The Feil Organization has signed two major leases totaling nearly 70,000 s/f at 257 Park Avenue South, the company announced yesterday (Tuesday).
The Environmental Defense Fund (EDF) has signed a long-term renewal for 44,010 s/f, and plans to implement several sustainability features in the space, said Robert Fisher, director of commercial leasing for Feil, the owner and manager.
“This is the perfect site and perfect building for the Fund to be in,” said Fisher. “We have a great location near Union Square and Gramercy Park and 13.5 ft. ceilings that offer extraordinary amounts of natural light and spectacular views of Gramercy Park.”
The EDF has been a tenant at 257 Park Avenue South, also known as the Gramercy Park Building, since 1996.
In addition, Madison Logic signed for 24,562 s/f, a significant expansion of its existing space at the building. The company is a provider of data-powered lead solutions for world-class B2B advertisers.
“Madison Logic is a growing technology company and the area around 257 Park Avenue South increasingly is becoming a high-tech corridor in the city,” Fisher noted. “It’s a terrific match.”
Marc Ellman, president of Ellman Realty Advisors, who represented commented, “This growing tech company determined this building to have the most pleasing aesthetics for its employees and just loved its location on 20th Street.”
Ellman had initially placed them in approximately 12,300 sf on a two year sublet. Following a dialogue with the owners’ representative, Ellman was able to confirm and secure the vacating of an off market contiguous floor to accommodate their growth.
Brian Feil, vice president of leasing for The Feil Organization, and Fisher represented the owner in both transactions. Brian Palumbo and Michele Frankel worked as in-house counsel for Feil.
Alan Desino, executive managing director of Colliers International, represented the EDF.
Other tenants at 257 Park include Team Detroit, a division of WPP; SpaFinder Wellness.