Software Testing Company Optimize Topco Takes 12K SF at 505 Eighth Avenue
By Amanda Schiavo December 22, 2025 12:50 pm
reprints
GFP Real Estate’s office building at 505 Eighth Avenue has signed three new tenants that will occupy space totaling 18,103 square feet at the 25-story tower formerly known as the Hoover Building, the landlord announced.
The largest of the three new leases is for Optimize Topco, a software quality and testing company that does business as Applause. The company will relocate to 505 Eighth Avenue next year, occupying 12,318 square feet across the entire 16th floor. Applause is currently operating from 355 Lexington Avenue. The lease length is for three years.
The asking rent for all three leases was not disclosed. The average asking rent for office space in Midtown Manhattan was $83.17 during the third quarter of 2025, according to data from CBRE.
Applause was represented by Christopher Foerch from Savills. GFP Real Estate’s Allen Gurevich represented the landlord in all three lease deals. Gurevich also represented the tenants in the other two leases at the property.
Hoffman Matlin & Monroy, a full-service law firm, signed a five-year lease extension for 3,935 square feet on the ninth floor of 505 Eighth Avenue. The firm, which just moved into the building in November, currently occupies 2,500 square feet on the 11th floor. Recent company growth facilitated the need for a larger office space.
Home healthcare services provider The Avondale Group, which has been a tenant of 505 Eighth Avenue since 2008, inked a three-year lease for 1,850 square feet on the building’s 18th floor.
“Demand for well-located, well-run buildings remains steady, and 505 Eighth Avenue continues to prove that,” Gurevich said in a statement announcing the leases. “We’re glad to welcome Applause to the property and to support The Avondale Group and Hoffman Matlin & Monroy as they each move into their new spaces.”
Other tenants at 505 Eighth Avenue include nonprofit Breaking Ground, law enforcement and security services provider Extell Securities and medical clinic Atlas Men’s Health.
Amanda Schiavo can be reached at aschiavo@commercialobserver.com.
