Jeffrey Feil and Jay Anderson
Jeffrey Feil and Jay Anderson
CEO; COO at Feil Organization
Last year's rank: 50
The family-owned Feil Organization was founded in the 1950s, but the firm has been consistently closing new deals with every asset type in markets around the country.
The New York City-based firm is dominant in the Big Apple, but also operates industrial, multifamily, office, medical and shopping centers in Florida, Chicagoland, Indiana, Louisiana, Washington, D.C., and throughout the state of New York.
According to its website, Feil Organization manages more than 24 million square feet of commercial space, with more than 5,000 rental units, as well as thousands of acres of undeveloped land. The collection includes prized properties like three office buildings with about 480,000 square feet at 250-257 Park Avenue South in Manhattan.
This quarter, Shanholt Glassman Klein Kramer & Co. starts its 12-year lease for 16,648 square feet in Feil’s 488 Madison Avenue in Midtown Manhattan. Feil is also currently working on an apartment development at 2930 Rockaway Avenue in Nassau County. In February, the firm secured a $64.5 million loan from M&T Bank to finance the property 20 miles east of Manhattan. The firm has owned the site for more than 30 years, and it once included a smaller apartment building that was destroyed by Hurricane Sandy, and the lot has been vacant since.
At the start of 2020, Feil secured $115 million in financing from Morgan Stanley for a 124,800-square-foot property at 894 Seventh Avenue in Manhattan. The month before, Feil and Rigby Asset Management acquired a 95,000-square-foot office building at 530 West 25th Street in Chelsea for $72 million. Feil separately also secured leases with Northwell Health at 3500 Sunrise Highway in Long Island that month.
In November, back at the 23-story 488 Madison Avenue, law firms Omrani & Taub and Certain & Zilberg signed a 10-year lease for 8,268 square feet. Asking rents were $68 per square foot.
The firm completed the $20 million renovation of 4 Park Avenue, a 364-unit mixed-use building with 52,000 square feet of office space and 50,000 square feet of retail and parking.
In September, Feil announced that Sweetgreen, Sticky’s Finger Joint and Naya Express were all moving into the 357,000-square-foot 7 Penn Plaza, adjacent to Penn Station and Madison Square Garden. That same month, Feil acquired a 32,000-square-foot retail building in Chicago for $32 million.—G.C.
