Insurer Makes Move to Feil Tower Offering Contiguous Space
The Feil Organization has signed Standard Security Life Insurance Company of New York to a 10-year lease at its 488 Madison Ave. office property. The tenant, which has provided life and disability insurance for close to 65 years, has taken 11,314 square feet on part of the building’s eighth floor.
A longtime occupant of neighboring 485 Madison Ave., Standard Security was looking for a fresh, new installation in the same neighborhood. The company also sought large floorplates so it could expand into contiguous space in the future, said David W. Turino, director of commercial leasing at The Feil Organization.
“488 Madison Avenue’s base floors measure over 27,000 rentable square feet. so future growth can be accommodated all on one floor,” Turino said.
Scott C. Gutnick of Newmark represented the tenant, while Turino represented Feil in-house. Standard Security will take possession of the space on Sept. 1.
