Robert Khodadadian – Commercial Observer

Two longtime tenants at GFP Real Estate’s 505 Eighth Avenue are staying put, having renewed their leases.

Senior home-care provider Avondale Care Group renewed its 5,589-square-foot lease on the 14th floor of the building, where it has been since 2008, for an additional three years, according to GFP. Meanwhile, cosmetics supplier Manhattan Beauty, which has leased 4,348 square feet of ground-floor retail since 2003, signed on for another 10 years.

GFP Real Estate did not disclose the asking rent.

“We’ve seen a lot of leasing activity in the Garment District, including long-term renewals of tenants extending their leases as companies begin looking past COVID, workers return to the office, and retail traffic continues to pick up,” Allen Gurevich, who represented both the landlord and tenants in both transactions, said in a statement. 

The Garment District building, at the corner of West 35th Street and Eighth Avenue, was built in 1926 and designed by architect Chester James Storm. 

Also in the building is housing nonprofit NeighborWorks,  which leased 4,300 square feet for five years in November 2022. Other tenants include Ettinger Engineering Associates, Upwardly Global and WhyHunger.

Mark Hallum can be reached at mhallum@commercialobserver.com.

Two longtime tenants at GFP Real Estate’s 505 Eighth Avenue are staying put, having renewed their leases. Senior home-care provider Avondale Care Group renewed its 5,589-square-foot lease on the 14th floor of the building, where it has been since 2008, for an additional three years, according to GFP. Meanwhile, cosmetics supplier Manhattan Beauty, which hasRead MoreChannel, Leases, Office, Retail, 505 Eighth Avenue, Allen Gurevich, Avondale Care Group, GFP Real Estate  Commercial Observer Read More 

Robert Khodadadian has long had a simple philosophy about selling real estate. The way he sees it, there are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller at the right time.

Robert Khodadadian, properties, ground leases, ground lease, off market, investment sales, khodadadian, Commercial Real Estate Sales, Commercial Observer, Retail For Lease, Commercial Observer,

Commercial Office Lease

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