{"id":146328,"date":"2026-02-26T17:44:29","date_gmt":"2026-02-26T17:44:29","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/146328\/"},"modified":"2026-02-26T17:44:29","modified_gmt":"2026-02-26T17:44:29","slug":"manhattan-psychiatry-group-signs-5k-sf-lease-at-515-madison-avenue-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/146328\/","title":{"rendered":"Manhattan Psychiatry Group Signs 5K-SF Lease at 515 Madison Avenue \u2013 Commercial Observer"},"content":{"rendered":"

GFP Real Estate<\/a> has signed three new leases at 515 Madison Avenue spanning about 12,000 square feet.<\/p>\n

The largest of the three deals was for Manhattan Psychiatry Group<\/a>, which signed a lease for 4,558 square feet on the 16th floor of the 42-story Plaza District building for a term of three years, according to the landlord.<\/p>\n

SEE ALSO: Northwell Health Affiliate Signs 8K-SF Lease in Forest Hills<\/a><\/p>\n

The asking rent in the building was not disclosed, but the average asking rent for office space in Midtown in the fourth quarter of 2025 was $84.24, according to a report from CBRE<\/a>.<\/p>\n

Matthew Mahland of Savills<\/a> negotiated on behalf of Manhattan Psychiatry Group in the deal, while Martin McGrath and Kephra Stone represented GFP Real Estate in-house alongside William Grover of Newmark<\/a>.<\/p>\n

Newmark and Savills did not immediately respond to requests for comment.<\/p>\n

Meanwhile, alternative asset management firm Whitebox Advisors<\/a> signed a four-year, 3,956-square-foot lease on the 34th floor of the building. Owen Reda of CBRE<\/a>, who handled negotiations for the tenant, did not immediately respond to a request for comment.<\/p>\n

Lastly, home equity lending company Spring EQ<\/a> is establishing its first New York City presence with a three-year lease for 3,956 square feet on the 42nd floor, with Jonathan Anapol of Manhattan Prime Realty<\/a> representing the tenant in the transaction.<\/p>\n

Anapol did not immediately respond to a request for comment.<\/p>\n

The leases follow a January announcement<\/a> that GFP closed on an $86.5 million deal with Apple Bank to refinance the 350,000-square-foot Class A office tower, which helped them buy out ATCO Properties & Management\u2019s remaining 40 percent stake in the property.<\/p>\n

Mark Hallum can be reached at mhallum@commercialobserver.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"GFP Real Estate has signed three new leases at 515 Madison Avenue spanning about 12,000 square feet. The…\n","protected":false},"author":2,"featured_media":146329,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[61344,24470,61345,2361,75,84,83,61346,61347,9,24,63,2362,34483,61348],"class_list":{"0":"post-146328","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-manhattan","8":"tag-515-madison-avenue","9":"tag-jonathan-anapol","10":"tag-kephra-stone","11":"tag-leases","12":"tag-manhattan","13":"tag-manhattan-headlines","14":"tag-manhattan-news","15":"tag-martin-mcgrath","16":"tag-matthew-mahland","17":"tag-new-york","18":"tag-new-york-city","19":"tag-nyc","20":"tag-office-leases","21":"tag-owen-reda","22":"tag-william-grover-channel"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/146328","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=146328"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/146328\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/146329"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=146328"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=146328"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=146328"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}