News: Brokerage

GFP secures 7-year lease extension/expansion with Civic Entertainment Grp.

440 Lafayette Street - Manhattan, NY

Manhattan, NY GFP Real Estate said that marketing and communications agency Civic Entertainment Group (CIVIC) has signed a seven-year lease extension and expansion totaling 27,180 s/f across two properties in NoHo: 15,180 s/f on the entire second floor at 440 Lafayette St. and 12,000 s/f on the second floor at 740 Bdwy. The move will nearly double CIVIC’s office footprint from 15,000 s/f to over 27,000 s/f. 

As part of the agreement, the agency will also relocate from its offices on the fifth floor of 440 Lafayette St., consolidating its team into one space. GFP will construct a new bridge connecting the two buildings through a shared interior courtyard, allowing the company to operate across both floorplates.

Allen Gurevich of GFP represented CIVIC, while Neith Stone of GFP represented the landlord, GFP Real Estate. CIVIC is expected to move into its new offices at the beginning of 2026, following a complete renovation and build-out to be delivered by GFP Real Estate.

“This is a terrific example of how GFP works creatively with its tenants to accommodate growth in a way that minimizes disruption to their operations,” said Stone.  “We are thrilled to provide CIVIC with a customized solution that not only doubles their space but also creates a connected and efficient workplace for years to come.” CIVIC has been a tenant in the 440 Lafayette building since 2015.

The second floors has 14-ft. ceilings, creating an open and airy workspace environment. Located at 440 Lafayette St., this cast-iron facade building offers views of the Astor Place Square. Meanwhile, 740 Bdwy.’s floorplate creates desirable corner spaces with unobstructed exposures over Broadway and Astor.

These boutique buildings exemplify industrial chic architecture, combining historic character with modern functionality in NoHo.

 “We’ve had the pleasure of working with the GFP team for over 25 years — as both tenants and brokerage clients. Throughout our partnership, they’ve consistently delivered strategic, high value market solutions to support our growth. We’re excited to continue this collaboration as we build out our new, community-focused creative space,” said Parke Spencer, president of CIVIC.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
AI comes to public relations, but be cautious, experts say - by Harry Zlokower

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,
Strategic pause - by Shallini Mehra and Chirag Doshi

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
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account