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.

MORE FROM Brokerage

Industrial Realty Group acquires 422,727 s/f distribution facility in south St. Paul

St. Paul, MN Industrial Realty Group, LLC (IRG) acquired a 422,727 s/f industrial distribution facility located at 411 Farwell Ave. in south St. Paul. The property was formerly the headquarters of The Sportsman’s Guide, an online and
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,
Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt

Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt

You have a right to be concerned. I am always surprised at the companies that will negotiate the price of their new facility down to the last dollar, without thoroughly analyzing their
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.