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New York & Tri-State  + Midtown New York  + Office  |  October 17, 2025
Paul Bubny
By: Paul Bubny

GFP Brings 515 Madison Ave. to 99% Occupancy

GFP Real Estate, LLC secured five new and renewal lease transactions at 515 Madison Ave. in Manhattan’s Plaza District.  Totaling 18,849 square feet, the deals bring the office property to 99% leased.

The deals include the following:

  • Highwater Capital Group LLC signed a three-year lease renewal for its 3,655-square-foot space.  Martin McGrath and Kephra Stone of GFP Real Estate represented the landlord and the tenant.
  • Citrinitas Capital Management LLC leased 2,793 square feet for two years. McGrath and Stone, along with William Grover of Newmark, represented the landlord and the tenant in this direct transaction.
  • Encore Physical Therapy and Chiropractic PLLC and Li Qian Acupuncture PC, jointly and severally, signed a new 11-year lease for 6,480 square feet. McGrath and Grover represented the landlord. Steve Hass of Norman Bobrow & Co. represented the tenants.
  • RSHR Management, LLC signed a three-year lease extension for its 1,969-square-foot space.  McGrath represented the landlord and the tenant.
  • Woodhill Real Estate signed a new six-year lease for 3,952 square feet. McGrath represented the landlord and Grover represented the tenant.
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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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