Manhattan, NY GFP Real Estate, LLC negotiated two leases totaling 5,666 s/f at 515 Madison Ave.
Kayser & Redfern, LLP signed a seven-year lease renewal for its existing 3,956 s/f on the 31st floor. Martin McGrath of GFP represented the landlord, GFP Real Estate; Sam Matayev of Norman Bobrow & Co. represented the tenant.
Alpha Properties Group Corp. signed a lease renewal for 1,710 s/f on the 30th floor. McGrath of GFP represented the landlord, GFP Real Estate. Amy Elliot of Alpha Props. Group represented the tenant.
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,