The company, which also provides consulting services, will continue to operate on part of the third floor of the 25-story building, which is located at the corner of West 35th Street. The asking rents in the building are between $45 per square foot and $48 per square foot, according to a spokeswoman for Newmark Holdings.
Matthew Leon of Newmark Knight Frank brokered the deal for Greystone, while Allen Gurevich of Newmark Holdings brokered the deal for the landlord in-house.
“This is an exceptionally well-located property in the heart of the Penn Station corridor with a superb management team,” Gurevich said in a prepared statement.
Besides its outlet at 505 Eighth Avenue, Greystone has an office in Boston. And the company is a division of Greystone & Co., which is a lender, investment manager and advisory firm.
Leon did not return a request for comment via a spokesman.
Existing tenants at 505 Eighth Avenue include public health nonprofit Cicatelli Associates, housing nonprofit Breaking Ground, Ettinger Engineering and Ethelind Coblin Architects.