The Real Deal New York

Kaufman gets busy leasing second Ring building

Landlord signs trio of tenants as it fills Midtown South portfolio

October 01, 2015 04:50PM
By Rich Bockmann

Grant Greenspan and 19 West 24th Street

Grant Greenspan and 19 West 24th Street

With one of the four Ring Portfolio buildings it ground-leased from Extell Development last year now completely full, the Kaufman Organization signed the first new office tenants to a second building.

Kaufman added three companies for more than 16,000 square feet total at 19 West 24th Street, around the corner from Madison Square Park and Eataly.

Artificial intelligence developer AiCure, digital advertising firm IPONWEB and wine distributor Wilson Daniels Wholesale each took 5,148-square-foot, full-floor spaces in the 12-story building, between Sixth Avenue and Broadway.

Asking rents for the spaces were between $60 and $70 per square foot.

The tenants join celebrity chef Jared Sippel’s restaurant Italienne, which will open shop in the ground-floor retail space early next year.

The first of the four Ring buildings Kaufman leased last year – 119 West 24th street – is fully leased to Anheuser Busch and Alley NYC.

“Since acquiring the four properties that now make up the Madison Square Portfolio, less than a year-and-a-half ago, the Kaufman Organization has been strategic in transforming the buildings into destinations for the TAMI sector,” Kaufman principal Grant Greenspan said in a statement.

After leasing a fifth building to Kaufman earlier this year, Gary Barnett’s Extell just sold the portfolio to HLP Properties for more than $250 million, as The Real Deal reported Wednesday.