GFP Real Estate, LLC is pleased to announce that three lease transactions totaling 12,924 square feet at 515 Madison Ave. in Manhattan’s Plaza District.
· Weiss Wellness, a physiatrists group focused on providing individualized holistic treatment plans to clients, signed a new 10-year lease for 6,536 square feet on the fifth floor. Weiss Wellness was previously located on the third floor of the building in a 4,000-square-foot space; the company first moved into the building in 2017. Martin McGrath of GFP Real Estate and William Grover of Newmark represented the landlord, GFP Real Estate and the tenant in the transaction.
· Components by John McCoy, importer and manufacturer high-end Italian and European men’s clothing for sale and distribution to top U.S. specialty stores, signed a five-year lease for 5,212 square feet on the 20th floor for its executive, administrative and general offices. Jacob Wolkenfeld of Norman Bobrow represented the tenant, Components by John McCoy, in the transaction; Martin McGrath of GFP Real Estate and William Grover of Newmark represented the landlord, GFP Real Estate.
· Tower Enterprises, an industrial and commercial HVAC equipment supplier, signed a five-year lease for 650 square feet on the third floor. William Akleh of Sido New York represented the tenant, Tower Enterprises, in the transaction; Martin McGrath of GFP Real Estate and William Grover of Newmark represented the landlord, GFP Real Estate.
· Luxury Watch Repairs Inc signed a three-year lease for 526 square feet on the seventh floor. John Akleh of Sido New York represented the tenant, Tower Enterprises, in the transaction; Martin McGrath of GFP Real Estate and William Grover of Newmark represented the landlord, GFP Real Estate.
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.
