By james art Call the doormanluxury jewelry brand, expanded to 488 Madison Ave to occupy a total of 17,570 square feet in the 25-story Midtown office building, learned Trade Observer.
The company signed a 10-year lease to move into a ninth-floor space in the building, growing by 6,909 square feet in the process, according to the landlord Feil Organization. The asking rent was $65 per square foot.
Ring Concierge moved into the building in 2021 and previously occupied 10,661 square feet on the eighth floor.
“It’s exciting to strengthen our partnership with Ring Concierge and accommodate their growth.” Andrew Wienerhead of commercial leasing at Feil, said in a statement announcing the expansion. “This expansion and continued collaboration is a testament to the value that 488 Madison provides with its unbeatable location, extensive interior renovations and flexible office spaces designed to foster innovation.”
The Feil Organization was internally represented by Wiener and Tim Parlante. CBREis Mary Ann Thaye, Alexander D’Amario, Preston Cannon and Joel Stephen brokered the deal for Ring Concierge.
“The Feil Organization has proven itself as a reliable and forward-thinking owner and operator in the real estate market, as evidenced by providing a strategic and unique solution for Ring Concierge to expand into a location at 488 Madison Avenue,” Tighe said in a statement.
Ring Concierge was founded by a private jeweler Nicole Wegman in 2013, according to company website. When Wegman started the business, Ring only sold engagement rings, but it has since expanded to other baubles, including bracelets, necklaces and earrings.
“We are excited to continue our partnership with the Feil Organization,” Katie Bilodeaupresident of Ring Concierge, said in a statement. “Their combination of personalized service and extensive resources has played a critical role in our growth. We look forward to many more successful years at 488 Madison.”
Amanda Schiavo can be found at [email protected].