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Brokerage
Posted: July 25, 2023
GFP Real Estate and Lee & Assocs. lease 2,457 s/f at 505 Eighth Ave.
Manhattan, NY Allen Gurevich, senior managing director of GFP Real Estate represented the landlord, GFP Real Estate in Counseling In Schools lease extension at 505 Eighth Ave. in Midtown, signing a seven-year lease for its existing 2,457 s/f space on the 13th floor.
Lisa Ann Pollakowski of Lee & Associates represented the tenant. Although the terms of the transaction were undisclosed, asking rents at the building start in the low $40s per s/f range. Counseling In Schools first moved into the building in 2012.
“Counseling In Schools is one of the most important organizations serving the New York City school system today. We are thrilled to see the non-profit extend its lease at 505 Eighth Ave., which offers a centralized, convenient location for its staff citywide,” said Gurevich.
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 that is attended 24/7 and offers keycard access at all hours of the day. 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 and W subway lines which complement the commute to and from the building.
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