Manhattan, NY The Feil Organization signed Wave Sports & Entertainment (Wave) to a long-term lease totaling 8,320 s/f at 145 W 30th St. Wave will occupy the entire 11th floor of the boutique, loft-style office property located in Midtown.
“Leasing activity across our portfolio continues to build momentum as tenants seek high-quality office spaces with elevated finishes and full-floor opportunities,” said Andrew Wiener, head of commercial leasing at The Feil Organization. “We’ve been successful in attracting a diverse mix of tenants by delivering spaces that can accommodate different workplace needs, and Wave is a great example of how we continue to meet that demand.”
“When we started looking, this one checked a lot of boxes right away - full-floor layout, more space for our growing team, and an easy location for people coming in and out of Penn. Feil was great to work with, and we like the flexibility this gives us not just in this space, but across their broader portfolio as we keep building in New York,” said Ryan Jann, chief business officer at Wave.
145 West 30th St. is a 12-story loft-style office building near the Penn Plaza commercial district, home to Madison Square Garden, the Paramount Theatre, and Pennsylvania Station — New York’s largest transportation hub. Built in 1913 and designed by the renowned architectural firm Sommerfeld & Steckler, 145 West 30th St. offers prospective tenants an opportunity to capitalize on a stellar location and room to grow, with recent renovations including new windows, tenant-controlled AC, and a refurbished and expanded lobby.
The Feil Organization was represented in-house by Wiener and Kyle Young. The tenant was represented by Matthew DeRose of the NoMad Group.
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,