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Brokerage
Posted: October 29, 2024
AIS expands at Feil’s 257 Park Ave. South
Manhattan, NY The Feil Organization said that office furniture company AIS has expanded its presence at 257 Park Ave. South with a new 10-year, 12,617 s/f lease. The furniture purveyor will outfit the entire fourth floor of the office tower as its new showroom.
“It’s a pleasure to be able to support the growth of AIS at 257 Park Ave. South,” said Andrew Wiener, head of commercial office leasing at the Feil Organization.
Scott Panzer and Justin Haber of JLL represented AIS in the transaction, and Feil was represented in-house by Andrew Wiener and Robert Fisher.
Wiener said, “This expansion continues the trend of Feil’s ability to accommodate innovative company needs within our portfolio. We’re looking forward to seeing AIS’ beautiful new showroom.”
“257 Park Ave. South has been a wonderful place for us to host our dealers, designers, and customers over the years, so when it came time to grow our footprint, we had no doubt we wanted to work with Feil to make it happen here,” said Ben Maxwell, senior vice president of sales – eastern region . “As we build out our new showroom to extend our brand and feature our unique product solutions, the support from Feil has been invaluable.”
This lease brings 257 Park Ave. South to 80% leased following strong leasing activity at the property. Recently, Feil signed a 39,000 s/f, 30-year lease with Phipps House at 257 Park Ave. South, the oldest and largest not-for-profit developer of affordable housing in New York City.
257 Park Ave. South, also known as the Gramercy Park Building, is in the Flatiron District/Union Square/Gramercy Park neighborhood. Situated at the corner of 21st St., the 20-story art deco building offers magnificent views of Midtown-South and is surrounded by a variety of commercial businesses and a neighborhood. The 238,000 s/f building will soon feature brand new elevators, new storefronts and entryway, along with a renovated security desk. Feil owns two other commercial assets in the same vicinity, including 250 and 251 Park Avenue South.
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