Introducing the Club Row Building: New Landlord APF Moves

If anything inspires confidence that a building’s aging elevators will be taken care of, it’s knowing that the landlord is moving in.

APF Properties is moving from just a block over and expanding into 5,000 square feet for 10 years at 28 West 44th Street—a building, mind you, it just acquired from SL Green for $161 million.  “We’re embarking on a huge capital improvement and leasing program,” Kenneth Aschendorf of the landlord told The Commercial Observer. “We’re going to be renovating all of the common areas, as well as the elevator cabs, bathrooms and windows.” The asking rent ranges from the $40’s to the $50’s in the building, which is 87 percent leased.

David Rosenbloom, Joshua Goldman, Jonathan Fales and Michael Blanchard, all of Cushman & Wakefield, were also named leasing agents for the building.

In perhaps our favorite twist, the 367,000-square-foot building two blocks from Grand Central will be renamed “The Club Row Building.” If that doesn’t quite scream desirable office space to you, keep in mind that the clubs we’re referring to are the Harvard, New York Yacht, Cornell, Princeton and Penn ones.

Moreover, APF is undergoing something of a transformation itself, more than doubling the size of its space and hiring two new staffers, to bring its total number of employees to nine. “We definitely plan on growing more,” Mr. Aschendorf said. “We’re eyeing all of the properties that are on the market now.”

Introducing the Club Row Building: New Landlord APF Moves