Leases  ·  Office

Law Firm Signs Eight-Year Extension at 551 Fifth Avenue Offices

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Law firm Schoeman Updike Kaufman & Gerber extended its lease at The Feil Organization’s 551 Fifth Avenue for another eight years, Commercial Observer has learned.

The firm, which moved into the building back in 2012, reupped on its 11,095-square-foot lease on the 12th floor of the property between East 45th and East 46th streets, according to tenant brokerage Helmsley Spear.

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Asking rent in the building is $58 per square foot, Feil said.

“This excellent Midtown location has been ideal for the 10-attorney firm, which was established

over 50 years ago in 1969,” Helmsley Spear’s Rick Marek, who represented the tenant alongside Beth Kaufman. 

Schoeman Updike Kaufman & Gerber’s Patricia O’Prey and Nancy Connery also worked on the deal for the tenant, while Feil’s Kevin Driscoll represented the landlord in-house.

“The increased leasing momentum we continue to experience within our well-located, premier portfolio is a testament to The Feil Organization’s ongoing commitment to maintaining our properties to the highest standard and being equipped to accommodate new and existing tenants,” Andrew Wiener, head of commercial leasing at Feil, said in a statement.

The woman-owned law firm represents a swath of businesses — from large public companies to smaller, private ones — and its practice areas include employment counseling, real estate transactions and intellectual property, according to its website.

The Fifth Avenue building also serves as the location for Pace University’s Midtown center and was built in 1927 with Art Deco designs by Sloan & Robertson.

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