{"id":1004703255,"date":"2024-02-22T05:27:27","date_gmt":"2024-02-22T13:27:27","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004703255"},"modified":"2024-02-22T23:40:58","modified_gmt":"2024-02-23T07:40:58","slug":"esrt-adds-57-ksf-tenant-at-manhattan-tower","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/esrt-adds-57-ksf-tenant-at-manhattan-tower\/","title":{"rendered":"ESRT Adds 57 KSF Tenant at Manhattan Tower"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a2c92d0b3f0a&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"575\" height=\"431\" data-attachment-id=\"1004703261\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/esrt-adds-57-ksf-tenant-at-manhattan-tower\/one-grand-central-place-1\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/One-Grand-Central-Place-1.jpg\" data-orig-size=\"575,431\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"One Grand Central Place 1\" data-image-description=\"&lt;p&gt;The office building at 60 E. 42nd St. in Manhattan.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;One Grand Central Places went through an $85 million capex program in 2008. Image courtesy of Empire State Realty Trust&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/One-Grand-Central-Place-1.jpg?w=575\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/One-Grand-Central-Place-1.jpg\" alt=\"The office building at 60 E. 42nd St. in Manhattan.\" class=\"wp-image-1004703261\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/One-Grand-Central-Place-1.jpg 575w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/One-Grand-Central-Place-1.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 575px) 100vw, 575px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">One Grand Central Places went through an $85 million capex program in 2008.<em> Image courtesy of Empire State Realty Trust<\/em><\/figcaption><\/figure><\/div>\n\n\n<p><strong>Empire State Realty Trust<\/strong> has signed a 57,203-square-foot leasing agreement at One Grand Central Place, a 1.3 million-square-foot office building in Manhattan. Expanding its New York City presence, skincare and beauty brand <strong>Sol de Janeiro USA <\/strong>will occupy the space for 11 years. <strong>Newmark <\/strong>represented both parties.<\/p>\n\n\n\n<p>Sol de Janeiro became a subsidiary of L\u2019Occitane in 2021, when the French beauty brand acquired an 83 percent indirect interest in the company for $450 million. L&#8217;Occitane recently signed a 9,497-square-foot lease expansion on their existing 20,962-square-foot space at 111 W. 33rd St., ESRT\u2019s 732,314-square-foot building also in Manhattan.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/where-to-find-the-bright-side-of-office\/\">Where to Find the Bright Side of Office<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p>Newmark\u2019s team representing the ownership in the Sol de Janeiro lease comprised Vice Chairs Scott Klau and William Cohen, along with Executive Managing Director Erik Harris and Managing Director Neil Rubin; ESRT Vice President Jordan Berger was also involved in the deal. Newmark Executive Managing Director Brent Ozarowski negotiated on behalf of the tenant.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-a-closer-look-at-one-grand-central-place\">A closer look at One Grand Central Place<\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a2c92d0b5ca5&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignleft size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"577\" height=\"433\" data-attachment-id=\"1004703264\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/esrt-adds-57-ksf-tenant-at-manhattan-tower\/one-grand-central-place-4\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/One-Grand-Central-Place.jpg\" data-orig-size=\"577,433\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"One Grand Central Place\" data-image-description=\"&lt;p&gt;The office building at 60 E. 42nd St. in Manhattan.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Amenities at the 1.3 million-square-foot office tower include a lobby, lounge area and a conference center. Image courtesy of Empire State Realty Trust&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/One-Grand-Central-Place.jpg?w=577\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/One-Grand-Central-Place.jpg\" alt=\"The office building at 60 E. 42nd St. in Manhattan.\" class=\"wp-image-1004703264\" style=\"width:350px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/One-Grand-Central-Place.jpg 577w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/One-Grand-Central-Place.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 577px) 100vw, 577px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">Amenities at the 1.3 million-square-foot office tower include a lobby, lounge area and conference center.<em> Image courtesy of Empire State Realty Trust<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>The 55-story tower came online in 1930 and went through an $85 million capex program completed in 2008, which included upgraded windows, elevators and restrooms. The Class A high-rise features floorplates ranging between 9,400 and 48,900 square feet, 27 passenger elevators and some 26,000 square feet of retail space.