The Feil Organization signs 19,326 s/f lease with Lockton Re at 261 Fifth Ave.

Manhattan, NY The Feil Organization, a premier national real estate investment firm, announced that it has signed a 10-year, 19,326 s/f lease with Lockton Re, the reinsurance business of the world’s largest privately held independent insurance broker across the entire 10th floor of 261 Fifth Ave., a renovated 25-story tower. Lockton Re is relocating its headquarters from 48 West 25th St. 

Feil was represented in house by Andrew Wiener, Tim Parlante and David Turino. Don Preate of JLL represented Lockton Re. 

“We’re happy to welcome Lockton Re into our 261 Fifth Avenue tenant roster and look forward to supporting their continued success,” said Brian Feil, principal at the Feil Organization. “While flight to quality has dominated headlines, another trend has been quietly playing out in parallel, one that we know very well. Tenants are prioritizing what matters most: high quality space, attentive ownership and premier locations that don't break the bank."

“As our global business continues to grow, it’s critical for us to be in a space that supports our culture and expansion. This is a great location for our colleagues, clients, and partners with attentive management to accommodate us,” said Tim Gardner, Global CEO for Lockton Re. “261 Fifth Avenue provided this to us and more, and as one privately-held business to another, the team understood our needs intuitively,” Remarked Tim Gardner. 

The Feil Organization recently invested $20 million into revitalizing the building, including offering customizable pre-build spaces and upgrading the retail storefronts, entryway, lobby, common facilities and elevators. The pre-build program continues to receive interest from a growing prospective tenant roster.