Manhattan, NY GFP Real Estate today negotiated two office leasing transactions totaling 5,082 s/f at 630 Ninth Ave., underscoring continued demand for efficient, well-located office space on the city’s Far West Side.
In the first transaction, Neoteny Studios signed a two-year lease for 1,247 s/f in Suite 700, relocating to the building for its new office headquarters. The tenant will occupy newly improved space featuring upgraded building-standard finishes and LED lighting.
In the second transaction, ROCK Architecture & Engineering Corp., an existing tenant, signed a three-year lease amendment to relocate and expand into a larger 3,835 s/f office on the 10th floor, reflecting the company’s continued growth and long-term commitment to the building.
Located between West 44th and West 45th Sts., 630 Ninth Ave. offers access to Times Square, Hudson Yards, the Port Authority Bus Terminal and Penn Station, providing tenants with connectivity throughout the New York metropolitan area.
Matthew Mandell of GFP Real Estate represented ownership in both transactions. Both direct leases were completed without outside brokerage representation, reflecting GFP Real Estate’s hands-on leasing approach.
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,