Kaufman Organization Acquires Office Building On Fifth Avenue In Manhattan For $64.5M
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This Office property located in NY received a loan of $64,500,000 over 6 years ago. The brokers of the deal were Robert Khodadadian and Daniel Shirazi
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- Location236 5th Avenue, New York, NY 10001
- Loan Value$64,500,000
- Asset TypeOffice
- Parties2 Brokers, 1 Agency
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Deal Summary
SALE
ADDRESS: 236 Fifth Avenue
DATE: 17th September, 2017
CITY: New York
MARKET: Manhattan
ASSET TYPE: Office
PRICE: $64,500,000
SF: 80,000
SELLER: Scott Chiou
BUYER: @kaufmanorganization Kaufman Organization
BROKER: @skylinepropertiesnyc Skyline Properties @robert_khodadadian & Daniel Shirazi
NOTES: 99-Year Ground Lease, Commences $10M Capital Improvement Program. The acquisition, Kaufman's eighth in Midtown South since 2010, reflects the firm's commitment to repositioning assets in the neighborhood, bringing to market best-in-class office spaces that cater to the influx of forward thinking industries yearning to call the area home.
@FredLeffel, President, Kaufman New Ventures; Grant Greenspan, Principal, Kaufman Organization; and @MichaelKazmierski, Principal and Director of Acquisitions, Kaufman New Ventures led the efforts in securing the 99-year ground lease on behalf of Kaufman. Thomas D. Kearns of Olshan, Frome and Wolosky served as the firm's counsel. @Robert_Khodadadian and Daniel Shirazi ( @Shiraziesq) of Skyline Properties served brokered the transaction. Samuel S. Lee and Kim Le, both Partners at Duval & Stachenfeld LLP, served as counsel for LCT Associates.
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