The Real Deal New York

C&W tapped for Midtown South office building

March 25, 2013 12:00PM

Emmes Asset Management has tapped Cushman & Wakefield as the exclusive leasing agent for the 12-story office building at 158 West 27th Street, according to the real estate company.

Emmes acquired the building about a month ago for $57.5 million from Stephen Meringoff and Leslie Himmel. The price was more than double the $25 million that Meringoff and Himmel paid in 2010.

Cushman’s marketing team will consist of Bruce Mosler, chairman; Mark Mandell, executive director; Ethan Silverstein, director; Mikael Nahmias, senior managing director; and Matthias Li, senior associate.

“We are excited to be working with Emmes as the exclusive leasing agent on this unique property in Midtown South, which is the hottest neighborhood in Manhattan and the tightest market in the nation, with a 6.8 percent vacancy rate and rents that have risen more than 8 percent year-over-year,” Mosler said in a statement.

Rent in the 117,158-square-foot boutique loft office building runs in the mid-$50 range per square foot. The property features 96,610 square feet of office space, located on floors three through 12, and 20,548 square feet of retail space on the lower floors. —Christopher Cameron