Law Firm Davidson Kappel Keeps 3K-SF Office at GFP’s 589 Eighth Avenue
By Isabelle Durso November 13, 2024 5:05 pm
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Law firm Davidson Kappel is sticking around GFP Real Estate’s 589 Eighth Avenue in Midtown for another five and a half years.
Davidson Kappel, which specializes in intellectual property law, has extended its 3,000-square-foot lease on the entire 22nd floor of the 23-story office building, according to the landlord.
The asking rent was not provided, but a report from Newmark found office rents in Times Square South averaged $51.73 per square foot during the third quarter of 2024.
GFP’s Alan Steinberg and Neil Joffee brokered the deal in-house for the landlord and for the tenant. A spokesperson for GFP did not immediately respond to a request for comment.
The law firm moved into GFP’s building on the corner of Eighth Avenue and West 39th Street in 2015, when the firm was known as Davidson Davidson & Kappel, according to partner William Gehris. Davidson Kappel was formed this year after partner Cliff Davidson died, Gehris said.
“We retained our present space, which we love and has great views and light compared to other spaces we were seeing,” Gehris told Commercial Observer. “We value our long-term relationship with GFP.”
Other tenants of the office tower one block south of the Port Authority Bus Terminal include financial consulting firm Tax Advantage Advisors, engineering consultant Fiskaa Engineering, and 7-Eleven in ground-floor retail space.
Isabelle Durso can be reached at idurso@commercialobserver.com.
