Kaufman Organization Leases 10,500 SF Office Space To Sapien.AI In Flatiron District For $85/ft

The property asset involved in this lease transaction is located at 48 West 25th Street in the Flatiron District. The asset type is classified as office space and features a square footage of 10,500. The asking rent for this property is set at $85 per square foot. The lease term is established at 5 years, with a modified gross lease type in effect.

Summary of transation details:

• Property Type: Office
• Transaction Amount: $885,000
• Address: 48 West 25th Street
• Market: Flatiron District
• Landlord: Kaufman Organization
• Tenant: Sapien.AI
• Landlord's Representative: Grant Greenspan - Kaufman Organization
• Tenant's Representatives: Matthew DeRose, Calvin Bruwelheide & William Janetschek - Nomad Group
• Lease Term: 5 Years
• Lease Type: Modified Gross Lease

In this transaction, the landlord, Kaufman Organization, is represented by Grant Greenspan. The tenant, Sapien.AI, is represented by a team from Nomad Group, including Matthew DeRose, Calvin Bruwelheide, and William Janetschek. The representatives from Nomad Group assist companies in finding, building, and operating office spaces across New York City, providing services that range from brokerage to ongoing facilities management.