The Real Deal New York

Leasing launches at former Ring portfolio building

The building will include roughly 8,500 square feet on the ground floor

June 03, 2014 12:40PM

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From left: Kaufman's Grant Greenspan and 119 West 124th Street

From left: Kaufman’s Grant Greenspan and 119-125 West 124th Street

The Kaufman Organization is now leasing at 119-125 West 24 Street in the Flatiron District. Tenants can lease the entire 12-story, 146,000-square-feet former Ring portfolio building. Average asking rents at the building are $67 per square foot, according to an announcement from the company.

Kaufman is also creating a new 8,502 square-foot retail space on the ground floor. Asking rent for the commercial space will be roughly $115 per square foot.

“Since tech, creative and financial firms began calling the neighborhood home we have continued to see incredible demand from companies looking to expand into multiple, full-floor spaces,” Grant Greenspan, principal at the Kaufman Organization, said in the announcement.

Kaufman added that 119-125 West 24th Street will soon be renovated, with upgrades made to the lobbies, elevators and the building systems.

“In order to attract innovative companies, we have to provide them with the types of spaces and amenities that will support their growth and technology needs,” Greenspan said in the release. “This means curating retail tenants that serve as both an extension and an expression of the building’s occupants, providing multiple high-speed internet and communications providers to tenants, making sure a property is energy-efficiency and that the lobby is something that goes beyond a marble-clad security desk and turnstiles.” — Claire Moses

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