For the second time in a month, the Feil Organization found a taker for a major chunk of area in its Manhattan portfolio.
Structure agency HDR Engineering signed a lease for 74,000 sq. ft at 370 Seventh Avenue, in any other case often called 7 Penn Plaza, the New York Publish reported. The worker-owned firm will take up three flooring on the Midtown deal with.
HDR is relocating from 500 Seventh Avenue, the place the corporate occupied a barely smaller 63,000-square-foot area. The asking lease on its 7 Penn Plaza workplace was $70 per sq. foot.
Andrew Wiener and Kyle Younger represented Feil in-house, whereas a JLL staff represented the tenant.
Feil’s 7 Penn Plaza is 90 p.c leased following the cope with HDR. Different tenants on the 357,000-square-foot constructing embrace Estreich & Firm, SOSV and Feil itself. Feil not too long ago launched a capital enchancment program, that includes a rooftop lounge that continues to be beneath development.
Final month, poverty-relief nonprofit Robin Hood signed a 30-year lease for 53,000 sq. ft at Feil’s 841 Broadway in Union Sq.. The lease, which incorporates 4 flooring of the Roosevelt Constructing, introduced the property to full occupancy.
Elsewhere in Manhattan, Feil’s workplace constructing at 261 Fifth Avenue in Midtown South entered special servicing after the corporate did not repay its $180 million mortgage in September. Regardless of the missed fee, Fitch Rankings reported in July that the property generates sufficient money to service its money owed, suggesting a possible alternative for refinancing at a better fee.
MiQ Digital signed a 42,000-square-foot, 12-year growth at that constructing not too long ago, contributing to greater than 60,000 sq. ft leased on the property to date in 2026.
Manhattan tenants leased 3.6 million square feet of office space final month, based on Colliers. That represented a 38 p.c drop from March, however remained 30 p.c above the 10-year month-to-month common.
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Feil Organization recruits real life Robin Hood, fills Union Square office building
Feil’s Midtown South office hits special servicing
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