GFP Real Estate, LLC is pleased to announce that Ripley-Grier Studios, the largest rehearsal facility in the world, has signed a 15-year lease for 62,257 square feet on the 10th, 16th, and 17th floors of 520 Eighth Ave. in the Garment District. A tenant since 1999, Ripley Grier Studios added an additional 11,152 square feet to its original 51,105 square feet.
With four locations located around New York City, Ripley-Grier Studios has provided studio and meeting spaces to the theatre, entertainment, teaching, and business community at 520 Eighth Ave. for more than 20 years. The company’s motto, “Build them and they will come,” has propelled Ripley-Grier to become the largest rehearsal space provider worldwide.
“Ripley-Grier Studios has grown exponentially since it first moved into the building in 1999, and worked closely with GFP to creatively add additional space vertically and horizontally over the years,” said Matthew Mandell of GFP Real Estate LLC. “While Ripley-Grier is the definitive leader in providing rehearsal space, every corner of the entertainment world was deeply affected by the shutdowns in 2020. We are thrilled to see that Ripley-Grier continues to flourish as its clients continue to seek quality meeting and rehearsal spaces.”
Joseph Harkins of Cushman & Wakefield represented the tenant, Ripley-Grier Studios, while Matthew Mandell of GFP Real Estate represented the landlord, GFP Real Estate, in the transaction.
Built in 1926, the 26-story office tower comprises more than 860,000 square feet in New York City’s famed Fashion District near Hudson Yards, Herald Square, Times Square, Madison Square Garden and Penn Station. The building is in close proximity to the Port Authority bus terminal and provides convenient access to numerous transportation lines, including the A, C, E, 1, 2, and 3 trains, as well as the Amtrak, LIRR and NJ Transit lines.