<\/p>\n\n\n\n<p>Amenities comprise a visitor center, multimedia conference center, lounge area and law library. Some of the building&#8217;s tenants include GLG, CLA and Winged Keel Group, as well as iCapital, which signed <a href=\"https:\/\/www.commercialsearch.com\/news\/icapital-to-occupy-141-ksf-at-manhattan-tower\/\">a 59,200-square-foot lease expansion<\/a> in 2022, bringing its total footprint to more than 141,200 square feet.<\/p>\n\n\n\n<p>The transit-oriented building is at 60 E. 42nd St., close to the Grand Central Terminal station and less than a mile from the Empire State Building. The high-rise is also within a mile from 1180 Ave. of the Americas, where a nonprofit organization recently leased <a href=\"https:\/\/www.commercialsearch.com\/news\/nyc-nonprofit-secures-new-midtown-hq-lease\/\">45,689 square feet<\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Recent office leases in Manhattan<\/h2>\n\n\n\n<p>Earlier this month, ESRT signed <a href=\"https:\/\/www.commercialsearch.com\/news\/empire-state-realty-secures-nyc-lease-expansion\/\">a 67,865-square-foot lease expansion<\/a> at 1400 Broadway. Burlington Stores Inc. will now occupy 170,763 square feet across five full floors of the 937,892-square-foot tower.<\/p>\n\n\n\n<p>In January, Evercore <a href=\"https:\/\/www.commercialsearch.com\/news\/fisher-brothers-signs-95-ksf-expansion-in-manhattan\/\">expanded its footprint<\/a> at Fisher Brothers\u2019 Park Avenue Plaza. Committing to another 95,000 square feet, the company now leases more than 500,000 square feet.<\/p>\n\n\n\n<p>According to a <a href=\"https:\/\/www.commercialedge.com\/blog\/national-office-report\/\" target=\"_blank\" rel=\"noreferrer noopener\">recent CommercialEdge office report<\/a>, Manhattan\u2019s vacancy rate as of January clocked in at 16.5 percent, 150 basis point lower than the national average. The metro\u2019s listing rate was $68.3, well above the $37.4 national figure.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A skincare and beauty brand will occupy the space for 11 years.<\/p>\n","protected":false},"author":3355,"featured_media":1004703261,"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":[34345,50999],"class_list":["post-1004703255","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-new-york","category-latest","category-northeast","category-office","tag-empire-state-realty-trust","tag-newmark"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>ESRT Adds 57 KSF Tenant at Manhattan Tower - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Empire State Realty Trust has signed a 57,203-square-foot leasing agreement at One Grand Central Place, a Manhattan office tower.\" \/>\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\/esrt-adds-57-ksf-tenant-at-manhattan-tower\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ESRT Adds 57 KSF Tenant at Manhattan Tower\" \/>\n<meta property=\"og:description\" content=\"Empire State Realty Trust has signed a 57,203-square-foot leasing agreement at One Grand Central Place, a Manhattan office tower.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/esrt-adds-57-ksf-tenant-at-manhattan-tower\/\" \/>\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=\"2024-02-22T13:27:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-23T07:40:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/One-Grand-Central-Place-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"575\" \/>\n\t<meta property=\"og:image:height\" content=\"431\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Vicentiu Fusea\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\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\/esrt-adds-57-ksf-tenant-at-manhattan-tower\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/esrt-adds-57-ksf-tenant-at-manhattan-tower\/\",\"name\":\"ESRT Adds 57 KSF Tenant at Manhattan Tower - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/esrt-adds-57-ksf-tenant-at-manhattan-tower\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/esrt-adds-57-ksf-tenant-at-manhattan-tower\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/One-Grand-Central-Place-1.jpg\",\"datePublished\":\"2024-02-22T13:27:27+00:00\",\"dateModified\":\"2024-02-23T07:40:58+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6f90c90d1e85956f06679ddabc844412\"},\"description\":\"Empire State Realty Trust has signed a 57,203-square-foot leasing agreement at One Grand Central Place, a Manhattan office tower.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/esrt-adds-57-ksf-tenant-at-manhattan-tower\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/esrt-adds-57-ksf-tenant-at-manhattan-tower\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/esrt-adds-57-ksf-tenant-at-manhattan-tower\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/One-Grand-Central-Place-1.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/One-Grand-Central-Place-1.jpg\",\"width\":575,\"height\":431,\"caption\":\"One Grand Central Places went through an $85 million capex program in 2008. 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