Atrium advised on this $26.5M acquisition of an existing building directly across from Kaufman Astoria Studios, helping shape the business plan: expanding the existing floor plates and adding additional stories, roughly 51,500 SF in total, to reposition the property into a Class A loft office building. The firm conducted highest-and-best-use analysis and obtained lease comparables, sale comparables, and debt quotes to inform the business plan and investment memo, and advised on purchase price, deal terms, and the structure offered to incoming equity.