Life Insurance Provider Takes 11K SF at Feil’s 488 Madison

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Standard Security Life Insurance Company of New York has signed a 10-year lease for 11,314 square feet at 488 Madison Avenue, Commercial Observer has learned.

The insurer will be relocating from its former long-time headquarters down the block at 485 Madison Avenue in favor of more space at 488 Madison, also known as The Look Building, according to landlord The Feil Organization

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Standard Security will occupy a portion of the 11th floor in the landmarked Midtown East building starting Sept. 1, according to Feil.

“It is a testament to the building’s central Midtown location, stable, long-term ownership and value-oriented pricing,” Brian Feil, executive vice president of leasing for Feil, said in a statement. “We offered to deliver Standard Security Life Insurance Company of New York an attractive, custom-built office installation overlooking St. Patrick’s Cathedral at a competitive rental rate. It seems value is still appreciated by the Midtown Manhattan business community”

Scott Gutnick of Newmark represented the tenant while David Turino handled it for Feil in-house.

Newmark did not immediately respond to a request for comment and Feil did not disclose the asking rent.

Mark Hallum can be reached at mhallum@commercialobserver.com.