Leases  ·  Office

Infrastructure Firm Eaglestone Landing at 551 Fifth Avenue

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Infrastructure contracting firm Eaglestone is flapping its wings in a migration from the Financial District to Midtown, Commercial Observer has learned.

The tenant signed a 10-year, 20,955-square-foot lease with The Feil Organization to relocate its main offices at 55 Broad Street and consolidate its subsidiaries under one roof at 551 Fifth Avenue, according to the landlord. Asking rent was $58 per square foot.

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“In response to a strategic need to relocate, our team took an all-hands-on-deck approach to make sure Eaglestone was able to move into new space quickly and efficiently,” Feil’s Andrew Wiener, who brokered the deal in-house with Randall Briskin, said in a statement. “We maintained regular meetings with the firm, ensuring clear communication with our team to skillfully tailor their new space at 551 Fifth Avenue in order to meet their needs.”

Eaglestone will use the space to run both its main operations and those of its subsidiary New York Engineers, also known as NY E&E.

It was not immediately clear who represented the tenant in the transaction.

The building on the northeast corner of Fifth Avenue and East 45th Street, also known as the Fred F. French Building, was designed by Sloan & Robertson and completed in 1927 before being restored in the 1990s. 

Other tenants include law firm Schoeman Updike Kaufman & Gerber, which extended its 11,095-square-foot lease in September, as well as Pace University’s Midtown center.

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