261 Fifth finds a buyer

NEW YORK -- After less than two years of ownership, L&L Acquisitions has decided to sell the 261 Fifth Ave. showroom building for $180 million to The Feil Organization, a half-century-old real estate company, also based here.

The deal is set to close in August or sooner, David Levinson, partner, L&L Acquisitions, told HTT. The Feil Organization has already signed “a firm contract,” he added, and submitted a non-refundable deposit.Jeffrey Feil, CEO, The Feil Organization, could not be reached for comment. But Levinson offered, “It is our understanding that the new owners have every intention of keeping this a business of showrooms of home textiles companies. This is not one of those sales where you’ll see a residential conversion.”

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HTT Current issue for September 2017

See the September 2017 issue of Home & Textiles Today. In this issue, we look at the Attack of the Killer Third Tier: Monster off-pricers are climbing to the top of the food chain, plus New Products: 40 pages of new products debuting at the New York Home Fashions Market; Home Stores: TJX unveils first U.S. HomeSense store; Clicks to Bricks: Boll & Branch moves from digital to physical retailing; and much more... See details!