National real estate investment firm The Feil Organization has announced that private security and fire safety contractor Mulligan Security has expanded its lease at 7 Penn Plaza in Chelsea, Manhattan. The company will extend its lease for 12 years and expand its footprint by 15,788 square feet, bringing its total occupancy to 24,788 square feet.
This expansion will take up the entire second floor of 7 Penn Plaza and include the construction of a new private lobby entrance on 30th Street. It is a notable increase from Mulligan Security’s current 9,000-square-foot space on the 17th floor, where the company has been a tenant since 2022.
Mulligan Security’s lease negotiations were handled by David Hollander and David Katz of CBRE, while The Feil Organization was represented in-house by Andrew Wiener, David Turino, and Henry Korzec. The asking rent for the expanded space on the second floor is $65 per square foot.
“As our company undergoes rapid growth, the Feil Organization worked with us to create a new custom-built office space with separate street-level private access tailored to the unique needs of our growing business and brand,” said Anthony Escamilla, chief financial officer at Mulligan Security. “They took the time to understand our tenant needs and helped us craft a creative solution that will enhance our success. We look forward to another decade-plus of growth and expansion here at 7 Penn Plaza.”
Situated at 370 Seventh Avenue, 7 Penn Plaza is an 18-story tower encompassing 357,000 square feet. Its proximity to Pennsylvania Station offers easy access to multiple transportation options, including Long Island Rail Road, New Jersey Transit, Amtrak, and various subway lines.
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This is considered Chelsea?
I agree with you.I wouldn’t have considered this area to be Chelsea.
Expanding the lease means that there must be more tenants, another very interesting location: Thanks.