Plug & Play Sublease from Oracle – 257 Park Avenue South
The Feil Organization, an established investment, development and management firm that’s been based in New York City for over 60 years, owns a plethora of great assets including 570 Lexington Avenue, 140 West 57th Street, 488 Madison Avenue, and 551 Fifth Avenue. The Feils traditionally hold onto their assets for long periods of time. They own a balanced mixture of buildings in midtown as well as midtown south and have done a great job tailoring their buildouts to the appropriate submarkets. The newer spaces in midtown south have been built out with creative installations that include open layouts with concrete floors and exposed ceilings. A great example of this is a brand new sublease from Oracle on the entire 13th floor at 257 Park Avenue South.
The floor is currently built with 6 breakout rooms and large offices, 2 phone rooms, a pantry with seating, and open area with 65 existing workstations (please click here to see the floor plan). Available for occupancy immediately, the sublease term extends through January 15 of 2022. The installation is fairly new as it was built out 2 years ago. Oracle decided to consolidate this group to another office, now allowing a lucky TAMI tenant to capitalize in the high-end creative buildout. The furniture will be included for an incoming subtenant, limiting the amount of out-of-pocket costs.