The Shubert Organization Signs 11-Year Lease For 14,480 Square Feet At 520 Eighth Avenue
520 8th Avenue
Building Size
14,480 SF
Asset Type
Office
Closing
May 19, 2026
AI
The asset involved in the transaction is an office property located at 520 8th Avenue in Manhattan, with a total square footage of 14,480. The property is situated on the 11th floor of the building, which is owned by GFP Real Estate.
Summary of transation details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 520 8th Avenue
- Market: Manhattan
- Landlord: Jeffrey Gural & Matthew Mandell - GFP Real Estate
- Tenant: The Shubert Organization
- Lease Terms: 11-year lease
The Shubert Organization has secured an 11-year lease, thereby continuing its long-standing occupancy in the building managed by GFP Real Estate. Jeffrey Gural and Matthew Mandell represent the landlord in this transaction.
Players
Rochester 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