Senior Care Group, Beauty Product Purveyor Renew Leases at 505 Eighth Avenue
By Mark Hallum January 25, 2023 12:18 pm
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Two longtime tenants at GFP Real Estate’s 505 Eighth Avenue are staying put, having renewed their leases.
Senior home-care provider Avondale Care Group renewed its 5,589-square-foot lease on the 14th floor of the building, where it has been since 2008, for an additional three years, according to GFP. Meanwhile, cosmetics supplier Manhattan Beauty, which has leased 4,348 square feet of ground-floor retail since 2003, signed on for another 10 years.
GFP Real Estate did not disclose the asking rent.
“We’ve seen a lot of leasing activity in the Garment District, including long-term renewals of tenants extending their leases as companies begin looking past COVID, workers return to the office, and retail traffic continues to pick up,” Allen Gurevich, who represented both the landlord and tenants in both transactions, said in a statement.
The Garment District building, at the corner of West 35th Street and Eighth Avenue, was built in 1926 and designed by architect Chester James Storm.
Also in the building is housing nonprofit NeighborWorks, which leased 4,300 square feet for five years in November 2022. Other tenants include Ettinger Engineering Associates, Upwardly Global and WhyHunger.
Mark Hallum can be reached at mhallum@commercialobserver.com.
