It’s a hot, global summer for office leasing in Midtown South as The Feil Organization has just signed multiple long-term leases with international and domestic companies at its 257 Park Avenue South and 853 Broadway locations in the ever-active neighborhood, the company announced.
British apparel designer Paul Smith has signed for 12,617 square feet on the fifth floor of 257 Park Avenue South for a new showroom and office. Beachwold Residential, a New York City-based, family-owned real estate company focused on the development, acquisition and management of multifamily properties in multiple states around the country has taken 12,637 square feet on the building’s 13th floor.
Loop Me, a UK-based digital advertising firm, will take 7,897 square feet on the sixth floor of 853 Broadway, joining an ever-growing list of technology, advertising, media and information tenants coming to the neighborhood.
“We are pleased to welcome a like-minded, long-term holder of real estate in Beachwold Residential and two very prestigious UK-based firms in Paul Smith and LoopMe to our Midtown South portfolio. Ownership has gotten more aggressive and proactive in pre-building larger spaces and offering more generous tenant improvement allowances, which has increased the demand for our buildings,” said Rob Fisher, Director of Commercial Leasing at The Feil Organization.
Built in 1912, the 20-story 257 Park Avenue South (known as the Gramercy Park Building) is located between 20th and 21st Streets in the heart of the Flatiron District/Union Square/Gramercy Park area. The distinctive, 226,000-square-foot building features intricate gargoyles and Art Deco graphics.
Located in the heart of Union Square at the southwest corner of Broadway and 14th Street, 853 Broadway is situated in a vibrant, growing commercial corridor. The 157,000-square-foot, landmarked building features 21 stories, and was recently rejuvenated with a dramatic new lobby and entry, a five-level floor-to-ceiling glass façade, modernized elevators and new bathrooms.
Midtown area landmarks and destinations include Union Square Station, historically the city’s fourth busiest subway station, Union Square Greenmarket, the legendary Pete’s Tavern, Baruch College, Shake Shack, the Flatiron Building, and Gramercy, Union Square and Madison Square Parks.
Fisher represented Feil in all three leases. Will Grover and Ben Shapiro of Newmark represented Paul Smith. Jared Stern of Savills represented Beachwold Residential. LoopMe was represented by Brandon Cooperstock of Savills and Justin Pollner of Newmark.
Feil’s Brian Palumbo and Tom Ruggiero provided legal counsel to the company in all three transactions. Paul Smith was advised by Hal Coopersmith of Coopersmith & Coopersmith. Charles Rubenstein provided legal counsel to Beachwold Residential. Cliff Ennico provided legal counsel to Loop Me.
ABOUT FEIL
The Feil Organization is a private, established commercial real estate firm headquartered in New York City. A powerful force in real estate for over 72 years, the company owns and operates a nationwide portfolio of over 24 million square feet of retail and commercial space, and over 5,000 residential rental homes. The Feil Organization also maintains regional offices in Chicago, New Orleans, St. Petersburg, and on Long Island.
Inquiries should be directed to Robert Fisher, Director of Commercial Leasing at The Feil Organization at (212) 609-8649 (rfisher@feilorg.com).