Manhattan, NY GFP Real Estate, LLC completed four new lease transactions totaling 12,450 s/f at 505 Eighth Ave. in Midtown.
“We have continued to see more lease extensions and overall growth at 505 Eighth Ave.,” said Allen Gurevich, senior managing director of GFP Real Estate.
In the first transaction, Greystone & Co. renewed its lease of 7,400 s/f on the 3rd floor for an additional five years. The tenant signed directly with the landlord, GFP. Allen Gurevich of GFP Real Estate represented the landlord, GFP Real Estate and the tenant.
In the second transaction, Construction Technology Laboratories, Inc. (CTLGroup) signed a five-year lease for 2,300 s/f on the 7th floor. Stephen Sunderland of Optimal Spaces represented CTLGroup, while Gurevich represented the landlord.
In the third transaction, RentQuest signed a three-year lease for 900 s/f on the 10th floor. Donna Vogel of GFP represented the tenant, while Gurevich represented the landlord.
In the fourth transaction, Richmond Home Need Services renewed its lease of 1,850 s/f on the 12th floor for an additional five years. The tenant signed directly with the landlord, GFP. Gurevich represented the landlord.
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 for convenient and secure 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.
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