GFP Real Estate has announced the conclusion of three new leases in its Midtown office skyscraper, 515 Madison Avenue, totalling almost 9,000 square feet of office space. The landlord made this announcement on Tuesday.
The largest of these deals comprises 3,956 square feet of office space on the 29th floor, leased by investment management firm T7 Capital for a duration of five years. It is currently unclear whether this transaction represents a relocation or a new branch for T7, whose current office address, according to its website, is 1040 Avenue of the Americas. Michael Beyda and Joel Kubie of Benchmark Group New York represented the tenant.
Furthermore, Innovation Training Specialist, a healthcare training provider, has signed a 10-year lease for 3,046 square feet on the fifth floor of 515 Madison Avenue, as reported by GFP. Max Vizgalin of OfficeNYC.com represented the tenant in this instance. Additionally, Widowski Law Group extended its lease by five years and will relocate within the building. The law firm is moving its premises from the fifth to the 27th floor, where it will occupy an area of 1,881 square feet. GFP worked directly with the law firm on this transaction.
Martin McGrath and Kephra Stone of GFP Real Estate represented the landlord in all three transactions. Kephra Stone stated that these transactions clearly demonstrated the continued appeal of 515 Madison Avenue to a wide range of companies seeking high-quality office space in one of Manhattan's premier business districts. She further noted that both new tenants were moving into the building and existing tenants were solidifying their long-term relationship with GFP through extensions and expansions. In conjunction with the property's recent refinancing and strong leasing momentum, these leases underscore the building's position as one of Midtown's most coveted boutique office destinations.
The exact rental rates for the individual deals were not disclosed. However, the average asking rent for office space in the Plaza District was $95.71 per square foot in the second quarter of 2026, according to data from Colliers. Built in 1932 and known as the DuMont Building, 515 Madison Avenue is a 42-storey office building with tenants including alternative asset manager Whitebox and therapy provider Manhattan Psychiatry Group.
