Printer Friendly

Partnership for Homeless buys condominium space.

The Partnership for the Homeless has purchased a home for itself. The advocacy group for the homeless will relocate and expand into a 12,140-square-foot commercial condominium at 305 Seventh Avenue in order to take advantage of tax benefits available for non-profit organizations that own property in New York City.

Helmsley-Spear's Howard J. Tenenbaum, vice president, and Gary M. Rosen represented the Partnership in its search for space.

305 Seventh Avenue specifically targets non-profit organizations. The 20-story, 156,000-square-foot property is located on the corner of West 27th Street and currently has eight such tenants in commercial condominium space. Because these companies are non-profit, New York City charges no real estate tax.

The Partnership for the Homeless will occupy the entire 14th floor and a portion of the 13th floor. In addition, the Partnership was given the option to purchase an additional 4,000 square feet of contiguous space. The Partnership formerly leased smaller offices at 110 West 32nd Street. Specifiic terms of the transaction were not made available.

Dewey Ballantine provided legal representation for the purchaser. The sponsor, 301-5 Seventh Avenue Associates, was represented by Brian Waterman and Barbra Yagoda of Newmark & Company Real Estate Inc. Legal representation for the sponsor was provided by Goldberg, Weprin & Ustin.
COPYRIGHT 1993 Hagedorn Publication
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:305 Seventh Avenue, New York, New York
Publication:Real Estate Weekly
Date:Mar 17, 1993
Previous Article:Residential incinerators outlawed after June 28.
Next Article:3 retail tenants placed.

Related Articles
Non-profit purchases space at 305 7th Ave.
Non-profit purchases space.
Helmsley-Spear places Epilepsy Society of NY.
Changes afoot in world of non-profits.
The Cove Club.
Douglas Elliman.
Time Equities, Inc.
Rose Assoc. named agent for Metropolitan Tower.
Cooper-Horowitz, Inc.

Terms of use | Privacy policy | Copyright © 2020 Farlex, Inc. | Feedback | For webmasters