{"id":13017,"date":"2017-09-14T09:45:49","date_gmt":"2017-09-14T09:45:49","guid":{"rendered":"https:\/\/www.commercialcafe.com\/blog\/?p=13017"},"modified":"2025-03-25T14:41:20","modified_gmt":"2025-03-25T11:41:20","slug":"kaufman-nabs-midtown-ground-lease","status":"publish","type":"post","link":"https:\/\/www.commercialcafe.com\/blog\/kaufman-nabs-midtown-ground-lease\/","title":{"rendered":"Kaufman Nabs Midtown Manhattan Ground Lease"},"content":{"rendered":"
\"236<\/a>

236 5th Ave (Yardi Matrix)<\/em><\/p><\/div>\n

The Kaufman Organization, one of New York City’s most affluent commercial real estate investors, has acquired a 99-year ground lease on the property at 236 Fifth Avenue<\/a>.<\/p>\n

This deal, negotiated with property owner LCT Associates, is reportedly<\/a> valued at $64.5 million and was closed on August 31st, according to documents filed with the city. Marking Kaufman’s eighth Midtown South acquisition in the past seven years, the NoMad office building<\/a>‘s eleven stories include retail and encompass roughly 65,000 square feet of commercial and office space.<\/p>\n

Bearing out the firm’s commitment to reposition assets in the neighborhood and bring to market best-in-class Midtown Manhattan office spaces<\/a>, Kaufman plans to invest over $10 million in capital improvements, in order to transform the property into a “state-of-the-art office destination.” Upgrade plans include a completely renovated lobby, new plumbing, electrical and HVAC systems, upgraded elevators, as well as an increase to the building’s technical capabilities by installing state-of-the art fiber optic\/telecommunications risers.<\/p>\n

Kaufman will exclusively handle leasing and managing of the building. Drawing from the experience of past successes, the marketing team will execute a rebranding campaign, which will include an interactive website for the property, a dedicated social media page, and advertising initiatives that will market the building to specific high growth office tenants.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Kaufman Organization, one of New York City’s most affluent commercial real estate investors, has acquired a 99-year ground lease on the property at 236 Fifth Avenue. This deal, negotiated with property owner LCT Associates, is reportedly valued at $64.5 million and was closed on August 31st, according to documents filed with the city. Marking…<\/p>\n","protected":false},"author":48,"featured_media":13018,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[37,38,39],"tags":[],"class_list":["post-13017","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial-real-estate-news","category-deals","category-office","wpautop"],"acf":[],"yoast_head":"\nKaufman Nabs Midtown Manhattan Ground Lease - CommercialCafe<\/title>\n<meta name=\"description\" content=\"The Kaufman Organization seizes yet another office property prime for repositioning, increasing its Midtown portfolio with a 99-year ground lease on a NoMad gem\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialcafe.com\/blog\/kaufman-nabs-midtown-ground-lease\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kaufman Nabs Midtown Manhattan Ground Lease\" \/>\n<meta property=\"og:description\" content=\"The Kaufman Organization seizes yet another office property prime for repositioning, increasing its Midtown portfolio with a 99-year ground lease on a NoMad gem\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialcafe.com\/blog\/kaufman-nabs-midtown-ground-lease\/\" \/>\n<meta property=\"og:site_name\" content=\"CommercialCafe\" \/>\n<meta property=\"article:published_time\" content=\"2017-09-14T09:45:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-03-25T11:41:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/09\/shutterstock_568557670Sign-of-subway-5th-Ave-Station_resized.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1111\" \/>\n\t<meta property=\"og:image:height\" content=\"369\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ioana Ginsac\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ioana Ginsac\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialcafe.com\/blog\/kaufman-nabs-midtown-ground-lease\/\",\"url\":\"https:\/\/www.commercialcafe.com\/blog\/kaufman-nabs-midtown-ground-lease\/\",\"name\":\"Kaufman Nabs Midtown Manhattan Ground Lease - 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