Housing Nonprofit NeighborWorks Relocates Within 505 Eighth Avenue

reprints


Housing nonprofit NeighborWorks has a new home of its own. 

The organization leased 4,300 square feet for five years at 505 Eighth Avenue, between West 35th and West 36th streets, according to landlord GFP Real Estate. A spokesperson for GFP declined to comment on the asking rent for the space.

SEE ALSO: Co-warehousing Company Saltbox Opens Doral Outpost

NeighborWorks, which provides financial counseling for homeowners and renters and helps nonprofits develop and repair homes, has been on the 16th floor of the 25-story building since 2018 and will relocate to a different floor. GFP also plans to renovate the nonprofit’s new space with a large boardroom, pantry area and new glass finishes. 

GFP’s Allen Gurevich represented the landlord in-house, while Ellen Herman of JLL handled the deal for the tenant. A JLL spokesperson didn’t immediately return a request for comment. 

“Securing new space within the building was a win-win that exemplifies how a strong tenant-landlord relationship can benefit both parties,” said Gurevich. “505 Eighth Avenue has served NeighborWorks and its clients well for the past four years as it is close in proximity to the Penn Station-Port Authority corridor and the many transportation lines serving the area.” 

Rebecca Baird-Remba can be reached at rbairdremba@commercialobserver.com