February 18, 2016 Deals
Kaufman Brings New Life To NoMad’s Great Buildings

The Kaufman Organization develops the Madison Square Portfolio and gains new NoMad tenants

 

The first-class real estate market that NoMad has become is drawing diverse new tenants. The latest round of newcomers includes the established Anheuser-Busch, shared workspace upstart AlleyNYC, medical artificial intelligence developers AiCure and the architecture and design firm Fernando Romero. The business scene in NoMad grows more dynamic by the day, especially in the highly sought-after TAMI sector (technology, advertising, media and information technology businesses). NoMad can thank its location, architectural and natural beauties, and dining and nightlife scenes for attracting many tenants. However, this particular group of new companies also demonstrate why continued investment in NoMad’s world class buildings is so critical.

These four exciting new NoMad neighbors are housed in four buildings (119 W 24th, 13 W 27th, 19 W 24th and 45 W 27th) that were formerly part of the Ring portfolio. The buildings were acquired, renovated, and revitalized by The Kaufman Organization, which invested $33 million in the four properties since 2014. The buildings have been rebranded collectively as the Madison Square Portfolio, employing the latest in building design and technology to attract members of the start-up creative class and Blue Chip companies alike.

Typical of the ultra modern approach being applied to the classic architectural gems of NoMad, well-known architects, artists, engineering firms as well as heating and plumbing specialists were engaged by Kaufman to build on the strengths of these four irreplaceable buildings of the past and then reinvent them for NoMad’s new businesses.

Special attention was paid to broadband, security, and connectivity redundancies to meet the needs of tech firms. And there are also some of the latest technologies that allow tenants to restrict floor access for security reasons and to monitor electrical usage. Skott Marsi, well-known graffiti artist, was commissioned to create 70 distinct pieces of art for the elevator lobbies, and the ground floor entrances include architectural and environmental installations that add to the Madison Square Portfolio’s unique branding.

“As a result of our strategic rebranding efforts, we have seen robust interest from a diverse group of companies looking for space in the Madison Square Portfolio,” Grant Greenspan of the Kaufman Organization told New York Real Estate Journal.

The vibrancy of NoMad, its excellent building infrastructure, and the vision of its developers will certainly continue to win over other great companies, such as recent arrivals like Soundcloud, Sony and Dropbox. We’ll continue to keep you updated on new arrivals.

In the meantime, we welcome the new Madison Square Portfolio tenants to the neighborhood and look forward to those still to come! 

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