GFP Real Estate, LLC is pleased to announce that two lease transactions totaling 5,666 square feet at 515 Madison Ave. in Manhattan’s Plaza District.
In the first transaction, Kayser& Redfern, LLP, a law firm that practices real estate, probate, corporation and literary property law, constitutional and matrimonial law, and litigation, signed a seven-year lease renewal for its existing 3,956 square feet on the 31stfloor. Martin McGrath of GFP Real Estate represented the landlord, GFP Real Estate, in the transaction; Sam Matayev of Norman Bobrow& Co. represented the tenant. Kayser& Redfern, LLP first moved into the building in 2013.
In the second transaction, Alpha Properties Group Corp. (d.b.a. Alpha Properties NYC), a boutique real estate firm specializing in residential and commercial rentals and sales across NYC, signed a lease renewalfor 1,710 square feet on the on the 30th floor of the building. Martin McGrath of GFP Real Estate represented the landlord, GFP Real Estate. Amy Elliot of Alpha Properties Group Corp. represented the tenant.
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.
About GFP Real Estate, LLC
Committed to building a better New York since 1952, GFP Real Estate is a vertically integrated owner, operator, property manager and developer of commercial real estate in the New York metropolitan area. With over 56 buildings and more than 13.8 million square feet under ownership, GFPRE’s portfolio includes some of New York’s most iconic real estate assets.