News:
Brokerage
Posted: June 10, 2025
GFP Real Estate sign two leases totaling 9,834 s/f
Manhattan, NY GFP Real Estate, LLC has signed two leases totaling 9,834 s/f at 505 Eighth Ave.
In the first transaction, In Record Time, Inc., a single source production agency focused on high-quality branded merchandising, signed a 10-year lease extension for its 5,202 s/f on the sixth floor. The company, which uses the space for its general and executive offices, first moved into the building in 2016.
Allen Gurevich of GFP Real Estate represented the landlord, GFP Real Estate, in the transaction; Cory Borg and Chris Mongeluzo of Newmark represented the tenant.
In the second transaction, BlackHawk Data LLC, a women-owned data analytics and IT consulting firm that provides data-driven solutions to businesses, signed a three-year lease for 4,632 square feet on the third floor, doubling its space within the building. The company, which first moved into 505 Eighth Ave. in 2021, will relocate from within the building, where it currently occupies 2,250 square feet on the 13th floor. BlackHawk Data’s new space was previously occupied by the nonprofit Jumpstart for Young Children.
Allen Gurevich of GFP Real Estate represented the landlord, GFP Real Estate, and the tenant in this direct transaction.
“We’re thrilled to accommodate the continued growth of both In Record Time and BlackHawk Data at 505 Eighth Ave.,” said Gurevich. “Tenants love this building for its prime location, great light, air, and views, as well as its easy access to transportation. Keeping these companies in the building and providing them with the space they need to expand is exactly what we strive for.”
505 Eighth Ave., originally known as the Hoover Building, was built in 1926 by the architect Chester James Storm. The 25-story, 275,000-square-foot 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.
Tags:
Brokerage
MORE FROM Brokerage
Liberow and Benshar of Asset CRG Advisors arrange $18.1 million ground lease transaction for 358 Flatbush Ave. development site
Brooklyn, NY Asset CRG Advisors recently facilitated the disposition of 358 Flatbush Ave., a Brooklyn development site situated at the intersection of Park Slope and Prospect Heights overlooking Grand Army Plaza and Prospect Park.
Quick Hits
Columns and Thought Leadership
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
Strategic pause - by Shallini Mehra and Chirag Doshi
Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
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,
AI comes to public relations, but be cautious, experts say - by Harry Zlokower
Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
