The Kaufman Organization has put its 27 West 24th Street property, which the company bought in 2012 for $55.5 million, up for sale.
Savills Studley will market the 125,000-square-foot, 11-story building, which is expected to ask around $95 million, or $760 per square foot, the New York Post reported. A recent $5.5 million renovation at the property added a new lobby, improved elevator cabs and upgraded the common hallways and air conditioning.
About 93 percent of the building is currently made up of below-market leases, about 60 percent of which will end before December 2016.
“This is the type of building that got the Midtown South party started,” Will Silverman of Savills Studley told the New York Post.Savills Studley to market Kaufman’s 27 West 24th Street
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New York City Office Sector Report (Q2 2014)