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Kaufman/Adler hits the "next generation." (Kaufman/Adler Realty)

Kaufman/Adler Realty has been established by members of two highly-respected real estate families who have been actively involved in the business for many years. Steven Kaufman and Grant Greenspan, of the Kaufman Management Company, and Robert Savitt of The Adler Group, Inc., are part of New York real estate's dynamic "next generation."

With extensive experience managing family properties that include some of the Fashion District's premier showroom buildings, such as The Adler Group's 530 and 550 Seventh Avenue and notable West Side properties including Kaufman Management Company's Nelson Tower Building at 450 Seventh Avenue, as well as the Kaufman/Astoria Studios in Queens; the new firm has targeted the Fashion Center, West Side, and Midtown South, and their showrooms, offices, and lofts; and tenants who are likely to be predominantly in fashion, creative, and service businesses.

"Kaufman/Adler Realty is determined to serve the tenants in New York's critical fashion and creative industries and the owners of properties on the West Side and Midtown South with vision and the highest levels of professional service and integrity," said Robert Savitt. "As specialists in fashion and creative businesses, we anticipate the requirements of tenants and owners, and their needs for particular facilities and services. Our relations with tenants are characterized by the personal approach and meaningful involvement in their industries, and the buildings we own and manage have consistently attracted strong tenants who are leaders in their fields. We understand and share the entrepreneurial drive and concerns of New York's mid-sized businesses."

"The success of our family properties, and the almost-100 percent occupancy rate of our buildings, show that attention to quality, to people's needs, and the long-term perspective make a real difference," said Stephen Kaufman. "We are now bringing these high standards and results to owners who share our values. As owners ourselves, we know what owners expect and require. We will manage our client's buildings with the same dedication and professionalism that we manage our own, and we will spend their money with the same care we spend our own."

The Kaufman/Adler principals are founders and officers of the Fashion Center Business Improvement District and the 34th Street Partnership, two groups working to revitalize the fashion district. They take pride in their long-term relationships with other owners, tenants, industry and government leaders and service providers and know that these involvements help them work better as brokers and as property mangers.

The Kaufman/Adler brokerage department will be headed by Grant Greenspan.

"We can serve tenant requirements well because we are so involved in their industries and in the real estate marketplace. All tenants, regardless of size, will receive the highest levels of expertise and integrity. We will help them define their requirements, provide a survey of suitable spaces, analyze costs and all aspects of the lease, and negotiate the transaction that will best meet their needs," Greenspan said.

Both the Kaufman and Adler businesses were started early in the twentieth century by successful clothing manufacturers-turned real estate developers who pioneered in the development of the West Side and helped to create what came to be known throughout the world as "The Garment District." Their families have continued to own and manage many of the buildings they developed, and have participated in the area's growth and its current status as "The Fashion Center."

Louis Adler became well-known in 1928 after completing a 12-story, full block building on Varick Street for federal courts and offices. When the project was completed in slightly over one year, he returned $400,000 to the government, since costs came to less than the $8 million called for in the contract. His other projects included construction of 530 and 550 Seventh Avenue, which immediately became the most prestigious fashion buildings in the city.

The Kaufman Organization began in the early 1920s as developers of specialized buildings on the West Side for the textile and garment industries. In 1946, they acquired the distinctive Nelson Tower at 450 Seventh Avenue and made it their headquarters. The Kaufman Organization's senior partner, George S. Kaufman, has expanded its acquisitions with additional investments in office buildings, loft buildings, and apartment houses throughout the metropolitan area, including the Kaufman Astoria Studios in Queens, which helped to revitalize the film and television industries in New York.
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Publication:Real Estate Weekly
Date:Jun 12, 1996
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