GFP Real Estate signs more than 43,000 s/f in new leases at 520 Eighth Ave.

Manhattan, NY GFP Real Estate, LLC negotiated a series of new lease transactions at 520 Eighth Ave. totaling more than 43,000 s/f, underscoring continued demand for well-located, efficient office space in Midtown.

“520 Eighth Ave. continues to resonate with a wide range of tenants — from cultural institutions and nonprofit organizations to professional services firms and innovative storage concepts — seeking quality space in a highly accessible Midtown location,” said Matthew Mandell, senior managing director at GFP Real Estate. “The building offers the flexibility, connectivity and long-term value that today’s tenants prioritize, and we’re proud to continue supporting both new and existing tenants as they grow.”

Mandell represented ownership in each of the following transactions unless otherwise noted:

• The Shubert Organization Inc., one of the largest theater owners on Broadway, signed an 11-year lease for 14,480 s/f on the 11^th floor. The company, which first moved into the building in 2010, will relocate to newly built offices on the same floor following completion of the space. Shubert currently owns and operates 17 Broadway theatres, six off-Broadway venues and the Forrest Theatre in Philadelphia.

• Stuf Storage, a company specializing in converting underutilized areas within existing buildings into professionally managed storage facilities, signed a 10-year lease for 7,792 s/f on the 15^th floor, where it will operate a modern storage locker facility. Notably, Stuf recently expanded its footprint with a lease at GFP Real Estate’s 10 Astor Place, reflecting the company’s continued growth across Manhattan. Mandell represented the tenant.

• The Nation Company LLC, publisher of The Nation, one of the oldest continuously published weekly magazines in the U.S., signed a five-year lease for 6,054 s/f on the 16^th floor. The company, which first moved into the building in 2016, will relocate from the 21^st floor following the build-out of its new offices. Mandell represented the tenant.

• The Afro-Latin Jazz Alliance of New York, Inc., a nonprofit cultural organization dedicated to preserving and promoting Afro-Latin jazz, signed a new lease for 3,810 s/f on the 12^th floor. The organization will utilize the space for executive and administrative offices. Jane Brody of Acona Real Estate represented the tenant.

• Dr. James Outpatient Psychiatry, PLLC signed a five-year lease for 3,006 s/f on the third floor. The practice is expanding from another GFP property and will utilize the space for patient care and administrative operations. Mandell represented the tenant.

• Kelman Winston & Vallone PC, a personal injury law firm, signed a new five-year lease for 2,695 s/f on the 14^th floor, where the firm will occupy space for executive and general office use. Norman Bobrow and Steve Haas of Norman Bobrow & Company represented the tenant, which will relocate from 291 Broadway.

• The Joint Retirement Board for Conservative Judaism, Amutah, a nonprofit benefits organization that manages retirement plans for employees of Conservative Jewish institutions, signed a five-year lease for 2,625 s/f on the 19^th floor. The organization will relocate from One Penn Plaza and utilize the space for executive and administrative offices. Ethan Lipetz of Savills represented the tenant.

Built in 1926, the 26-story office tower comprises more than 860,000 s/f in New York City’s famed Fashion District near Hudson Yards, Herald Square, Times Square, Madison Square Garden and Penn Station. The building is close to the Port Authority Bus Terminal and offers access to the A, C, E, 1, 2 and 3 subway lines as well as Amtrak, LIRR and NJ Transit.