News

Source: New York Business Journals

March 29, 2022

Garment District building signs 34,000 square feet in leases

A 26-story Garment District office tower, 520 Eighth Avenue, has signed 34,000 square feet in leases, including two food retailers on its ground floor.

“520 Eighth Avenue continues to attract top creative, professional services firms, nonprofits and entertainment-related tenants looking for more space in a quality building,” Matthew Mandell, senior managing director of building owner GFP Real Estate, said in a statement.

Mandell represented GFP Real Estate in each of the transactions. They included:

General Vision Services, an eye care benefits administrator and preferred provider organization provider, signed a short-term lease for 13,600 square feet of office space. Mandell represented the tenant in the direct lease transaction.

INCLUDEnyc, a nonprofit that supports young people with disabilities from birth to age 26, signed a lease for 9,800 square feet on the 25th floor. Jonathan Franzel and Jason Greenstein of Newmark represented the tenant in the transaction.

Guth Deconzo Consulting Engineers PC, which specializes in sustainable design, building, and engineering services, signed a 10-year lease for 4,938 square feet on the 22nd floor. Michael Bolton of MBRE Advisors LLC represented the tenant.

Kyocera Document Solutions New York Metro, which provides printers, MFPs and IT services, signed a three-year lease for 3,200 square feet for its executive and general offices on the 23rd floor. Robert Schmidt Jr. of JLL represented the tenant in the transaction.

Soma Salads Inc. signed a 15-year lease for 1,057 square feet of ground floor retail space. Andrew Taub and Ben Birnbaum of Newmark represented the tenant in the transaction. Lazzaro Carved Meat & Rotisserie signed a 15-year lease for 1,417 square feet of ground floor retail space. Newmark’s Taub and Birnbaum also represented the tenant in the transaction.

Built in 1926, 520 Eighth Avenue comprises more than 860,000 square feet.

GFP Real Estate is an owner, operator, property manager and developer of commercial real estate in the New York City area and has more than 55 buildings and 12.8 million square feet under ownership.