GFP Real Estate

What GFP Real Estate does

GFP Real Estate is a vertically integrated, privately-held commercial real estate owner, operator, property manager, and developer headquartered in New York City. Founded in 1952 and now in its third generation of Gural family ownership, the company owns 57 buildings totaling more than 13.8 million square feet across Manhattan submarkets including the Flatiron Building (175 Fifth Avenue), the Film Center Building (630 Ninth Avenue), 515 Madison Avenue, 40 Worth Street, and 1560 Broadway. In addition to its owned portfolio, GFP provides management and leasing services to third-party building owners covering more than 5 million square feet, bringing the combined GFPRE portfolio to 70 buildings and over 17.5 million square feet in the New York Tri-State region.

The company's revenue model is anchored in recurring commercial leasing income across its owned and managed office, retail, and mixed-use portfolio, supplemented by third-party management and leasing fees. GFP serves a diversified tenant base of more than 2,500 organizations—approximately one-third of which are non-profits—spanning small and medium-sized businesses, enterprise anchor tenants (The Gap, Omnicom Group, Legal Aid Society, Chelsea Piers), and a growing cohort of technology and AI-driven companies. The most recently disclosed revenue figure is $354 million for fiscal year 2017, a 6% increase year-over-year. The company employs more than 600 full-time professionals and operates without a proprietary technology platform, relying instead on in-house leasing, asset management, development, construction, and property management teams. As of 2026, GFP has launched GFP Development as an affiliated entity to formalize and expand its development and repositioning capabilities, and is in advanced negotiations to take the ground lease on the Chrysler Building.

Name

GFP Real Estate

Legal name

GFP Real Estate, LLC

Website

https://gfpre.com

Company type

Private

Founded year

1952

Operating status

Operating

Headcount range

101–250 employees

Short description

GFP Real Estate is a New York-based, family-owned commercial real estate owner, operator, and developer managing 57 owned and 70 total buildings across 17.5 million square feet in Manhattan, serving 2,500+ tenants including SMBs, enterprises, and non-profits.

Ownership category

akta.pro rank

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Supply Chain, Others

Revenue model

1. Commercial Real Estate Leasing: GFP Real Estate generates primary revenue through leasing commercial office, retail, and industrial space across its owned and managed portfolio of over 70 buildings with more than 17.5 million square feet in the New York Tri-State region. The company also earns fees for providing management and leasing services to third-party building owners.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels7 records

Core offering

GFP Real Estate is a vertically integrated commercial real estate owner, operator, property manager, and developer in the New York Tri-State Region. The company owns 57 buildings with over 13.8 million square feet and provides management and leasing services for third-party building owners covering more than 5 million square feet, totaling 70 buildings and 17.5+ million square feet. Service lines include acquisitions, asset management, development and construction, leasing and tenant representation, and full-service property management for office, retail, and mixed-use properties.

Product overview

GFP Real Estate is a vertically integrated commercial real estate company operating as an owner, operator, property manager, and developer of commercial real estate properties in the New York Tri-State Region. The company's portfolio includes office buildings, retail spaces, and mixed-use properties. GFP Real Estate provides services directly through its own property management, leasing, asset management, and development teams rather than through a technology product or software platform. The company manages approximately 57 buildings with over 13.8 million square feet under ownership and additionally provides management and leasing services to third-party building owners covering more than 5 million square feet.

Differentiator

Problem solved

Functional benefit

Products and services

• Commercial Real Estate Leasing (Owned Portfolio) Leasing of office, retail, and mixed-use commercial space in GFP-owned buildings across Manhattan to small and medium-sized businesses, non-profits, and enterprise tenants.
• Third-Party Property Management and Leasing Services Property management and leasing services offered to third-party building owners, extending GFP's reach beyond its owned portfolio and covering more than 5 million square feet.
• GFP Development (Development and Construction Platform) Vertically integrated development and construction services including large-scale repositioning, adaptive reuse, and ground-up development projects across New York City. Active projects include 100 Gold Street, 25 Water Street, 222 Broadway, and 40 Exchange Place.
• Real Estate Acquisitions Identification, underwriting, and acquisition of commercial real estate assets in the New York Tri-State Region, including joint venture partnerships.
• Asset Management Services Strategic asset management services for owned and third-party commercial real estate portfolios, including capital planning, financial analysis, mortgage processing, and bank reconciliation oversight.

