ISAIA Renews Lease for 13K SF at Feil Organization’s Gramercy Park Building

ISAIA Renews Lease for 13K SF at Feil Organization’s Gramercy Park Building

Luxury menswear label ISAIA has secured a long-term future at 257 Park Avenue South, extending its occupancy in the Gramercy neighborhood. The Italian brand has signed a 10-year lease renewal for 13,000 square feet on the property’s 10th floor, according to landlord Feil Organization. The building, also known as the Gramercy Park Building, sits at the corner of East 21st Street.

The transaction reinforces the stability of the 20-story office tower, which is currently 97 percent leased. Feil Organization noted that the space serves as ISAIA’s corporate showroom. James Shay, president of ISAIA, emphasized that the location is vital for the brand’s client connections and collection presentations. While specific rental terms for the deal were not disclosed, Colliers data places the average asking rent for Gramercy office space at $89.09 per square foot as of the second quarter of 2026.

Feil Organization’s Andrew Wiener and Robert Fisher handled the lease for the landlord in-house. ISAIA was represented by a team from Jones Lang LaSalle Incorporated, including Alexander Chudnoff and Henry Korzec. JLL operates as a major commercial real estate and investment management firm, advising on transactions across various property types globally. The tower’s tenant roster includes other financial and technology firms, such as Argentic Investment Management and AngelList.

What to watch

• Future vacancy rates at 257 Park Avenue South as the building remains nearly fully occupied.
• Upcoming leasing activity in the Gramercy submarket relative to the current $89.09 asking rent.
• Jones Lang LaSalle’s quarterly earnings for insights into broader commercial real estate services trends.

Source: original release