and electrical systems. The portfolio's fourth building - 119 West 24th St. - has been fully leased by Anheuser-Busch InBev, the St. Louis-based brewer of Budweiser and Bud Light, who took 83,686 s/f of office space for the company's advertising and marketing team; and AlleyNYC, a co-working space provider, who took 36,000 s/f.
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