News
KAUFMAN ORG’S NEW CENTURY; LOAN SALE SUCCESS
August 11, 2009
| It’s been 100 years since The Kaufman Org. founder Samuel Kaufman purchased his first building at 45 East Broadway. (Back when LEED stood for "Laugh! Eat! Entertain! Depression?) Three generations later, we dropped by the firm's Seventh Ave. office to chat with prez Steven Kaufman (bottom left) and, clockwise, partners Michael Heaner, Michael Kaufman, and Grant Greenspan. |
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| These men weren't here a century ago, but the company success secrets must travel well: it owns and/or manages 6M-SF in NYC, mostly in office, with some retail and residential; its largest recent assignment is the 1.1M-SF 1407 Broadway. The long-term holder (it still owns a Bronx apartment building it purchased in 1918) is now looking to acquire property on the ownership, leasing, and third-party management side, especially as more distressed buildings come to the market. It’s focusing efforts on Class B/B+ and C+, and although its product is mostly in Midtown proper, it’s not limiting itself. |
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| The leasing division is also busy as tenants take advantage of the market, like Loyaltex (with a name like that, do you need a contract?), which signed a 10-year, 17k-SF lease at 132 West 36th St. (apparently, yes). They tell us that the division is investing in its people, hiring professional sales coaches to help employees improve their strategy, planning, and execution skills. Steven notes that, unlike many other companies, the firm’s been recruiting brokers from downsized firms and providing them with the necessary support needed to succeed in this office leasing market. |
