News: Shopping Centers

Kaufman Organization brokers handle total 61,324 s/f in recent lease transactions

The Kaufman Organization recently brokered two fashionable deals totaling 51,324 s/f in just one month. Asking prices for all transactions were starting in the upper-$40s per s/f range. * Delco Apparel signed a 10-year lease for 26,000 s/f of showroom and office space at 500 Seventh Ave. Grant Greenspan and Michael Heaner of the Kaufman Org. represented the tenant, while Michael Dreizen of Newmark Knight represented the landlord. Although the terms of the lease were undisclosed, the asking price was $55 per s/f. * Tory Burch signed a 10 year lease for 25,324 s/f of showroom and office space at 11 West 19th St. Greenspan and Michael Kaufman of the Kaufman Organization represented the landlord, while John Brod and Laura Pomerantz of PBS Realty Advisors represented the tenant. Although the terms of the lease were undisclosed, the asking price was $49 per s/f. The Kaufman Org. also recently brokered leases for two Indian owned-denim companies, Revise Clothing and Déjà Blue, LLC., totaling 10,000 s/f of full-floor showroom and office space, at The Denim Building, located at 215 West 40th St. * Revise Clothing, signed a five-year lease for 5,000 s/f of boutique showroom space. Daniel Lipton of the Kaufman Org. represented the tenant, while Greenspan represented the landlord. Although the terms of the lease were undisclosed, the asking price was $42 per s/f. * Déjà Blue, LLC., signed a five-year lease for 5,000 s/f of showroom and office space. Lipton and Peter Pacific of the Kaufman Org. represented the tenant, while Greenspan represented the landlord. Although the terms of the lease were undisclosed, the asking price for the space was $45 per s/f.
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2024 Year in Review: William O’Brien, M.C. O’Brien, Inc.

What noteworthy transactions or deals from this year best exemplified key market trends or shifts? I would like to say there was an outstanding transaction for me this past year but 2024 was more a culmination of long-term relationships, most of which continued to transact. Deals were smaller in many cases but we saw robust leasing both on the agency side as well as on the tenant side.

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