Claims Conference Leases 33,803 Square Feet at ESRT’s 1359 Broadway

Rhea-AI Summary

Empire State Realty Trust (NYSE: ESRT) announced a long-term commercial lease with the Claims Conference for 33,803 square feet at 1359 Broadway, a property they have occupied since 2007. Claims Conference will relocate within the same building, which is fully modernized and offers energy-efficient features. The building's prime location in Midtown Manhattan provides easy access to transportation and amenities. ESRT has seen significant tenant expansions since its 2013 IPO, totaling 2.5 million square feet. This lease reflects ESRT's commitment to sustainability and tenant growth.

Positive

• Claims Conference signed a long-term lease for 33,803 square feet, indicating tenant stability.
• The building is fully modernized with energy-efficient features, aligning with ESRT's sustainability goals.
• ESRT has facilitated 258 expansions totaling 2.5 million square feet since its IPO in 2013, showcasing strong tenant demand.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- Empire State Realty Trust, Inc. (NYSE: ESRT) announced today that its tenant, Claims Conference – a nonprofit organization that secures material compensation for Holocaust survivors around the world – signed a long term commercial lease at 1359 Broadway for 33,803 square feet. The company, a tenant at 1359 Broadway since 2007, will relocate to new office space within ESRT’s property in Midtown Manhattan.

Claims Conference Leases 33,803 Square Feet at ESRT’s 1359 Broadway (Photo: Business Wire)

Located in the heart of the Broadway Office Corridor, 1359 Broadway offers convenient access to major transportation and subway lines, dining, and retail. The building is fully modernized, and Claims Conference’s new space will be built with ESRT’s latest specs for IEQ and sustainability design.

"Tenants grow their businesses at ESRT, as evidenced by the 258 expansions of existing tenants by 2.5 million square feet since our 2013 IPO,” said Thomas P. Durels, executive vice president, real estate at ESRT. “We are glad to see Claims Conference relocate their office space within 1359 Broadway and continue to benefit from our leadership in energy efficiency, sustainability, and indoor environmental quality.”

Jason Schwartzenberg of Savills represented Claims Conference. Jordan Berger of ESRT and Paul J. Amrich, Neil V. King III, Emily Chabrier, Meghan Allen, and Shay Kenney of CBRE represented the property owner. Lester Bleckner & Shaw LLP was legal representation for ESRT.

More information about 1359 Broadway, and current available office space, can be found online.

About Empire State Realty Trust

Empire State Realty Trust, Inc. (NYSE: ESRT) is a REIT that owns and manages office, retail and multifamily assets in Manhattan and the greater New York metropolitan area. ESRT owns the iconic Empire State Building – the World’s Most Famous Building – and the newly reimagined Empire State Building Observatory that was named #1 attraction in the US, and #3 in the world, in Tripadvisor’s 2022 Travelers’ Choice Awards: Best of the Best. The company is a leader in healthy buildings, energy efficiency, and indoor environmental quality and has the lowest greenhouse gas emissions per square foot of any publicly traded REIT portfolio in New York City. As of Dec. 31, 2022, ESRT's portfolio is comprised of approximately 8.9 million rentable square feet of office space, 741,000 rentable square feet of retail space and 721 residential units across three multifamily properties. More information about Empire State Realty Trust can be found at esrtreit.com and by following ESRT on Facebook, Instagram, Twitter and LinkedIn.

Source: Empire State Realty Trust
Category: Leasing

View source version on businesswire.com: https://www.businesswire.com/news/home/20230328005913/en/

MEDIA CONTACT:

Empire State Realty Trust

Jamie Steinberg

jsteinberg@esrtreit.com

Source: Empire State Realty Trust

FAQ

What is the significance of the Claims Conference lease at ESRT?

The lease indicates tenant stability and reflects ESRT's capacity to attract long-term tenants, contributing to revenue security.

How much space is Claims Conference leasing from Empire State Realty Trust?

Claims Conference is leasing 33,803 square feet at 1359 Broadway.

What are the key features of the building at 1359 Broadway?

The building is fully modernized and includes energy-efficient features, providing sustainability and comfort for tenants.

How has ESRT performed in terms of tenant expansions?

Since its IPO in 2013, ESRT has facilitated 258 expansions totaling 2.5 million square feet, demonstrating solid tenant growth.

Where is 1359 Broadway located?

1359 Broadway is located in Midtown Manhattan, offering convenient access to transportation, dining, and retail.