99-Year Ground Leases on Four NYC Office Buildings
Kaufman Organization
Represented the Kaufman Organization in a joint venture with Principal Life that executed 99-year ground leases on four New York City office buildings from Extell Development in a deal valued at approximately $135 million. The properties are located at 119-125 West 24th Street; 13-15 West 27th Street; 19-21 West 24th Street; and 45-47 West 27th Street. The buildings were part of the portfolio owned until recently by Michael and Frank Ring.