GFP Real Estate completes trio of office transactions at 515 Madison Ave.

Manhattan, NY GFP Real Estate closed three office lease transactions totaling 8,883 s/f at 515 Madison Ave., continuing leasing momentum at the landmark Plaza District office tower and further diversifying its tenant roster with firms in the investment management, healthcare and legal sectors.

Martin McGrath and Kephra Stone of GFP Real Estate represented the landlord in all three transactions.

The transactions include:

• T7 Capital, an investment management firm, signed a new five-year lease for 3,956 s/f on the 29^th floor. The space was previously occupied by Longacre Asset Management. Michael Beyda and Joel Kubie of Benchmark Group New York LLC represented the tenant.

• Innovation Training Specialist LLC, a healthcare-related training provider, signed a new 10-year lease for 3,046 s/f on the fifth floor of the building. Max Vizgalin of OfficeNYC.com represented the tenant.

• Widowski Law Group LLP signed a five-year extension and relocation within the building, moving from the fifth floor to 1,881 s/f on a portion of the 27^th floor. The direct lease transaction allows the longstanding tenant to right-size its footprint while remaining at 515 Madison. 

“These transactions demonstrate the continued appeal of 515 Madison to a wide range of businesses seeking high-quality office space in one of Manhattan’s premier business districts,” said Stone. “We’re seeing demand from both new tenants entering the building and existing tenants choosing to renew and expand their long-term relationship with us. Combined with our recent refinancing of the property and strong leasing velocity, these leases reinforce the building’s position as one of Midtown’s most sought-after boutique office destinations.”

515 Madison continues to benefit from sustained leasing activity as companies prioritize premier locations, efficient floor plates and ownership committed to investing in the tenant experience. The building’s diverse tenant roster spans finance, legal, healthcare, professional services and technology companies.

Built in 1932 and known as the DuMont Building, 515 Madison is a 42-story, 370,000 s/f class A building designed by John Carpenter. One of the building’s most distinctive features is a broadcasting antenna that traces back to the building’s role in the first television broadcasts of Allen DuMont’s experimental television station W2XWV in 1938. This building’s careful restoration of its renovated entrance and lobby in 2009 kept its beautiful architectural elements intact yet modernized for today’s tenants.

Located south of Central Park, 515 Madison provides access to a multitude of dining options and well-known landmarks like the New York City Center for Performing Arts, Carnegie Hall and Rockefeller Center, which are all just a short walk away. The E and M trains are located in the building and the 6 train is only a block away, providing convenient transportation options.