Mesmerize Media Renews 5K SF at 505 Eighth Avenue
By Anna Staropoli May 20, 2024 3:04 pm
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Three is everything but a crowd at 505 Eighth Avenue, where GFP Real Estate inked a trio of leases.
The landlord recently signed deals with advertising firm Mesmerize Media, law firm Shankar Ninan & Company, and nonprofit Indego Africa Project for a lease extension and two new leases in the 25-story Midtown office tower, according to the landlord.
Of the three, Mesmerize Media claims the largest square footage. The company renewed its hold on 5,009 square feet on the building’s 10th floor, where it’s been since 2016, GFP said.
With smaller leases, Shankar Ninan and Indego Africa Project both signed deals for 2,000 and 1,400 square feet, respectively. Shankar Ninan will spend five years on the 18th floor, moving just a few blocks from its current location at 875 Avenue of the Americas, GFP said. A few floors down, Indego will open offices on the building’s 10th floor after signing a four-year lease.
Asking rents were between $39 and $42 per square foot, according to a spokesperson for GFP. The property is more than 85 percent leased.
“All three tenants were attracted to the building’s great location, access to transportation and its affordable rents,” GFP’s Allen Gurevich, who brokered all three deals for the landlord as well as for Mesmerize Media, said in a statement.
Lee & Associates NYC’s Dennis Someck brokered the deal for Shankar Ninan and Company, while Office Concierge’s Jamie Jacobs and Richard Sexton represented Indego. Someck, Jacobs and Sexton did not immediately respond to requests for comment.
At the intersection of Eighth Avenue and West 35th Street, 505 Eighth Avenue — originally dubbed the Hoover Building — spans 275,000 square feet in proximity to Pennsylvania Station.
Anna Staropoli can be reached at astaropoli@commercialobserver.com.
