530 Fifth Ave. Gets New Tenant

NEW YORK CITY—GMP Capital has signed a 10-year lease for 22,559 square feet at 530 Fifth Ave. The company is relocating from 331 Madison Ave. and will take possession of the pre-built space in November. David Falk, Eric Cagner and Daniel Levine of Newmark Grubb Knight Frank represented the landlord in the GMP Capital transaction. Noel Flagg and E.N Cutler of NGKF represented the tenant.

The Yard—a network of coworking spaces in NYC that provides private office suites for small businesses and startups—plans to open a new 18,000-square-foot location in NoMad this summer. The new NoMad location will be joining two existing establishments in Williamsburg, Brooklyn and Manhattan’s Lower East Side. With the rapid growth of New York’s small business and entrepreneurial communities, The Yard hopes to expand its current network of 300 established professionals to over 2,000 throughout the year.