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Moinian Group’s Flatiron Portfolio Leasing Strategy Pays Off

Commercial Observer | May 30, 2023

The Moinian Group owns and operates some of the most desirable Class A office and residential properties in New York City. Recently, the company has also had resounding success with a portfolio of seven nid-block properties concentrated in the Flatiron District, including mixed-use office and retail at 53-55 West 21st Street, 29 West 17th Street, 10 West 18th Street, 147 West 24th Street, and 37-39 West 17th Street; and mixed-use residential and retail properties at 54 West 22nd Street and 12 East 18th Street. The success of this portfolio is no accident, as Moinian has subverted the traditional approach to office leases by offering furnished spaces with shorter, more flexible lease terms. Partner Insights spoke with Ted Koltis, executive vice president, Commercial Leasing for Moinian, about the company’s success in the Flatiron District.

Commercial Observer: What are some of the notable aspects of Moinian’s Flatiron portfolio that make it stand out in today’s market?

Ted Koltis: Our Flatiron portfolio is very unique for a landlord of our size. These are five- to seven-story elevator buildings on side streets in the Flatiron District, seven buildings totaling about 163,000 square feet. Two are residential and five are office. It’s unique because large landlords that have large Class A attended-lobby-type office properties like we do generally do not also have assets of this size. For us, these assets are close to our DNA, as Joe Moinian has been investing in Midtown South for over 40 years. We’ve developed a strategy for these properties with smaller tenants, who are happy to have their own floors in buildings like these.

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