Manhattan, NY Koeppel Rosen LLC, leasing and management agent for the Rosen family portfolio, and stewards for a number of historic Manhattan office properties, said that The Yuba Group LLC has signed a new, 2,207 s/f lease at 236 West 27th St, a 15-story mixed-use office property in the Chelsea neighborhood.
The Yuba Group LLC is a real estate investment and management firm focused on the acquisition, operation, and strategic repositioning of commercial properties.
Max Koeppel, director of leasing at Koeppel Rosen, represented ownership in-house, while Michael Pinney of Signature Partners, LLC negotiated on behalf of The Yuba Group, which will occupy space on the 14th floor.
Built in 1928, 236 West 27th St. is an Energy Star-rated building that offers a total of 124,588 s/f. Designed by architect William Hohauser, the building includes a triple-arched entryway leading to a modernized lobby and 24/7 building access. The roster of tenants includes the Fashion Institute of Technology, Studio Zuchowicki, and Two Twelve.
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,