News:
Brokerage
Posted: September 24, 2024
The Feil Organization renews 11,300 s/f lease with Jonathan Rose Cos. at 551 Fifth Ave.
Manhattan, NY The Feil Organization has signed an 11,300 s/f renewal with Jonathan Rose Companies at 551 Fifth Ave. The deal extends their lease on the 23rd floor for 10 years.
“Per our longstanding relationship with Jonathan Rose Companies, we’re excited to see them recommit for another 10 years at the same Fifth Ave. address,” said Andrew Wiener, head of commercial leasing at The Feil Organization. “We’re working diligently to upgrade and modernize their space to set them up for another decade of success.”
The Feil Organization was represented in-house by Andrew Wiener, Kevin Driscoll, and Henry Korzec. Jonathan Rose Companies was represented by John Fitzsimons and Giorgio Versea of Cushman & Wakefield.
“We are very pleased to be renewing our lease at the Fred French Building, 551 Fifth Ave. This wonderful location, in an iconic building, has been our home for 14 years,” said Jonathan Rose, president of Jonathan Rose Companies. “We are looking forward to continuing our long-standing relationship with The Feil Organization and its onsite staff.”
“We’re grateful to close yet another successful deal with the Feil Organization,” said John Fitzsimons of Cushman & Wakefield. “Feil is working around the clock to prepare an updated and modernized space for Jonathan Rose Companies.”
With this lease, Feil will have only two full floors available, alongside four office spaces. The firm is also installing new passenger and freight elevators, which is expected to be completed in early 2025.
551 Fifth Ave., also known as the Fred F. French building, is a class-A office skyscraper in Midtown. Completed in 1927, the building is a New York City designated landmark and was added to the National Register of Historic Places in 2004. The Art Deco design by Sloan & Robertson was restored in the early 1990s. 551 Fifth Ave. is located near Grand Central Terminal and the new Long Island Rail Road connection at Grand Central Madison, as well as hotels, restaurants and retail stores.
Tags:
Brokerage
MORE FROM Brokerage
Horizon Kinetics relocates new headquarters to Tishman Speyer’s Rockefeller Center
Manhattan, NY According to Tishman Speyer investment boutique Horizon Kinetics Asset Management LLC will relocate its current New York office to 18,713 s/f on the 27th floor of 1270 Avenue of the Americas at
.jpg)
Quick Hits
Columns and Thought Leadership
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian
Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski
The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account
AI comes to public relations, but be cautious, experts say - by Harry Zlokower
Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
Strategic pause - by Shallini Mehra and Chirag Doshi
Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
.gif)