Optimize Topco Leases 12318 Square Feet At 505 Eighth Avenue In Manhattan With Allen Gurevich
505 8th Avenue
Building Size
12,318 SF
Asset Type
Office
Closing
Dec 22, 2025
AI
The property involved in the transaction is an office space located at 505 8th Avenue in Manhattan, encompassing a total area of 12,318 square feet. The office space has been fully leased by a new tenant.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 505 8th Avenue
- Market: Manhattan
- Landlord: Jeff Gural - GFP Real Estate
- Tenant: Optimize Topco
- Broker: Allen Gurevich - GFP Real Estate
- Lease Duration: Three years
- Previous Address of Tenant: 355 Lexington Avenue
- Leased Floor: 16th floor
Key individuals involved in this transaction include Jeff Gural, representing GFP Real Estate as the landlord, and Allen Gurevich, also from GFP Real Estate, serving as the broker in this lease agreement. Optimize Topco operates under the name Applause.
Players
New York Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93