Quantifiable outcome

• 99% portfolio occupancy rate across owned properties
• +5 more outcomes

Named customers11 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered minor and core.

• Cooper UnionminorOthers · 28 April 2026Cooper Union, which owns the land beneath the Chrysler Building at 405 Lexington Avenue, is in advanced talks with GFP Real Estate to become the new ground leaseholder. The previous lease with RFR Holding was terminated after $21 million in arrears. Ground rent is expected to reach $41 million in two years.
• Metro LoftcoreStrategic or Co-development Partner · 2 December 2025Metro Loft joined GFP Real Estate and Rockwood Capital in securing an $835 million refinancing package for 25 Water Street, a historic office-to-residential conversion in the Financial District. Metro Loft is a co-development partner on this major conversion project.
• Northwind GroupcoreStrategic or Co-development Partner · 1 January 2015Northwind Group partnered with Newmark Holdings (now GFP Real Estate) to acquire 40 Exchange Place in the Financial District for $115 million in 2015. The joint venture undertook a $20 million gut renovation and subsequently secured the Capital One financing.
• CBREminorChannel Partner/ Reseller/ DistributorCBRE brokers (Craig Reicher, Christopher Mansfield, Greg Maurer-Hollaender, Peter Gamber) represented The Legal Aid Society as tenant representative in its 30-year, 198,900 SF lease at 40 Worth Street, while GFP's Brian Steinwurtzel and Roy Lapidus represented the landlord.

Scale indicators13 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Metro Loft Management: NYC-based office-to-residential conversion specialist and GFP's co-development partner on 25 Water Street. Highly comparable given shared focus on adaptive reuse of older Manhattan office product.
• SL Green Realty Corp. Manhattan-focused office REIT owning and operating a large portfolio of office properties in NYC, including a growing focus on office-to-residential conversion. Most direct publicly-traded comparable to GFP in terms of submarket focus and asset class.
• Vornado Realty Trust: NYC office landlord with a portfolio concentrated in Manhattan trophy and Class A assets, including the Penn District. Comparable to GFP in target tenant base (large-format office) and Manhattan geographic focus.
• Empire State Realty Trust: Office and retail REIT with a portfolio heavily concentrated in Manhattan and the greater NYC metro, including the Empire State Building. Comparable to GFP for both asset class mix and concentration in NYC office.
• RFR Holding: Private NYC real estate investor, owner, and developer active in commercial office and trophy assets, including the prior Chrysler Building ground lease referenced in GFP's recent deal pipeline. Closest private peer in scale and NYC strategy.
• Olmstead Properties: NYC commercial real estate owner and operator that has partnered with GFP on joint acquisitions (43-01 22nd Street in LIC). Highly comparable in tenant mix, asset class, and Tri-State focus.
• Rockwood Capital: Real estate investment firm focused on office, multifamily, and mixed-use opportunities in NYC and other gateway markets. Co-invested with GFP on the 25 Water Street conversion and broadly comparable in capital partner profile.

Broad incumbents

• Brookfield Properties: Large-scale owner and operator of Class A office towers in Manhattan and other gateway cities. Less of a niche SMB/non-profit focus than GFP, but overlaps heavily in NYC office ownership and repositioning.
• Cushman & Wakefield: Global commercial real estate services firm that advises on leasing, valuation, and asset management in NYC. Comparable to GFP in serving the same Manhattan commercial tenant universe, though operating as a service provider rather than principal.

Others

• Newmark Group: Public commercial real estate services firm (formerly Newmark Knight Frank) historically affiliated with the Gural family — Newmark Holdings was renamed to GFP Real Estate in 2017 partly to disambiguate the two. Adjacent rather than directly competitive, but historically and operationally linked.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubevimeo.com/user85469987
• LinkedInlinkedin.com/company/gfp-real-estate
• Instagraminstagram.com/gfprealestate

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries1 record

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about GFP Real Estate