Ripley-Grier Studios Renews for 15 Years at 520 Eighth Avenue
By Mark Hallum May 9, 2022 4:09 pm
reprints
Ripley-Grier Studios isn’t leaving 520 Eighth Avenue anytime soon after renewing its lease for 62,257 square feet for an additional 15 years.
Having been in the building since 1999, Ripley-Grier offers rentable rehearsal space on the 10th, 16th and 17th floors of the Garment District building alongside three other locations which include 305 West 38th Street just a short walk away.
Over the years, the tenant has added 11,152 square feet to its original 51,105-square-foot lease, according to the landlord GFP Real Estate.
“Ripley-Grier Studios has grown exponentially since it first moved into the building in 1999, and worked closely with GFP to creatively add additional space vertically and horizontally over the years,” Matthew Mandell of GFP said in a statement. “While Ripley-Grier is the definitive leader in providing rehearsal space, every corner of the entertainment world was deeply affected by the shutdowns in 2020.”
Joseph Harkins of Cushman & Wakefield (CWK) represented the tenant while Mandell represented GFP in-house. The asking rents were not disclosed and C&W did not immediately respond to a request for comment.
March saw a flurry of activity in the building as six nonprofits, medical offices and food service tenants took 34,012 square feet. In January, architectural firm Mancini Duffy took 12,000 square feet in a 10-year deal at the 26-story office tower, which has over 860,000 square feet and was built in 1926.
Mark Hallum can be reached at mhallum@commercialobserver.com.
