Real estate developers The Kaufman Organization recently leased four buildings in Nomad from Extell Development Company (who bought the buildings from the notorious Ring brother’s portfolio) and is gutting the interiors to make contemporary office space for tech companies and startups, reports the New York Times.
The half forgotten and nearly vacant buildings at 13 West 27th Street, 119 West 24th Street, 19 West 24th Street, and 45 West 27th were part of a portfolio of 15 buildings owned by F. M. Ring Associates, whose buildings were allegedly half empty and in disrepair for years, even as the real estate market in the area boomed.
The spaces will feature open floor plans and will be wired-up, and climate controlled, with electrical backups and energy monitoring. The first two buildings (on 24th Street) are slated to be ready by the fall.
The Flatiron, Nomad, and Madison Square Park areas have been hubs of startup and tech activity in the city and country, with Spotify, Mashable, Yelp, tumblr, PRUnderground.com, eBay, GroupMe, Yext, and Movable Ink, all in the area among hundreds of other startups. In fact 10010 is top zip code for startups says Center for an Urban Future.
“Companies are drawn here because they want an ecosystem to live, work and play,” said Jamie Katcher, a Cushman senior director. “Among the attractions, he added, are Eataly, the Italian market, and the Ace Hotel, which also has a Stumptown cafe and restaurants, along with the refurbished Madison Square Park.”
Read the full New York Times Story at A Prime Portfolio in Manhattan, Coming Back to Life.
Developers The Kaufman Organization to create 4 tech ready office buildings in Nomad,