Media Reports on $92 Million Office Building Sale Led by Kearns

Crain’s New York Business, The Real Deal and GlobeStreet.com reported that Olshan’s client, Kaufman Organization, has sold an 11-story office building located at 27 West 24^th Street in the Flatiron district for $92 million. In December 2012, Kaufman and affiliates of Lubert Adler Management purchased the office building for $55 million. The increase in the building’s value was the result of a $2.5 million in capital improvements that Kaufman placed in the property and an aggressive leasing program. Thomas Kearns, with assistance from Hyman Kindler, represented the seller.