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The Kaufman Organization Secures 7,200 Square-Foot Lease for PEX Card at 462 Seventh Avenue

NEW YORK (April 9, 2015) – The Kaufman Organization, which specializes in the leasing and management of premier office space in New York City, has announced that PEX Card signed a five-year, 7,200-square-foot lease for office space at 462 Seventh Avenue.

PEX Card is corporate prepaid card company launched specifically to help small and mid-sized companies, ranging from commercial contractors to financial services professionals, streamline employee expense management. Founded in 2007, PEX Card is the prepaid card industry’s first turnkey commercial card program – its prepaid VISA card program provides customers with online tools for budgeting and controlling prefunded deposits that employees use for daily spending. PEX Card is committed to making card-based payments common in the workplace by introducing useful products that companies of any size can access easily and economically.

“The full-floor space at 462 Seventh Avenue allows PEX Card to expand its operations and provides it with the flexibility to accommodate future growth. The central Garment District location is easily accessible via a number of public transportation hubs, which enables the company to strengthen client relationships while establishing new ones,” said Jared Sternberg, associate at the Kaufman Organization.

PEX Card will be housed in a newly built-out floor that offers Empire State views and Eastern, Southern and Western exposures. Although the terms of the lease were undisclosed, the asking rent for the space was in the high $40’s per-square-foot. Steven Kaufman, president of the Kaufman Organization, Barbara Raskob, director of leasing and Yvonne Chang, associate, represented the landlord; Mr. Sternberg and Michael McCloskey, associate at the Kaufman Organization represented PEX Card.

“PEX Card fits well with the existing tenants at 462 Seventh Avenue, which is becoming a destination for social entrepreneurs, non-profit organizations and small-business innovators,” said Mr. Kaufman. “The Kaufman Organization has been committed to fostering a creative atmosphere that allows tenants to grow without sacrificing their core values.”

462 Seventh Avenue, built in 1925, is a 23-story building in the Garment District. The 185,000-square-foot structure features a renovated modern lobby, 24/7 access and a shared entrance with 470 Seventh Avenue. Its tenant roster includes Hale and Hearty and Starbucks on the ground floor, and Infinity Consulting Solutions, SNAP Interactive, Echoing Green and Granite Telecommunications on the floors above.

The Kaufman Organization, with over 100 years of experience and 6 million square feet of owned or managed space, has long been considered one of the most prominent and well-respected real estate companies in the New York metropolitan area.  The company offers a fully integrated spectrum of leasing and management services to diverse owners and tenants and is continually looking to build its portfolio through property acquisitions. http://www.kaufmanorganization.com