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Deals & Dealmakers

GFP Real Estate Inks Four Leases Totaling 28,004 SF in Manhattan’s Plaza District

 GFP Real Estate, LLC is pleased to announce that four lease transactions totaling 28,804 square feet at 515 Madison Ave. in Manhattan’s Plaza District.  

“515 Madison Avenue continues to attract high-end fashion houses, retailers and professional services companies looking to capitalize on the high volume of foot traffic from office workers, residents and tourists alike, and the building’s convenient location just off the 6, E and M trains,” said Martin McGrath of GFP Real Estate.  

·      Zadig & Voltaire, a Paris-based fashion house that “redefines modern femininity with wild, free, and rock-fueled wardrobe essentials that embody the strength and sensuality found in the rough and undone,” signed 10-year lease for 12,000 square feet spread across the ground, second and third floors.  Michael Leifer of Runyon Group represented the tenant in the transaction; Jeffrey Gural and Martin McGrath of GFP Real Estate and William Grover of Newmark represented the landlord, GFP Real Estate. The luxury brand wanted to expand its presence on Madison Ave.; the company also has locations at 1133 Madison Ave. and 845 Madison Ave., respectively.  Zadig & Votaire’s 515 Madison Ave. location will serve as the brand’s new, New York City headquarters; the company will relocate its office staff from its SoHo offices.

·      Mark Ingram Atelier, a luxury bridal showroom and boutique featuring handpicked designer wedding gowns, signed a 15-year lease for 8,340 square feet on the second floor.  The space, which faces 53rd Street and was previously occupied by Hartman Rare Art, offers unique signage opportunities for the high-end boutique.  Curtis Woodside and Lisa Rosenthal of Compass represented the tenant in the transaction; Jeffrey Gural and Martin McGrath of GFP Real Estate and William Grover of Newmark represented the landlord, GFP Real Estate.  Mark Ingram Atelier will relocate from 110 East 55th St. and will use the space as a retail store, showroom and office space.

·      Fagenson & Co., Inc., a private investment bank and investment services firm, has signed a five-year lease for 2,238 square feet on the third floor.  Noam Benamy of NoahRE.com represented the tenant in the transaction; Martin McGrath of GFP Real Estate and William Grover of Newmark represented the landlord, GFP Real Estate.

·      Padell Business Management, an accountant and business management services firm specializing in representing musicians, producers, actors, athletes and screenwriters, signed a seven-year lease for 2,801 square feet on the 19th floor.  Michael Joseph of Colliers International represented the tenant in the transaction; Martin McGrath of GFP Real Estate and William Grover of Newmark represented the landlord, GFP Real Estate.  The company, which is currently located at 2/3 West 35thStreet, is expected to move in this summer.  GFP Real Estate will install new dropped ceilings and build two new offices and several storage closets for the tenant.

·      CNP Staffing Group, a professional staffing group that specializes in staffing solutions for nonprofit organizations, signed a seven-year lease for 1,725 square feet on the 11th floor for its general, administrative and executive offices.  Jake Payne of RHI Group LLC represented the tenant in the transaction; Martin McGrath of GFP Real Estate and William Grover of Newmark represented the landlord, GFP Real Estate.

·      Cleveland H. Dodge Foundation, Inc., a nonprofit organization founded in 1917 “to continue the Dodge family legacy of service and philanthropy to promote the wellbeing of all people by supporting educational, community and cultural institutions,” signed a new 10-year lease for 1,700 square feet on the 11th floor.  The company, which is currently located at 420 Lexington Ave., took possession this month.  Brett Shannon of CBRE represented the tenant 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.

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