ESRT Sells Connecticut Office Asset

January 16, 2026

Knighthead Funding provided a $51.8 million acquisition loan for this deal.

HB Nitkin has acquired Metro Center, a 282,589-square-foot office building in Stamford, Conn. Knighthead Funding provided a $51.8 million purchase loan, in a deal arranged by Newmark.

Empire State Realty Trust previously owned the asset, according to Yardi Matrix information. The company implemented more than $12 million in recent capital improvements, including a prebuilt program.

The new owner plans to conduct another capex plan to enhance tenant experience. Plans call for the modernization of the common areas.

Located within the city’s central business district at 1 Station Place, the building is close to Interstate 95. Downtown New Haven, Conn., is about 42 miles away, while JFK International Airport is 37 miles southwest.

The eight-story building is home to multiple tenants, including JLL, ESRT, Avis, H.I.G. Capital and Zimmer Biomet, Yardi Matrix data shows.

Skidmore, Owings & Merrill designed the property, which was completed in 1987. The mid-rise has floorplates ranging between 26,000 and 42,000 square feet, a conference center, four passenger elevators, a lounge with golf simulator, a fitness center, a coffee shop and a dining facility.

Newmark Vice Chairman Chris Kramer led the team that arranged the financing.

Bridgeport-New Haven office prices drastically drop

Last year, 40 office properties totaling 4.5 million square feet traded for $116 million in the Bridgeport-New Haven market, according to Yardi Matrix information. In 2024, 1.9 million square feet across 33 assets changed hands for $156.3 million This marked a considerable drop in the average price per square foot, from $128 to just $55.

In September, CBRE Investment Management sold Stamford Towers, a two-building, 332,000-square-foot office property in Stamford. A joint venture between Real Capital Solutions and Lamar Cos. acquired the asset built between 1989 and 1990.