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251 Park Avenue South

251 Park Avenue South
New York, NY 10010
(212) 563-6557
Website
Office, Leasing/Rental

251 Park Avenue South is a 16-story, 120,000-square foot office building on the border of the Flatiron District and the Union Square neighborhood, erected in 1909. The Class B office property, located between East 20th and 21st Streets and last renovated in 198, is more than three-quarters vacant, according to CoStar Group data. In late 2014, the Feil Organization, a family-owned, New York City-based real estate investment, development, and management firm, acquired the building at auction.

The building has flexible zoning, allowing Feil to convert it to residential condominiums or into a hotel, if it chooses. Feil bought a 75 percent stake in the building from another New York City-based developer, Extell Development Company, and the remaining 25 percent stake from Frank Ring. Extell and Ring sold the building to resolve a long-running dispute, in which Extell accused its co-owners of mismanagement. Concurrent with the court battle, Extell acquired a 25 percent in the building from investor Joseph Tabak, who had acquired it from Frank Rings brother Michael. Frank and Michael Ring inherited their two respective 25 percent stakes from their father, Leo. Extell acquired its original 50 percent stake from Robert Eisner. As of March 2015, Herman Miller subsidiary Maharam, a fabric design company, occupied 20,000 square feet on the upper floors of the property and Sovereign Bank was the ground floor tenant.

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  • Address 251 Park Avenue South
  • neighborhood Flatiron
  • borough Manhattan
  • owner Feil Organization
  • owner entity 251 PAS LLC, A DELAWA
  • sales/marketing Feil Organization, Robert Fisher
  • Year Built 1910
  • square feet 103,384
  • block and lot 1-00876-0001
  • BIN 1017946
  • Event Office Leasing
  • Address 251 Park Avenue South
  • Neighborhood Gramercy
  • Borough Manhattan
  • Square feet 7,663
notes
The real estate development firm signed a lease.
  • Event Office Leasing
  • Address 251 Park Avenue South
  • Neighborhood Gramercy
  • Borough Manhattan
  • Square feet 7,659
notes
The web-based company signed a lease.
  • Event Office Leasing
  • Address 251 Park Avenue South
  • Neighborhood Gramercy
  • Borough Manhattan
  • Square feet 7,656
notes
The Argentinean software firm signed a lease.
  • Event Office Leasing
  • Address 251 Park Avenue South
  • Neighborhood Flatiron
  • Borough Manhattan
  • Square feet 7,663
notes
The marketing firm signed a 10-year lease for the entire 8th floor.
  • Event Office Leasing
  • Address 251 Park Avenue South
  • Neighborhood Flatiron
  • Borough Manhattan
  • Square feet 7,659
notes
The media company signed a 10-year lease for the entire 7th floor.
  • Event Office Leasing
  • Address 251 Park Avenue South
  • Neighborhood Flatiron
  • Borough Manhattan
  • Square feet 7,659
notes
The publishing company signed a lease for the entire 12th floor.
  • Event Office Leasing
  • Address 251 Park Avenue South
  • Neighborhood Gramercy
  • Borough Manhattan
  • Square feet 7,659
  • Publication Date 07/01/2016
  • Event Date 05/15/2016
  • Party 1 Brokerage Feil Organization
  • Party 1 Broker Robert Fisher
  • Party 2 Pond5
  • Party 2 Brokerage Lee & Associates NYC
  • Party 2 Broker Dennis Someck, Justin Myers
notes
The online media company signed a lease.
  • Event Office Leasing
  • Address 251 Park Avenue South
  • Neighborhood Gramercy Park
  • Borough Manhattan
  • Square feet 7,000
  • Price per foot $ 55.00
  • Publication Date 11/01/2007
  • Event Date 09/22/2007
  • Party 1 Brokerage FM Ring Associates
  • Party 1 Broker Frank Ring
  • Party 2 BBC
  • Party 2 Brokerage Kaufman Organization
  • Party 2 Broker Daniel Lipton, Peter Pacific
notes
The broadcasting company signed a five-year lease for space. The space, which comes with its own TV studio, was once occupied by the cable channel FX.