Kaufman broadcasts BBC lease.

The Kaufman Organization brokered a five-year lease for the British Broadcasting System (BBC), who's mission is to "enrich peoples lives with programs and services that inform, educate and entertain." According to Daniel Lipton and Peter Pacific of the Kaufman Organization, who represented the tenant in the transaction, BBC signed a lease for 7,000 s/f of TV production space at 251 Park Ave South.

Frank K. Ring of FM Ring Associates represented the landlord in the transaction. Although the terms of the lease were undisclosed, the asking price for the space was $55 psf. The tenant's new space will be used for the production of television programs.

"BBC is on the rise with a number of up and coming hit TV programs and wanted a large space for television production," said Lipton. "We were able to find a large space at 251 Park Ave South with existing TV production installation and hope that this location assists in their continued success."

Founded in London in 1922, BBC was the only television broadcaster in the UK until 1955 and the sole legal radio broadcaster until 1973.

BBC is currently the world's largest broadcast news corporation based on audience viewership and provides radio and television services as well as mobile news services to cell phones and PDA's.