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NEW YORK CITY-The Feil Organization has acquired 261 Fifth Ave. from L&L Acquisitions. The 412,000-sf site, which was built in the late 1920s, is considered a landmark and is home to a grouping of home textiles showrooms.

Feil, which is headquartered here, is taking a long-term ownership position and intends to keep it as a textiles building. The sale price was not disclosed, Randall Briskin, Feil's director of leasing, tells GlobeSt.com. Cushman & Wakefield handled the transaction. He says the firm is contemplating creating a buyer's lounge on the mezzanine level as a building amenity, but has not yet set any dollar amount toward the effort.

"261 Fifth Avenue is a landmark of stability," adds Jeffrey J. Feil,CEO. "We plan to maintain its tenant roster of quality textile companies and improve on the building services wherever possible."