Breaking Ground expands footprint with long-term leases of 47,016 s/f
Manhattan, NY GFP Real Estate made known that Breaking Ground, one of New York’s largest supportive housing developers and a nationally recognized nonprofit dedicated to ending homelessness, has expanded its presence across two GFP-owned properties: 505 Eighth Ave. and 520 Eighth Ave. in Midtown.
At 520 Eighth Ave., Breaking Ground, which already occupied 13,703 s/f on the 21st floor, signed a lease amendment and 10-year lease extension to add 6,677 s/f of adjacent space, bringing its total to 20,380 s/f on the floor. Breaking Ground first moved into the building in 2021. The nonprofit’s new space was previously occupied by The Nation Company.
At 505 Eighth Ave., Breaking Ground consolidated and expanded its offices across several floors to 32,328 s/f, up from 26,636 s/f previously. The new 10-year lease includes the entire 2nd and 5th floors, plus a portion of the 3rd floor. This move enables the organization to streamline operations by relocating from scattered partial-floor spaces into larger, contiguous offices. Breaking Ground first moved into the building in 2002. The nonprofit’s new space was previously occupied by Graystone and Avondale, respectively.
At 520 Eighth Ave., Matthew Mandell of GFP Real Estate represented the landlord, GFP Real Estate, while Joseph McLaughlin of Vestian represented the tenant. At 505 Eighth Ave., Allen Gurevich of GFP Real Estate represented the landlord, with Joseph McLaughlin of Vestian again representing the tenant.
“As the landlord with the largest concentration of nonprofit tenants in New York City, we’re proud to support Breaking Ground as they expand their footprint,” said Jeffrey Gural, chairman of GFP Real Estate. “Their mission-driven work delivers critical housing and services for vulnerable New Yorkers, and we’re honored they’ve chosen to grow their operations in our Midtown buildings.”