Six Nonprofit, Food Service Tenants Lease 34K SF at 520 Eighth Avenue
By Mark Hallum March 30, 2022 10:17 am
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GFP Real Estate has seen an influx of new tenants at 520 Eighth Avenue throughout March with 34,012 square feet of office and retail space being leased to six different companies.
Matthew Mandell of GFP Real Estate represented the landlord in-house while JLL (JLL), Newmark (NMRK) and MBRE Advisors brokered on behalf of the various tenants. Asking rents were in the low $40s for the office space and about $150 per square foot for the retail, per GFP.
“520 Eighth Avenue continues to attract top creative, professional services firms, nonprofits and entertainment-related tenants looking for more space in a quality building,” Mandell said in a statement.
General Vision Services, a national eyecare provider, signed a short-term lease for 13,600 square feet of office space, with Mandell brokering both sides of the deal.
Nonprofit organization INCLUDEnyc closed on an agreement for 9,800 square feet on the 25th floor with Jonathan Franzel and Jason Greenstein of Newmark representing them.
“INCLUDEnyc is a fantastic organization with an essential mission, and we believe they will continue to thrive in their new space,” Franzel said in a statement. “Ownership has done a great job of attracting nonprofits and social advocacy organizations to 520 Eighth Avenue.”
Engineering and building firm Guth Deconzo Consulting Engineers, inked a 10-year lease for 4,938 square feet on the 22nd floor with representation from Michael Bolton of MBRE Advisors.
Printing and IT provider Kyocera Document Solutions New York Metro took 3,200 square feet on a three-year lease for its general offices on the 23rd floor. Robert Schmidt of JLL represented the tenant.
Soma Salads committed to a 15-year lease for 1,057 square feet of ground-floor retail space with representation from Andrew Taub and Ben Birnbaum of Newmark.
And Lazzaro Carved Meat & Rotisserie agreed to a 15-year lease for 1,417 square in retail space offered at 520 Eighth Avenue. Taub and Birnbaum also represented this eatery in the deal.
JLL and MBRE Advisors did not immediately respond to a request for comment.
The 26-story office tower, comprised of 860,000 square feet, was built in 1926 in the Garment District.
Mark Hallum can be reached at mhallum@commercialobserver.com.
