Kaufman signs 99-year ground lease in Chelsea valued at $34.5M

The Kaufman Organization through its 135 W 29 Leasehold Owner, LLC, as tenant, signed a memorandum of lease valued at $34.5 million with landlord MFM Properties for 1 parcel, including the tax class office building with commercial with seven to 19 stories (O6) at 135 West 29th Street in Chelsea. The memorandum was signed on March 24, 2021 and was recorded on April 1, 2021
The property contains a total of 70,862 square feet of built space. The building is known as the Haymarket Building.
Kaufman Organization signed a 99-year ground lease with MFM, composed of Ilan Mosery, Pankaj Mistry and Barbara Mirin Feldman. The Commercial Observer reported that the brokers were Skyline Properties’ Robert Khodadadian and Daniel Shirazi. The signatory for the buyer was Steven J. Kaufman and Edward J. Hart.
Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $1,000.0. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $276,450.

Direct link to Acris document. link