135 West 29th Street
Transaction Overview
135 W. 29th St. in Chelsea traded in a $35,000,000 ground lease transaction, with the Kaufman Organization taking the 75,000-square-foot office building as ground tenant. Summary of transaction details: Property Type: Office Transaction Amount: $35,000,000 Address: 135 W. 29th St. Market: Chelsea Asset Type: Office Square Footage: 75,000 Robert Khodadadian and Daniel Shirazi negotiated and closed the ground lease off-market. The structure is tax-efficient for both sides. Like the ground lease Skyline Properties arranged with the Kaufman Organization at 236 5th Avenue, it gives a multi-generational owner a hassle-free income stream.
Property Details
Transaction Value
$35M
Square Footage
75,000 SF
Price per SF
$467
Year Closed
2021
Asset Type
Office
Deal Type
Ground Lease
Property Type
Office Building - 99 Year Ground Lease
Location
New York
Transaction Parties
MFM Properties
Press Coverage
Commercial Observer
The Real Deal
Crain's New York Business
CP Executive
Bisnow
New York, NY
40.7474, -73.9915
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Press Coverage
Press citations: 135 West 29th Street
5 press features covering the $35M transaction.
Kaufman Organization Closes on $35M Haymarket Building Ground Lease
Landmark ground lease with The Kaufman Organization in NoMad. Daniel Shirazi's signature deal. Over $800 per SF. Kaufman Organization has acquired a 99-year ground lease on the historic Haymarket Building at 135 West 29th Street for $35 million.
Kaufman Org Closes on $35M Ground Lease Deal
Kaufman Organization closes 99-year ground lease at 135 West 29th Street (Haymarket Building).
Kaufman Organization Inks $35M 99-Year Ground Lease
Kaufman Organization closes 99-year ground lease on Haymarket Building at 135 West 29th Street.
Kaufman Org Closes $35M Manhattan Ground Lease
Kaufman Organization closes 99-year ground lease on Haymarket Building at 135 West 29th Street for $35 million.
Kaufman Organization Haymarket Ground Lease $35M
Kaufman Organization closes $35M ground lease on Haymarket Building.