The Real Deal New York

Plated gobbles up 23K sf at Kaufman’s 111 West 19th Street

Meal-kit delivery service is relocating from within landlord’s portfolio
March 06, 2017 02:10PM

111 West 19th Street and Plated’s Nick Taranto (Credit: Getty Images)

Meal-kit delivery service Plated signed a lease for 23,000 square feet at the Kaufman Organization’s 111 West 19th Street.

Plated signed a 10-year lease for the full third floor in the eight-story, 185,000-square-foot building, the Wall Street Journal reported.

The company is relocating from its current 11,000-square-foot office at 22 West 19th Street, another Kaufman property.

The rent in the deal was not provided, but asking rents in the building range from $60 to $80 per square foot.

Sam Stein, vice president of leasing at the Kaufman Organization, told the Journal that private equity and finance firms have shown interest in the building, in additional to the technology, advertising and media companies that are traditionally drawn to the Midtown South area.

The submarket’s vacancy rate increased to 7.5 percent in the fourth quarter of 2016, up from 6.3 percent the previous year.

In the past few years, Kafuman’s pumped about $9 million into renovating the building, including lobbies, entrances and heating/air conditioning systems.

Law360 signed a lease for 46,000 square feet in the building in 2015. [WSJ]Rich Bockmann