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A.R.T./New York Signs 20-Year Renewal at 520 Eighth Ave.
The Alliance of Resident Theatres/New York (A.R.T./New York), an arts service organization, has signed a full-floor, 20-year lease renewal for 32,000 square feet at 520 Eighth Ave. in the Garment District.
A.R.T./New York will continue to use the space as rehearsal studios, offices for member theatre companies and as its headquarters. 520 Eighth Ave. is home to a number of entertainment-related tenants including Ripley Grier, which recently expanded its footprint there to 62,000 square feet; and The Barrow Group, which recently signed a 15-year, 13,155-square-foot lease.
Matthew Mandell of GFP Real Estate represented both the landlord and the tenant in the direct lease transaction.
“As the entertainment industry reawakens, A.R.T./New York will be able to continue to serve its clients at 520 Eighth Ave. for many years to come,” said Jeffrey Gural, chairman and principal of GFP Real Estate.
- ◦Lease