Feil signs Standard Security Life Insurance Company of New York to 11,314 s/f at 488 Madison Ave.

New York, NY The Feil Organization has signed Standard Security Life Insurance Company of New York to a 10-year lease at its 488 Madison Ave. Standard Security Life Insurance Company of New York, which has provided life and disability insurance for close to 65 years, covering nearly 70,000 employers and insuring over 800,000 lives, has taken 11,314 s/f on part of the building’s eighth floor.

A long-time occupant of 485 Madison Ave., Standard Security Life Insurance Company of New York was looking for a fresh, new installation, located in the same neighborhood. The company also sought large floorplates so it could expand into contiguous space in the future, said David Turino, director of commercial leasing at The Feil Organization. “488 Madison Ave.'s base floors measure over 27,000 s/f rentable square feet so future growth can be accommodated all on one floor."

“We are very pleased that a tenant of the caliber of Standard Security Life Insurance Company of New York chose 488 Madison for its new home. It is a testament to the building’s central Midtown location, stable, long-term ownership and value-oriented pricing” said Brian Feil, executive vice president of leasing for The Feil Organization.

"We offered to deliver Standard Security Life Insurance Company of New York an attractive, custom built office installation overlooking St. Patrick’s Cathedral at a competitive rental rate. It seems value is still appreciated by the Midtown Manhattan business community,” said Turino.

Historically referred to as “The Look Building”, 488 Madison Ave. was built in 1949 for the defunct magazine and comprises 447,000 s/f over 24 stories. Located in the heart of Midtown at the 51st and 52nd St. blockfront, the building received extensive renovations including a new lobby, retail façade, elevators and operable windows. It is easily accessible to restaurants, shopping, hotels and mass transit.

Scott Gutnick of Newmark represented the tenant. Turino represented Feil in-house. Lisa Gabler Esq. of Gabler & McVeety LLP provided legal counsel to the tenant, with Brian Palumbo providing counsel to Feil in-house. The firm will take possession of the space on September 1.