A longtime subtenant just became a tenant at Sapir Organization’s 261 Madison Avenue.
USI Insurance Services, an insurance brokerage and consulting company, just signed a lease for 34,080 square feet for a space between East 38th and East 39th Streets it had occupied since 2012, according to the Commercial Observer.
USI was sub-leasing the entire fifth floor and a portion of the sixth floor of the 28-story, 383,934-square-foot building from the defunct magazine publisher Source Interlink. Now the firm is dealing directly with Sapir.
USI recently bought out Wells Fargo Insurance Services USA, the bank’s insurance brokerage and consulting arm. That new division will move into the space. Cushman & Wakefield’s David Itzkowitz and Jack Keesser handled the deal on behalf of the tenant.
Other tenants at the building include Coca Cola North America, Epix Entertainment and Signature Bank. [CO] – Christopher Cameron