GFP Real Estate, LLC is pleased to announce that The Tailor Public House, a restaurant and bar offering classic comfort food, craft beers and specialty cocktails near Madison Square Garden, has signed a five-year lease extension through 2038 for its existing 12,600-square-foot corner retail space at 505 Eighth Avenue at the corner of 35th Street.
“We are thrilled to see The Tailor Public House extend its lease long term. They are a great example of a local NYC business that managed to persist through the dark days of the pandemic and come through on the other side,” said Allen Gurevich, Senior Managing Director of GFP Real Estate. “Now that things are returning to ‘normal,’ having restaurants and bars that serve local office workers and those attending events at The Garden is crucial to the continued success of the neighborhood and city at-large.”
Allen Gurevich of GFP Real Estate represented the landlord and the tenant in the transaction. The 12,600-square-foot space comprises approximately 2,100 square feet of ground level retail space, 9,200 square feet of mezzanine space and 1,400 square feet of basement space. The Tailor Public House first moved into the building in 2017; the lease extension adds five additional years to the restaurant’s existing 15-year lease.
505 Eighth Avenue, originally known as the Hoover Building, was built in 1926 by the architect Chester James Storm. The 25-story, 275,000-square-foot building features a modernized, 24/7 attended lobby that is attended 24/7 and offers keycard access for convenient and secure access at all hours of the day. Situated on the Northwest corner of Eighth Avenue and 35th Street, 505 Eighth Ave. is located one block away from Penn Station, with links to the A, C, E, 1, 2, and 3 subway lines, NJ Transit Trains, LIRR and Amtrak. Additionally, only a few blocks away are links to the B, D, F, M, N, Q, R, W subway lines which complement the already easy commute to and from the building.
For more information on 505 Eighth Ave., including current leasing opportunities, please call Allen J. Gurevich of GFP Real Estate at 212.609.7141, or email [email protected].