ISAIA, a luxury menswear company from Naples, Italy, has signed a lease renewal for 13,000 square feet on the tenth floor of The Feil Organization's 257 Park Avenue South building, the property owner announced. The brand has thus reaffirmed its commitment to its showroom space in the property, also known as the Gramercy Park Building. The lease term is for ten years.
The Feil Organization did not disclose the asking rent for the space. According to data from Colliers, the average asking rent for office space in the Gramercy area was $89.09 per square foot in the second quarter of 2026.
Andrew Wiener of Feil, who represented the landlord internally alongside Robert Fisher, emphasised that the continuation of the relationship with ISAIA underscores both the quality of the premises and The Feil Organization's ability to create unique environments that meet the needs of various tenants. He added that ISAIA's long-term renewed commitment is further testament to the strength of the property, which is currently 97 percent leased.
ISAIA was represented by Alexander Chudnoff and Henry Korzec of JLL. Mr Chudnoff and Mr Korzec did not immediately respond to a request for comment from Commercial Observer.
James Shay, President of ISAIA, stated that the company's showroom at 257 Park Avenue South represents an extension of the ISAIA brand and plays a crucial role in how collections are presented and clients are contacted. He highlighted that the unique character of the building, its prime location, and the support from The Feil Organization made the lease extension the right decision.
The building at 257 Park Avenue South, located on the corner of East 21st Street, is a 20-storey office property. Tenants include financial services company Argentic Investment Management and fintech company AngelList.
