GFP Real Estate completes five leases totaling 11,437 s/f at 515 Madison Ave.

Manhattan, NY GFP Real Estate, LLC has completed five lease transactions totaling 11,437 s/f at 515 Madison Ave. in the Plaza District, bringing the office tower to 95% leased.

“Since the pandemic, 515 Madison has performed exceptionally well—we’re now nearing full occupancy with close to 100% leased, and several more deals in the pipeline,” said Jeffrey Gural, chairman of GFP Real Estate. “The demand has been strong, and we expect the building to be fully leased very soon.”

• Luxury bridal showroom and boutique Mark Ingram Atelier expanded, signing a 20-year lease for an additional 2,000 s/f of space on the sixth floor. The atelier, which first moved into the building in 2023, has 8,360 s/f of space on the second floor, bringing the company’s total footprint at the building to 10,360 s/f, respectively. Martin McGrath of GFP Real Estate and William Grover of Newmark represented the landlord, GFP Real Estate, and the tenant in the transaction.
• The Ladies of Charity of the Catholic Charities of the Archdiocese of NY, Inc., a charitable organization that provides assistance to those in need, particularly through emergency aid, signed a five-year lease for 1,277 s/f of space on the 12th floor. Martin McGrath of GFP Real Estate and William Grover of Newmark represented the landlord, GFP Real Estate; Ellen Sanfilippo and Ephriam Setton of R New York represented the tenant.
• Grace & White, an investment management firm catering to high-net-worth individuals, signed a 10-year lease extension for its 3,073 s/f of space on the 17th floor. Martin McGrath of GFP Real Estate represented the landlord, GFP Real Estate; Josh Berger of Norman Bobrow & Co., Inc represented the tenant. The company first moved into the building in 2004.
• Andrei Mark, DDS, P.C., a board-certified oral surgeon with over three decades of experience, signed a 10-year lease extension for its 3,794 s/f of space on the 28th floor. Martin McGrath of GFP Real Estate represented the landlord, GFP Real Estate; Peter Olans of Trident Commercial Realty represented the tenant. The company first moved into the building in 2011.
• George Lederman Inc., a family-owned custom jewelry design and manufacturing company—and tenant at 515 Madison Ave. for nearly 75 years—signed a 10-year lease extension for its 1,293 s/f of office and showroom space on the 19th floor. Martin McGrath of GFP Real Estate represented the landlord, GFP Real Estate, and the tenant.