GFP Real Estate LLC announced three new lease transactions totaling 10,857 square feet at 505 Eighth Ave. in Midtown.
“We’ve seen a lot of leasing activity in the Garment District, including long-term renewals of tenants extending their leases as companies begin looking past COVID-19, workers return to the office and retail traffic continues to pick up,” said Allen Gurevich, senior managing director of GFP Real Estate.
Avondale Care Group signed a three-year lease renewal for its 5,589 square foot offices on the 14th floor. The longstanding tenant, which has been in the building since 2008, provides personalized at-home care for patients who can no longer take care of themselves independently, or need additional support with daily tasks. Gurevich represented GFP and Avondale Care Group in this direct lease transaction.
Manhattan Beauty Inc., a beauty, cosmetics and accessories store located at 505 Eighth Ave. since 2003, signed a 10-year lease extension for its 4,348 square feet of retail space on the ground floor. Gurevich represented landlord and tenant in the direct lease transaction.
The Netherland-America Foundation, the bilateral foundation initiating and supporting high-impact exchange between the Netherlands and the United States, including the NAF-Fulbright Fellowships and programs in the arts, business, public policy and historic preservationm signed a three-year lease for 920 square feet on the ninth floor. Gurevich represented GFP Real Estate, in the transaction; Sam Mann and Rekha Pednekar of Savills represented the tenant.
505 Eighth Ave., originally known as the Hoover Building, was built in 1926 by the architect Chester James Storm.
