{"id":1004664817,"date":"2023-05-26T04:32:07","date_gmt":"2023-05-26T12:32:07","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004664817"},"modified":"2023-05-26T04:36:40","modified_gmt":"2023-05-26T12:36:40","slug":"empire-state-realty-inks-long-term-lease-in-midtown","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/empire-state-realty-inks-long-term-lease-in-midtown\/","title":{"rendered":"Empire State Realty Inks Long-Term Lease in Midtown"},"content":{"rendered":"
\"1333<\/a>

1333 Broadway. Image courtesy of Empire State Realty Trust<\/em><\/p><\/div>\n

Empire State Realty Trust<\/strong> has secured a 30-year, full-floor lease at 1333 Broadway, a 362,531-square-foot office building in New York City. Nonprofit organization Rising Ground <\/strong>will occupy 29,566 square feet at the property.<\/p>\n

OPEN Impact Real Estate<\/strong> negotiated on behalf of the new tenant, while the landlord represented itself, with the assistance of Cushman & Wakefield<\/strong>.<\/p>\n

ESRT purchased the asset from Helmsley Enterprises in 2013, as part of a $164.3 million portfolio deal, CommercialEdge data shows. Built in 1915 and designed by architecture firm Clinton & Russell, 1333 Broadway is a 12-story multi-tenant office property that includes 11.6-foot clear heights, 29,500-square-foot floor plates, five passenger elevators and 62,000 square feet of ground-floor retail space.<\/p>\n

\n

READ ALSO<\/strong>: How CRE Boosts the Economy: NAIOP<\/a><\/p>\n

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Common-area amenities include an upgraded lobby, an upcoming 8,000-square-foot rooftop lounge, a renovated event space with video conferencing systems and a tenant lounge that can host more than 300 people. Additionally, the building is within walking distance from Penn Station and Grand Central Terminal.<\/p>\n

OPEN Impact Real Estate’s Lindsay Ornstein, Stephen Powers, Arthur Skelskie, Alexander Smith and Kendall Elliott assisted Rising Ground in the lease negotiations. ESRT was represented in-house by Shanae Ursini, along with Cushman & Wakefield\u2019s Robert Lowe, Ron LoRusso, Heather Thomas, Anthony LoPresti and Dan Organ.<\/p>\n

A closer look at Manhattan’s recent leasing activity<\/h2>\n

Other tenants at 1333 Broadway include Wiesner Products, ActiveHealth Management, Signature Bank, Sanne Group and Canon U.S.A.<\/p>\n

The borough is still struggling with rising vacancy rates. As of April, Manhattan’s office vacancy<\/a>\u00a0reached 16.5 percent, marking a 210-basis-point increase year-over-year, CommercialEdge data shows.<\/p>\n

Earlier this week, Flagster Bank N.A., the buyer of the recently collapsed Signature Bank’s liquid assets, debt and service centers, has assumed one of the latter’s office spaces in Midtown Manhattan. ESRT is the owner of the 313,109-square-foot space<\/a> at 1400 Broadway, a Class A, 919,405-square-foot property.<\/p>\n","protected":false},"excerpt":{"rendered":"

A nonprofit organization signed a full-floor commitment at 1333 Broadway.<\/p>\n","protected":false},"author":2991,"featured_media":1004664818,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,1600,21742,10,21747],"tags":[32799,34345,51588],"class_list":["post-1004664817","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-new-york","category-latest","category-northeast","category-office","tag-cushman-wakefield","tag-empire-state-realty-trust","tag-open-impact-real-estate"],"acf":[],"yoast_head":"\nEmpire State Realty Inks Long-Term Lease in Midtown - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Empire State Realty Trust secured a long-term, full-floor lease at 1333 Broadway, a 362,531-square-foot office building in Midtown Manhattan.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/empire-state-realty-inks-long-term-lease-in-midtown\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Empire State Realty Inks Long-Term Lease in Midtown\" \/>\n<meta property=\"og:description\" content=\"Empire State Realty Trust secured a long-term, full-floor lease at 1333 Broadway, a 362,531-square-foot office building in Midtown Manhattan.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/empire-state-realty-inks-long-term-lease-in-midtown\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-26T12:32:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-26T12:36:40+00:00\" \/>\n<meta name=\"author\" content=\"Simona Tudose\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/1333_Broadway_1-e1685002891500.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/empire-state-realty-inks-long-term-lease-in-midtown\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/empire-state-realty-inks-long-term-lease-in-midtown\/\",\"name\":\"Empire State Realty Inks Long-Term Lease in Midtown - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/empire-state-realty-inks-long-term-lease-in-midtown\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/empire-state-realty-inks-long-term-lease-in-midtown\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/1333_Broadway_1-e1685002891500.jpg\",\"datePublished\":\"2023-05-26T12:32:07+00:00\",\"dateModified\":\"2023-05-26T12:36:40+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/4659e2337f06b61cefc6b0b897d183a4\"},\"description\":\"Empire State Realty Trust secured a long-term, full-floor lease at 1333 Broadway, a 362,531-square-foot office building in Midtown Manhattan.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/empire-state-realty-inks-long-term-lease-in-midtown\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/empire-state-realty-inks-long-term-lease-in-midtown\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/empire-state-realty-inks-long-term-lease-in-midtown\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/1333_Broadway_1-e1685002891500.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/1333_Broadway_1-e1685002891500.jpg\",\"width\":5762,\"height\":4326,\"caption\":\"1333 Broadway. 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