Kaufman Organization Tapped as Building Managers for 130 Prince

Daniel Edward Rosen — Thu, 21 Jun 2012 08:30:10 -0400

The Kaufman Organization has been tapped as the building manager for 130 Prince Street, a Soho property it previously owned before it sold it to Waterman Interests and J.P. Morgan Asset Management for $112 million in 2007.

Invesco Real Estate, the Dallas-based firm that purchased 130 Prince Street in May for $140.5 million, hired the Kaufman Organization based on its success transforming 100-104 Fifth Avenue into an office hotspot for tech giants like Yelp and Apple’s iAd division.

130 Prince Street (image courtesy of CoStar)

“I am basically here to... operate the property for them,” said Grant Greenspan, a principal at The Kaufman Organization. The Real Deal broke the news of The Kaufman Organization's hiring.

130 Prince Street currently has one vacancy that offers 3,550 square feet of contiguous space on the ground and basement floors of the property, according to CoStar data.

“They [Invesco] are going to give [the assignment] to a retail broker to rent,” said Mr. Greenspan. No brokerage firm has been named for the leasing assignment yet, he added.

When Waterman Interests sold 130 Prince to Invesco in June, company principal Tod Waterman said that the company had a “very defined business plan for the asset.”

“We executed on that and we significantly moved the cash flow in the building to a level at which we thought we had created that significant value and it was time to realize that for ourselves and our investors,” Mr. Waterman added.

drosen@observer.com

The Commercial Observer » Kaufman Organization Tapped as Building Managers for 130 Prince

Kaufman Organization Tapped as Building Managers for 130 Prince