Kaufman Organization secures six leases totaling 15,129 s/f at its newest building in the Flatiron District

The Kaufman Organization, which specializes in leasing and managing premier office space in New York City, recently brokered six leases totaling 15,129 s/f at 27 West 24th Street. The Kaufman team has been targeting new media, creative and tech companies to lease office space in the building, and have a launched a media campaign starting with an interactive website www.27west24.com. Since acquiring the property in December 2012, the Kaufman Organization has spearheaded a $2.5 million capital improvement campaign that includes a renovated façade with a modern glass front entrance, an updated lobby with sleek wood wall paneling and slate floor; a boutique tenant-only entrance for privacy; new hallways, elevators and bathrooms. Telecommunication risers were installed throughout the building and the security system was updated to a web based card access system. The quick renovations resulted in increased leasing velocity and an occupancy rate of 95 percent. "We aim to be the innovation hub for tech, advertising, media and information firms looking for a classic loft space that meets their high-tech demands," said Grant Greenspan, Principal at Kaufman Organization. "The one-percent vacancy rate is a testament to the quality of the building, making it one of the premier loft office destinations in the Flatiron submarket." Grant Greenspan, Ian Norris and Andrew Margolin of the Kaufman Organization are the exclusive leasing and managing agents for the building. Although the terms of the leases were undisclosed, the asking rents were in the $50s per s/f. Kaufman secured the following leases: * YPlan is an app that features a curated list of events in major cities from New York to London. Users can purchase tickets to concerts, theater performances, comedy shows and more. The app is designed for individuals who are on the go and looking for something to do in the city. YPlan is opening its U.S. headquarters at 27 West 24th Street and is taking up 4,464 s/f of space on the ninth floor. Charles T. Gerace II and Brian Higgins of Jones Lang LaSalle represented the tenant. * Mark43, a management software company, creates next generation law enforcement software. Mark 43 reduces administrative work, enables the first true mobile data entry system and has the ability to share data across different law enforcement departments. The new 3,302-square-foot space will be Mark43's New York headquarters. Ben Fastenberg of CBRE represented the tenant. * Xerox Corporation has 140,000 employees in 160 countries and is the world's leading enterprise for business process and document management. Xerox's 2,648 s/f administrative office is located on the third floor of the building and has oversized bay windows and exposed loft-like ceilings. Michael Higgins and Bill Pickrell of Jones Lang Lasalle represented the tenant. * Wilkins Media, an award winning media agency known for developing best-in-class marketing initiatives, is taking up 2,065 s/f of space that will feature an open layout and sprawling conference room. The company has been serving the advertising community and the out-of-home industry for nearly 50 years. Ian Norris and Andrew Margolin of the Kaufman Organization represented both tenant and landlord. * East Media Group is a digital company with a team of designers, developers and strategists who create mobile and web applications. The firm has an impressive client list that includes ESPN, LinkedIn, MoMa and Bloomberg. They are relocating to a new, 1,424 s/f space with exposed loft ceilings and views of the Empire State Building. Ian Norris and Andrew Margolin of the Kaufman Organization represented the tenant and landlord. * Translate Media, is a translation agency that has developed its own translation management technology and has been recognized as one of the top 10 fastest growing digital media and technology companies in Europe. The company works with a diverse group of clients in different sectors that range from ecommerce, banking and finance entities, government organizations, marketing and advertising agencies. Translate Media is taking 1,226 s/f in the building. Ian Norris and Andrew Margolin of the Kaufman Organization represented the tenant and landlord.