Digital printing company Printech Business Systems will remain in its third-floor space at the Kaufman Organization‘s 519 Eighth Avenue through a 10-year, 16,000-square-foot renewal at the property, Commercial Observer has learned.
The company that has long operated its retail and offices onsite will remain in the space between West 35th and West 36th Streets where asking rents run in the $40s per square foot, Kaufman officials said.
“Printech is a company that has experienced very rapid growth—doubling its workforce and tripling its revenue in a very short amount of time,” said Steve Kaufman, president of the Kaufman Organization, in a prepared statement. “When the firm relocated to its current full-floor space at 519 Eighth Avenue in 2004, it did so with an eye towards the future. Printech has an abundant amount of space which allows it to continue growing without sacrificing room dedicated for machinery, its graphic design department and staging areas—decision makers even built out a client lounge, fully equipped with televisions and a pool table.”
Mr. Kaufman and Kaufman director of leasing Barbara Raskob represented the landlords in the deal, but Kaufman officials declined to name any brokers who negotiated on behalf of the tenant.
Fellow tenants such as Legacy Builders, Pearl Studios NYC, Vanguard Direct and Teach for America have filled the 26-story, 349,000-square-foot building to capacity, Kaufman officials noted.