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Deals & Dealmakers

Insurance brokerage firm USI takes 34,080 s/f at Sapir’s 261 Madison

Insurance brokerage and consulting firm USI Insurance Services has signed 34,080 s/f lease at the Sapir Organization’s 261 Madison Avenue in Midtown.

USI, which was previously a subtenant in the building, is taking the entire fifth floor and a portion of the sixth floor. The firm’s new location will also house the insurance brokerage business of Well Fargo. USI acquired the Wells Fargo arm in June of this year.

USI, which is headquartered in Valhalla, New York, is one of the largest privately-held insurance brokerage firms in the country. It has more than 4,400 associates in more than 140 offices.

The property is a 383,934 s/f tower located between 38th and 39th Street. The Sapir Organization owns the building as well as 260 Madison Avenue. The building’s tenant roster includes Coca Cola North America, Epix Entertainment, Signature Bank, Chase Bank and Japanese restaurant, Zuma

A Cushman & Wakefield team composed of David Itzkowitz and Jack Keesser represented the tenant in the transaction.

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