GFP Signs Three New Leases Totaling 11,523 SF at 171 Madison Ave.

GFP Real Estate, LLC is pleased to announce it has signed three leases at 171 Madison Ave. in Midtown South totaling 11,523 square feet.

In the first transaction, Presentation Products, Inc., a leading audio-visual systems integration and solutions provider, signed a seven-year lease extension for its 6,196 square feet on the 12th floor.  The company, which first moved into the building in 2017, will continue to use the space for its general and executive offices.

Allen J. Gurevich of GFP Real Estate represented the landlord, GFP Real Estate, in the transaction.  Jordan Gosin and Michael Horn of Newmark represented the tenant, Presentation Products, Inc.

In the second transaction, JDO Global (d.b.a. JDO USA, Inc.), a global independent strategic brand design agency with studios in London, New York and Shanghai, signed a new four-year lease for 2,100 square feet on the 14th floor.  JDO, which is expected to move in following construction, will relocate from its current location at 636 Broadway.  The space was previously occupied by Manhattan Cognitive Behavioral Associates/Psychologists, PLLC.

Allen J. Gurevich of GFP Real Estate represented the landlord, GFP Real Estate, in the transaction.  Jake Cunningham of Velocity Real Estate represented the tenant, JDO USA, Inc.

In the third transaction, Blue Card, Inc., a nonprofit whose mission is to provide Holocaust survivors and their families with financial assistance and genuine support, signed a five-year lease renewal and expansion for 3,287 square feet of space on the 14th floor.  Blue Card, which first moved into the building in 2003, will add an additional 800 square feet to its existing 2,487 square feet offices, taking over the suite next door.

(Credit: GFPRE; GFP grants permission to use these photos for publication)

Allen J. Gurevich of GFP Real Estate represented the landlord, GFP Real Estate, and the tenant, Blue Card, Inc., in the transaction.

While the terms of the transactions were not disclosed, asking rents at the building are in the $50 to $55-per-square-foot range.

171 Madison Avenue was designed by the architect William H. Gompert and originally completed in 1918. The 17-story, 135,000-square-foot property features a brand-new lobby, building entrance and elevators, while office spaces offer excellent natural light with exposure on three sides. Located just one block from the Empire State Building, 171 Madison Avenue’s neo-classical façade is brick with applied masonry.  Access to the 6 train is one block away with further connections available at nearby Grand Central Terminal.

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.