Legacy Builders Signs Long-Term Lease on Eighth Ave.

Legacy Builders Signs Long-Term Lease on Eighth Ave.

NEW YORK—Legacy Builders has signed an 11-year, 9,020-sq.-ft. lease at 519 Eighth Ave. where it will occupy most of the seventh floor. Steven Kaufman and Barbara Raskob of the Kaufman Organization represented the landlord in the transaction, while Michael Frantz of Newmark Grubb Knight Frank represented the tenant. Terms of the lease were undisclosed.

Constructed in 1927, 519 Eighth Ave. is a 26-story building located in Manhattan’s Garment District. With the Legacy Builder lease, the 349,000-sq.-ft. building is 100 percent occupied. Other tenants at the property include Pearl Studios NYC, Vanguard Direct, Teach for America and Thyssen Krupp Elevator Corp.

“Legacy Builders is expanding at a rapid rate and was looking to move into a larger space to accommodate this growth,” said Kaufman. “The firm was attracted to 519 Eighth Ave. because it is close to major transportation hubs such as Penn Station and Port Authority, making it a seamless commute for their employees. Legacy Builders will use their own contracting services to renovate the space; plans include adding offices and conference rooms.”

Legacy Builders offers pre-construction, general contracting and construction management services, including budgeting/estimating, inspections for certificate of occupancy and financial reporting.

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