GFP signs Applause, Avondale Group, and Hoffman Matlin & Monroy to leases totaling 18,103 s/f at 505 Eighth Ave.

Manhattan, NY According to GFP Real Estate, LLC, three tenants, Applause, The Avondale Group Inc. and Hoffman Matlin & Monroy, LLP, have signed leases totaling 18,103 s/f at 505 Eighth Ave., strengthening the building’s mix of professional services and longtime corporate occupants in Midtown Manhattan.

Allen Gurevich of GFP Real Estate represented the landlord in each of the below transactions.

“Demand for well-located, well-run buildings remains steady, and 505 Eighth Ave. continues to prove that,” said Gurevich.

In the first transaction, Optimize Topco, Inc., d.b.a. Applause, a software quality and testing company, signed a new three-year lease for 12,318 s/f — the entire 16^th floor — for its general and executive offices. Christopher Foerch of Savills represented the tenant. The company, which will relocate from 355 Lexington Ave., is expected to move in early next year.

In the second transaction, Hoffman Matlin & Monroy, LLP, a full-service law firm, signed a five-year lease extension for 3,935 s/f on the ninth floor. The firm, which is currently located in 2,500 s/f on the 11^th floor, is expanding its space to accommodate its recent growth.  Hoffman Matlin & Monroy moved in this November following the completion of its build out. Gurevich represented the tenant.

In the third transaction, The Avondale Group Inc. signed a three-year lease for 1,850 s/f on the 18^th floor. The space was formerly occupied by Kapoor Law. Avondale first moved into the building in 2008. Gurevich represented the tenant.