GFP Real Estate, LLC secured five lease transactions totaling 11,437 square feet at 515 Madison Ave. in Manhattan’s Plaza District, bringing the historic office tower to 95% leased. They include the following:
- Luxury bridal showroom and boutique Mark Ingram Atelier expanded, signing a 20-year, 200-square-foot lease for a total of 10,360 square feet. Martin McGrath of GFP Real Estate and William Grover of Newmark represented the landlord and the tenant.
- The Ladies of Charity of the Catholic Charities of the Archdiocese of NY, Inc., signed a five-year lease for 1,277 square feet. McGrath and Grover represented ownership. Ellen Sanfilippo and Ephraim Setton of R New York represented the tenant.
- Investment management firm Grace & White signed a 10-year lease extension for its 3,073 square feet of space. McGrath represented the landlord, while Josh Berger of Norman Bobrow & Co., Inc. represented the tenant.
- Andrei Mark, DDS, P.C. signed a 10-year lease extension for 3,794 square feet. McGrath represented ownership. Peter Olans of Trident Commercial Realty represented the tenant.
- Longtime tenant George Lederman Inc. signed a 10-year lease extension for its 1,293 square feet of office and showroom space. McGrath represented landlord and tenant.
“Since the pandemic, 515 Madison has performed exceptionally well—we’re now nearing full occupancy with close to 100% leased, and several more deals in the pipeline,” said Jeffrey Gural, chairman of GFP Real Estate. “The demand has been strong, and we expect the building to be fully leased very soon.”
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