NEW YORK—The Kaufman Organization has paid approximately $55.5 million to acquire 27-35 West 24th Street in Manhattan’s Flatiron District. Kaufman New Ventures, a division of the Kaufman Organization, spearheaded this acquisition with Fred Leffel, president of Kaufman New Ventures; Grant Greenspan, a Kaufman principal and head of leasing, and Michael Giglio, chief financial officer and director of acquisitions for Kaufman management leading the effort.

Constructed in 1914, 27–35 West 24th Street totals 120,000 sq. ft. of space and stands 11 stories high. The office building property is located between Fifth and Sixth avenues.

Grant Greenspan, Loren Biller and Ian Norris of the Kaufman Organization will be the exclusive leasing and managing agents for the building.

Kaufman has earmarked $2.5 million for a capital improvement program at the building, which includes lobby renovations, and upgrades to elevators and building infrastructure.