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Deals & Dealmakers

Tech tenant to move in at 261 5th

Media iQ Digital, an analytics and technology company, has leased more than 23,000 s/f comprising the entire 25th and 26th floors at 261 Fifth Avenue, announced building owner and manager The Feil Organization.

The asking price for the 10-year lease was $85 psf.

Relocating from 8,013 s/f at Feil’s 853 Broadway, Media iQ is in the process nearly tripling its space.
Its new location will include exclusive access to a significant portion of a private rooftop terrace via passenger elevator. The lease brings the 405,000 s/f 261 Fifth Avenue building to more than 87 percent occupancy.

Brian Feil, Vice President of Leasing for The Feil Organization, commented, “This proves that our strategy of owning corner buildings in great locations near transportation and of various size around the city allows us to establish and maintain long-term relationships with our tenants. Over the past 10 years, we have patiently renovated and upgraded the majority of our office properties, and in each case have succeeded in bringing in high-caliber tenants.”

The building has a combination of tenants, approximately 50 percent of whom are in the homegoods industry and 50 percent general office users.

David Turino, Director of Commercial Leasing at The Feil Organization, represented the firm in the lease, while Brian Palumbo provided in-house legal counsel for Feil. Frank Coco and Owen Hane of JLL represented the tenant.

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