GFP Real Estate, LLC is pleased to announce that three tenants have expanded their presence at 322 Eighth Ave., inking new leases totaling 38,190 square feet.
“Anytime you can keep a tenant in place and accommodate their growth it’s a win-win for both the landlord and the tenant,” said Allen Gurevich, Senior Managing Director of GFP Real Estate. “Purple PR, Alzheimer’s Foundation of America and Courtside Ventures Management each needed additional space as their businesses continue to grow; we were thrilled to accommodate them at 322 Eighth Ave.”
· In the first transaction, Purple PR, a global public relations agency for fashion, beauty, lifestyle and entertainment luxury brands, signed a four-year lease for 5,200 square feet of additional office space, bringing their total occupancy at the building to approximately 18,000 square feet. The global agency has been in the building since 2019 and now occupies three floors. Purple PR is also located in London, Miami, Los Angeles and Hong Kong and will use its new space in New York for additional showrooms and offices. Simon Landmann of JLL represented the tenant, Purple, while Allen Gurevich of GFP Real Estate represented the landlord, GFP Real Estate, in the transaction.
· In the second transaction, Alzheimer’s Foundation of America, a non-profit organization that supports individuals, families and caregivers affected by Alzheimer’s disease, signed a 10-year lease for 2,054 RSF of additional office space, bringing their total occupancy at the building to 15,690 square feet. The organization is now on the 7th and 16th floor. Allen Gurevich of GFP Real Estate represented the landlord and dealt directly with the tenant in this transaction.
· In the third transaction, Courtside Ventures Management, a venture fund company investing in early-stage sports, collectibles, fitness and gaming companies, signed a 10-year lease for 1,800 square feet of additional space, bringing their total occupancy at the building to 4,500 square feet. The company will now occupy the entire 19th floor. Jeff Sharon of JSRE Management represented the tenant, Courtside Ventures Management, while Allen Gurevich of GFP Real Estate represented the landlord, GFP Real Estate, in the transaction.
Built in 1925 and designed by architects George and Edward Blum in a neo-gothic style, 322 Eighth Ave. is a 21-story, 185,000-square-foot office building located in Chelsea. In recent years the building’s entrance and façade were completely remodeled and feature a modern, glass storefront while the building’s marble-floored lobby boasts dramatic vaulted ceilings featuring a mural painted by renowned American artist Thomas Hart Benton, which was recently restored by a specialist from the Metropolitan Museum of Art. Commencing in Q3 of 2022, GFP Real Estate plans to renovate the building’s lobby further, adding a new green wall, coffee bar, waiting area, security desk, turnstiles and contemporary finishes.