{"id":1004734407,"date":"2024-10-25T04:01:42","date_gmt":"2024-10-25T12:01:42","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004734407"},"modified":"2024-10-25T04:29:33","modified_gmt":"2024-10-25T12:29:33","slug":"harry-potter-publisher-signs-manhattan-office-lease","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/harry-potter-publisher-signs-manhattan-office-lease\/","title":{"rendered":"Harry Potter Publisher Signs Manhattan Office Lease"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Bloomsbury-Publishing.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"363\" height=\"480\" data-attachment-id=\"1004734408\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/harry-potter-publisher-signs-manhattan-office-lease\/bloomsbury-publishing\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Bloomsbury-Publishing.jpg\" data-orig-size=\"363,480\" 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=\"Bloomsbury-Publishing\" data-image-description=\"&lt;p&gt;Property at 1359 Broadway, Manhattan, N.Y.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The 100-year-old building rises 22 stories. 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\/10\/Bloomsbury-Publishing.jpg?w=363\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Bloomsbury-Publishing.jpg\" alt=\"Exterior shot of 1359 Broadway in Manhattan, N.Y.\" class=\"wp-image-1004734408\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Bloomsbury-Publishing.jpg 363w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Bloomsbury-Publishing.jpg?resize=227,300 227w\" sizes=\"auto, (max-width: 363px) 100vw, 363px\" \/><\/a><figcaption class=\"wp-element-caption\">The 100-year-old building rises 22 stories. <em>Image courtesy of Empire State Realty Trust<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Empire State Realty Trust Inc. has landed a new tenant at 1359 Broadway, a 481,167-square-foot office asset in Manhattan, N.Y. Bloomsbury Publishing Inc. signed a lease for 24,209 square feet with assistance from Cushman &amp; Wakefield. An in-house representative alongside CBRE negotiated on behalf of the landlord.<\/p>\n\n\n\n<p>Rising 22 stories, the building\u2014designed by George &amp; Edward Blum\u2014debuted a century ago. Floorplates range between 8,690 and 24,495 square feet, while the ceiling height clocks in at 11 feet and 2 inches slab to slab.<\/p>\n\n\n\n<p>The property\u2019s upgrade program included lobby ceiling restorations, as well as an overhaul of the building\u2019s systems including electrical, plumbing, HVAC and security. Being fully powered by renewable wind energy, 1359 Broadway attained WELL, Fitwel and Energy Star Certifications.<\/p>\n\n\n\n<p>Other building tenants include New York State Energy Research and Development Authority, Crown Castle and Inmar Intelligence, among others. The retail tenant roster comprises Starbucks, Wolfgang\u2019s Steakhouse and Panera.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/sizing-up-the-prime-office-building-landscape\/\">Sizing Up the Prime Office Building Landscape<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>The property is within walking distance of Bryant Park and the Empire State Building, as well as Penn Station. In its vicinity, numerous quick-service restaurants, retail facilities and transit stops operate.<\/p>\n\n\n\n<p>Cushman &amp; Wakefield Executive Managing Director Stephen Bellwood alongside Associate Rachel Rosenfeld represented Bloomsbury in the negotiations. Empire State Realty Trust Vice President Jordan Berger together with a CBRE team including Vice Chairmen Paul Amrich and Neil V. King III, as well as Executive Vice President Emily Chabrier and First Vice President Meghan Allen, represented the landlord. &nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-publishers-on-broadway\">Publishers on Broadway<\/h2>\n\n\n\n<p>The independent publishing house\u2014whose works include <em>Harry Potter<\/em> and <em>Crescent City<\/em>\u2014had previously occupied the entire fifth floor at 1385 Broadway, just one block away from its new office space. Culbro owns the 533,500-square-foot asset, according to CommercialEdge data.<\/p>\n\n\n\n<p>Bloomsbury U.S. President Sabrina McCarthy, who joined the firm this February from Ingram Publisher Services, commented in prepared remarks that her previous employer leased office space at 1400 Broadway, also one of ESRT\u2019s properties.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-manhattan-s-office-leasing-activity-bucks-national-trends\">Manhattan&#8217;s office leasing activity bucks national trends<\/h2>\n\n\n\n<p>Compared to June, Manhattan\u2019s office vacancy rate dropped by 20 basis points during the third quarter, reaching 23.5 percent in September, according to a report by Cushman &amp; Wakefield. Several of the factors leading to the decline in availability were the removal of five office buildings slated for <a href=\"https:\/\/www.commercialsearch.com\/news\/expanding-office-to-housing-conversion-potential\/\">residential conversion<\/a> and the lack of new office developments for two consecutive quarters.<\/p>\n\n\n\n<p>Combined, new office leases and renewals in Manhattan totaled 22.7 million square feet year-to-date through September\u2014a 33.1 percent increase year-over-year compared to the 17.1 million square feet registered last year\u2014Cushman &amp; Wakefield revealed.<\/p>\n\n\n\n<p>During the third quarter, new office leases totaled 5.3 million square feet, the same source shows. Although down 15.9 percent quarter-over-quarter, the figure ranked as the second-highest three-month period in two years.<\/p>\n\n\n\n<p>Another new Manhattan lease closed earlier this month. Fintech company Maybern agreed <a href=\"https:\/\/www.commercialsearch.com\/news\/gfp-real-estate-secures-new-lease-in-manhattan\/\">to occupy 11,000 square feet<\/a> at GFP Real Estate\u2019s 10 Astor Place, a 156,000-square-foot office property.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bloomsbury is taking space at an Empire State Realty property.<\/p>\n","protected":false},"author":3471,"featured_media":1004734409,"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":[32789,32799,34345],"class_list":["post-1004734407","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-new-york","category-latest","category-northeast","category-office","tag-cbre","tag-cushman-wakefield","tag-empire-state-realty-trust"],"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>Harry Potter Publisher Signs Manhattan Office Lease - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Bloomsbury signed an office lease at Empire State Realty Trust&#039;s 1359 Broadway in Manhattan. 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