The Kaufman Organization Announces Five Lease Renewals Totaling over 13,500 SF at 450 Seventh Avenue

6/1/16

The Midtown Office Building Continues to be 100% Occupied with 520,000 SF Leased

The Kaufman Organization (Kaufman), a full-service commercial real estate firm, announced today that it has secured five lease renewals at Nelson Tower, 450 Seventh Avenue totaling 13,545 square feet. With these renewals, the office building remains to be 100% occupied.

“We are pleased that longtime tenants have decided to continue to grow their business at 450 Seventh Avenue,” said Steve Kaufman, president at Kaufman. “The building’s expansive city views and prime location in central Midtown Manhattan have attracted tenants from a variety of industries, and the recent lease renewals are evidence of the building’s highly desired features.”

Tenants at the Kaufman building who recently renewed leases, include Insight Strategy Advisors, LLC, Jessilyn Personnel, Inc., Spear Physical Therapy, Fagenson & Puglisi, PLLC, and Toscano & Associates.

Asking rents were in the high $50’s range per-square-foot for each transition. Additional details of each transaction at 450 Seventh Avenue are below:

  • Insight Strategy Advisors, LLC, a management and strategy consulting firm specializing in healthcare and life sciences renewed its6,141 square foot space for an additional three years. Landlord will soundproof conference rooms and an executive office space as well as painting and installing new carpeting. Kaufman’s Steven Kaufman, Barbara Raskob and Yvonne Chang represented the landlord, 450 7th Ave. Associates, LLC; Timothy Freydberg of CBRE Group, Inc. represented tenant.
  • Jessilyn Personnel, Inc., among New York City’s top apparel executive search firms with over 28 years of expertise recently renewed their 1,092 square foot lease for an additional five years. Raskob represented the landlord.
  • Spear Physical Therapy, a sports performance enhancement and rehabilitation center extended their 2,556 square foot lease which was assigned from Orthology, Inc. at 450 Seventh Avenue for five years. Raskob also represented landlord in this transaction.
  • Fagenson & Puglisi, PLLC, a well-respected law firm has signed on for five additional years in its 2,328 square foot space; the firm has been located at Kaufman’s property for 13 years. Landlord is installing new carpets and painting the space. Raskob represented landlord.
  • Toscano & Associates, a law firm specializing in various areas of the law, has renewed its 1,445 square foot lease on the 19th floor for three additional years, since originally moving into the building in 2009. Raskob represented landlord.


450 Seventh Avenue has begun a major renovation of the building’s common hallways and bathrooms; phase two of the upgrade will be the renovation of lobby and elevators. The building provides modern office spaces equipped with state-of-the-art communication infrastructure and amenities. Located in a bustling neighborhood, the tower is a part of the transit triangle and is close proximity to major subway lines as well as Penn Station, the PATH, Port Authority, and Grant Central Terminal.

For more information regarding 450 Seventh Avenue, please visit http://www.kaufmanorganization.com/ or contact Steven Kaufman at (212) 471-4311 or SKaufman@kaufmanorganization.com, or Barbara Raskob at (212) 471-4317 or BRaskob@kaufmanorganization.com, or Yvonne Chang at (212) 471-4329 or Yvonnec@kaufmanorganization.com.

About The Kaufman Organization

With over 100 years of experience and six million square feet of owned or managed space, Kaufman Organization has long been considered one of the most prominent and well-respected real estate companies in the New York metropolitan area. The company offers a fully integrated spectrum of leasing and management services to diverse owners and tenants and is continually looking to build its portfolio through property acquisitions.www.kaufmanorganization.com

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