Gural family notches 2 big leases at 520 Eighth Ave

Entertainments Benefits Group moves into Midtown property

New York /
Sep.September 18, 2018 05:30 PM

From left: Eric Gural, 520 Eighth Avenue, and Brian Steinwurtzel (Credit: Getty Images and Google Maps)

GFP Real Estate signed two leases totaling 52,769 square feet at its office building 520 Eighth Avenue, the company announced Tuesday.

Travel and entertainment company Entertainment Benefits Group is taking 12,769 square feet at the property in a five-year deal, which was brokered by GFP’s Matthew Mandell. Meanwhile, labor organization Mason Tenders’ District Council Welfare Fund renewed its 40,000-square-foot lease for 10 years. The asking rent in the building is $48 per square foot.

GFP, formerly known as Newmark Holdings, is controlled by the Gural family and headed by Eric Gural and Brian Steinwurtzel. The company bought the 25-story, 860,000-square-foot building in the 1970s. The building is also home to the magazine The Nation.

Earlier this year, GFP bought the FiDi office building 7 Hanover Square for $310 million.

Correction: The Gurals bought the building in the 1970s, not 2004.


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