ESRT Lands Tenant at the Empire State Building

A consultancy firm will occupy a full floor.

Exterior shot of Empire State Building, an office tower in Manhattan.
The 2.8 million-square-foot office building went through cosmetic renovations in 2019. Image courtesy of Yardi Research Data

Mott MacDonald NY Inc. has signed a 25,372-square-foot leasing agreement at the Empire State Building in Manhattan. The company will occupy a full floor at Empire State Realty Trust’s 102-story tower.

Colliers represented the tenant in the lease negotiations, while Newmark, as well as an in-house executive, worked on behalf of the property owner.

The engineering, development, and management consultancy firm will also continue to occupy its current 18,434-square-foot space at ESRT’s 1400 Broadway, a 36-story office building less than a mile from the Empire State Building.

ESRT acquired the 2.8 million-square-foot asset in October 2013 from Helmsley Enterprises as part of a $771.2 million portfolio transaction, according to Yardi Research Data. The building was completely renovated in 2011 and went through cosmetic renovations in 2019.


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Built in 1931, the skyscraper is LEED Platinum-certified and comprises more than 127,000 square feet of first-floor and mezzanine-level retail space, the same source shows. The building features floorplates ranging between 12,905 square feet and 100,512 square feet and 64 passenger elevators.

Amenities at the high-rise total more than 65,000 square feet and include an on-site conference center, a fitness center, the Empire Lounge, a basketball court, dining options and seating areas, as well as two golf simulators.

Colliers Vice Chair Sheena Gohil, Vice President Jack Senske and Senior Vice President Teresa DeLeo represented Mott MacDonald in the lease negotiations. Newmark Vice Chair Scott Klau, Executive Managing Directors Erik Harris and Brent Ozarowski, Managing Directors Neil Rubin and Zachary Weil, as well as Associate Director Cole Gendels, together with ESRT Vice President of Leasing Shanae Ursini, worked on behalf of the landlord.

Manhattan’s office vacancy rate drops

Manhattan’s office vacancy rate as of May clocked in at 15.7 percent, 50 basis points lower year-over-year, according to the latest Yardi Matrix office report. This figure was also well below the 19.4 percent national average. The borough’s listing rate during the same month was $68.1.

Earlier this spring, Deloitte signed a deal to move its North American headquarters to 70 Hudson Yards, a 1.1 million-square-foot Manhattan tower. The company will occupy about 800,000 square feet at the project, which is set to come online in 2028.

Back in April, ESRT also inked a 77,382-square-foot lease renewal with Gerson Lehrman Group Inc. at One Grand Central Place, its 1.3 million-square-foot office tower in Manhattan’s Murray Hill submarket.