Cimbali USA and Hästens at The Sleep Spa sign new leases at GFP Real Estate’s 505 Eighth Avenue

Manhattan, NY GFP Real Estate, LLC negotiated two new leases totaling more than 5,000 s/f at 505 Eighth Ave., further expanding the building’s growing roster of high-end retail and showroom tenants.

In the first transaction, Cimbali USA, Inc., the American sales and showroom division of the world-renowned Italian coffee and espresso machine manufacturer, signed a new three-year lease for 2,400 s/f on the ninth floor. The space will serve as Cimbali’s New York showroom and hub for showcasing their premium espresso machines.

GFP Real Estate will complete a build-out that includes the installation of copper water lines, shutoff valves and other plumbing/electrical components to support the company’s nine high-end coffee machines. The space was previously occupied by Metro Computer Services Group.

In the second transaction, VRt Ventures LLC, d.b.a. Hästens at The Sleep Spa, signed a three-year lease for 2,615 s/f on the seventh floor. The Swedish luxury bedding brand will use the space as a combination executive office and showroom offering customers a premium experience aligned with Hästens’ high-end heritage.

Allen Gurevich of GFP Real Estate represented the landlord in both transactions. Josh Winslow of Winslow & Company represented Cimbali USA while Aaron Harounian of Meridian Retail Leasing represented VRt Ventures LLC.

“These two leases highlight the growing demand for high-touch experiential showrooms and office spaces in Midtown,” said Gurevich. “Cimbali and Hästens both bring world-class reputations to 505 Eighth and we’re excited to welcome them to the building.”

505 Eighth Ave., originally known as the Hoover Building, was built in 1926 by the architect Chester James Storm. The 25-story, 275,000 s/f building features a modernized, 24/7 attended lobby and offers keycard access for convenient and secure access. 

Situated on the Northwest corner of Eighth Ave. and 35th St., 505 Eighth Ave. is located one block away from Penn Station, with links to the A, C, E, 1, 2, and 3 subway lines, NJ Transit Trains, LIRR and Amtrak. Additionally, only a few blocks away are links to the B, D, F, M, N, Q, R, W subway lines which complement the already easy commute to and from the building.