Three Tenants Extend Leases at 505 Eighth Avenue

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Ettinger Engineering Associates, an engineering consulting firm, signed on for five more years at 505 Eighth Avenue.

Ettinger Engineering Associates agreed to stay on the 24th floor of the building in a long-term deal, after originally moving into the 7,600-square-foot space in 1989, a decision also made by two other firms in the GFP Real Estate-owned Garment District asset.

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“We have continued to see tenants renewing and expanding their footprint over the past several months as companies that hunkered down during COVID look to retain talent and accommodate for growth, including many of our nonprofit tenants,” Allen Gurevich, senior managing director of GFP, said in a statement.  “GFP has enjoyed long-term relationships with each of its tenants throughout the pandemic, and is pleased to be able to accommodate their growth with little to no disruption to their day-to-day operations.”

Arthur Spitalnick of Kaufman Organization represented Ettinger Engineering in the transaction, while Gurevich represented GFP in-house in all three deals. Kaufman did not immediately respond to a request for comment.

Asking rents in the building start in the high $30s to low $40s per square foot, according to GFP.

Aside from Ettinger, Upwardly Global, a nonprofit organization linking refugees with jobs, reupped for seven more years for 3,675 square feet on the 17th floor. It was previously on the 11th floor, with GFP building out the new space to allow room for growth.

Carri Lyon and Jenna Catalon of Cushman & Wakefield represented Upwardly Global. C&W declined to comment.

Also recommitting after an already 30-year tenure in the building is WhyHunger, a nonprofit organization that links people in food-scarce regions with affordable meals. The entity, however, will be moving from the 21st floor to a new 2,700-square-foot space on the 12th floor, according to GFP.

WhyHunger had no brokers in the deal.

Mark Hallum can be reached at mhallum@commercialobserver.com.