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Deals & Dealmakers

Feil Organization Announces Lease Renewal and 5k SQ. FT. Expansion of Maytex Mills at 261 Fifth Avenue

The Feil Organization, one of New York City’s premier real estate investment firms, announces Maytex Mills, a multi-national home furnishing manufacturer and distributor, renewed and expanded its lease contract at 261 Fifth Avenue by 5,460 square feet, bringing its total occupancy to 24,553 square feet across part of the tower’s 16th, 17th and 18th floors. Evan Margolin of JLL and Zev Holzman of Savills represented Maytex Mills in the transaction, and David Turino represented Feil in-house. 

The expansion and long-term renewal of Maytex Mills comes on the heels of four additional lease expansions at 261 Fifth Avenue in the past year. Tenants Natori, CultHealth, Flad Architects and Town & Country renewed and expanded each of their leases, totaling 33,936 square feet of additional space. With these expansions, the occupancy of the five tenants, including Maytex Mills, totals 96,233 square feet across eight floors. 

The additional notable expansions include:

  • In July 2022, Natori, the upscale women’s fashion designer, expanded by 3,289 square feet, totaling 10,394 square feet.
  • In Q4 2021, CultHealth, a healthcare-focused, full-service advertising agency, relocated its office space and expanded by 4,604 square feet. The company now occupies a total of 14,309 square feet. 
  • In Q3 2021, Flad Architects, a national architectural and engineering firm, expanded its square footage by 5,293 square feet, growing to a total of 12,298 square feet.
  • In Q1 2021, Town & Country, the historic, monthly-issue American lifestyle magazine, added 15,290 square feet. In total, the magazine occupies 34,679 square feet. 

“261 Fifth Avenue is an unparalleled office building centrally located within the popular 23rd-30th street corridor, which offers convenient access to transit, close proximity to Madison Square Park and an abundance of premier retail and restaurant options,” said Andrew Wiener, Head of Commercial Leasing at the Feil Organization. “The building, and its prime location, are perfectly suited for the area’s growing roster of TAMI tenants.”

261 Fifth Avenue is a 25-story, 450,000-square-foot office building, located in the NoMad submarket. Built in 1928, Feil acquired the asset in 2005 and recently invested $20 million into building renovations and updates which include brand-new retail storefronts, lobby renovation, elevator modernization, and new windows alongside updated common corridors and bathrooms. The fully-renovated 10th floor of 261 Fifth Avenue has been transformed into a marketing suite. The 19,326-square-foot office space features exposed columns, high ceilings, and plenty of natural light. 

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