Kaufman Organization Acquires Ground Lease Office In Chelsea For $35M

135 W. 29th St. in Chelsea has been sold in a ground lease transaction. The asset, an office building spanning 86,000 square feet, was purchased by Kaufman Organization for $35,000,000.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $35,000,000
• Address: 135 W. 29th St.
• Market: Chelsea
• Asset Type: Office
• Square Footage: 86,000

The ground lease deal was negotiated and completed off-market by Robert Khodadadian and Daniel Shirazi. Ground leases offer a tax-efficient structure that benefits both parties involved. This transaction, similar to the ground lease Skyline Properties facilitated with the Kaufman Organization at 236 5th Avenue, provides a hassle-free income stream for multi-generational owners.

For more information on ground leases and off-market deals, interested parties can contact:

Robert Khodadadian:
☎️ 212-286-8772
📧 [email protected]

Daniel Shirazi:
☎️ 212-380-3447
📧 [email protected]