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Deals & Dealmakers

GFP Real Estate Inks Four Leases at 515 Madison in Manhattan’s Plaza District

GFP Real Estate, LLC is pleased to announce four lease transactions totaling 11,771 square feet at 515 Madison Ave. in Manhattan’s Plaza District.  

“We have been seeing an increase in leasing activity as companies are returning to the office after the summer months,” said Martin McGrath, senior managing director of GFP Real Estate. “Located just south of Central Park in the hustle and bustle of Manhattan’s Plaza District, 515 Madison is in the ideal location for companies wanting to settle down in the heart of New York.”

Martin McGrath of GFP Real Estate represented the landlord, GFP Real Estate, and the tenant in each of the transactions below.

·       MTN Capital Partners, an independent private equity firm, signed a two-year lease for 3,956 square feet on the 37th floor. With a mission of partnering with C-level executives to acquire companies and enhance shareholder value, MTN Capital Partners will use its space for its executive offices. 

·       Highwater Capital Group, a fully integrated real estate investment firm specializing in acquisitions, development, property and asset management and construction signed a one-year lease extension for 3,655 square feet on the 13th floor. 

·       Dr. Henrik Zakari, M.D. signed a five-year lease for 1,330 square feet on the 38th floor. A graduate of St. George’s University School of Medicine, Dr. Henrik Zakari will use his space for offices and patient visits. 

·       Carvin French Jewelers, a custom jeweler for top designers, jewelry stores and individuals signed a one-year lease extension for 2,821 square feet on the 5th floor. Primarily selling 18 karat yellow gold, white gold and platinum pieces, this long-term tenant has been in the building for over 10 years, using its space for offices. 

Built in 1932 and known as the DuMont Building, 515 Madison is a 42-story, 370,000-square-foot class A building designed by John H. Carpenter. One of the building’s most distinctive features is a broadcasting antenna that traces back to the building’s role in the first television broadcasts of Allen B. DuMont’s experimental television station W2XWV in 1938. This building’s careful restoration of its renovated entrance and lobby in 2009 kept its beautiful architectural elements intact yet modernized for today’s tenants.

Located just south of Central Park, 515 Madison provides access to a multitude of dining options and well-known landmarks like the New York City Center for Performing Arts, Carnegie Hall and Rockefeller Center, which are all just a short walk away. The E and M trains are located in the building and the 6 train is only a block away, providing convenient transportation options.

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