Life Insurance Provider Takes 11K SF at Feil’s 488 Madison
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.
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 (NMRK) 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.
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