1359 Broadway. Picture courtesy of Empire State Realty Belief
Empire State Realty Belief has signed a 33,803-square-foot long-term lease with nonprofit group Claims Convention at 1359 Broadway in Midtown Manhattan. The agency has been a tenant on the property since 2007 and, following the brand new settlement, will relocate to a brand new area inside the constructing.
Savills Govt Managing Director Jason Schwartzenberg represented Claims Convention within the lease negations. Jordan Berger, vp of leasing at Empire State Realty, together with CBRE Vice Chairmen Paul Amrich and Neil King III, Govt Vice President Emily Chabrier, Vice President Meghan Allen and Affiliate Shay Kenney brokered the settlement on behalf of the owner. Lester Bleckner & Shaw LLP supplied authorized illustration for Empire State Realty.
Accomplished in 1924, the 22-story workplace constructing underwent an entire renovation in 2005, based on CommercialEdge information. The property is supplied with numerous options to make sure power effectivity and indoor environmental high quality.
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The constructing includes roughly 19,438 sq. toes of grade-level retail area, whereas its floorplates common at 24,292 sq. toes. The property’s tenant roster contains Progyny, which signed a 70,573 square-foot lease final yr, Siense, BLJ Worldwide, AI Media Group, BMR Vitality and SLCE Architects.
Manhattan’s rising workplace emptiness
The newest CommercialEdge report reveals that Manhattan maintained its place because the main U.S. market by way of asking hire, reaching $76.0 per sq. foot on the finish of February, marking a 0.4 % enhance in comparison with the earlier month. At that time, the borough’s emptiness fee hit 16 %, marking a 2.9 % enlargement year-over-year.
Regardless of this, landlords inked a number of leases just lately. Earlier this month, Temasek Worldwide signed a 26,062-square-foot lease renewal and enlargement at RFR Realty’s Seagram Constructing in Midtown. ATCO Properties & Administration additionally secured three lease extensions totaling 17,477 sq. toes throughout three workplace buildings.
Silverstein Properties signed a 44,000-square-foot dedication with StubHub at 3 World Commerce Middle in Decrease Manhattan. The tech firm will transfer its headquarters from Midtown.
