Kaufman Organization Acquires Flatiron Office Building For $48.5M

An office property located at 56 West 22nd Street in the Flatiron market has been sold for a price of $48,500,000. The property spans across 67,000 square feet and was sold at a rate of $725 per square foot. The transaction took place on March 24, 2020. The buyer of the property is Michael Kazmierski and Lorenzo Bakewell-Stone, representing the Kaufman Organization and AXA Investment Managers - Andrew Pikearski. The seller of the property is the Blum Family. The deal was facilitated by brokers Bob Knakal, Brendan Maddigan, Jonathan Hageman, Brock Emmetsberger, and Patrick Yanotta from JLL.

Summary of transation details

• Property Type: Office
• Transaction Amount: $48,500,000
• Address: 56 West 22nd Street
• Market: Flatiron
• Square Footage: 67,000
• Price per Square Foot: $725
• Buyer: Michael Kazmierski & Lorenzo Bakewell-Stone, representing the Kaufman Organization and AXA Investment Managers - Andrew Pikearski
• Seller: Blum Family
• Brokers: Bob Knakal, Brendan Maddigan, Jonathan Hageman, Brock Emmetsberger, and Patrick Yanotta from JLL

The sale of the property involved key individuals and companies such as Michael Kazmierski, Lorenzo Bakewell-Stone, and the Blum Family. The buyer was represented by the Kaufman Organization and AXA Investment Managers - Andrew Pikearski. On the other hand, the seller was represented by brokers Bob Knakal, Brendan Maddigan, Jonathan Hageman, Brock Emmetsberger, and Patrick Yanotta from JLL.