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Empire State Realty Trust Signs Capco for Entire 68th Floor at the Empire State Building
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Empire State Realty Trust (ESRT) has signed a new long-term lease with Capco, a global financial technology and management consultancy, for a 26,620 square foot space at the Empire State Building. The building offers top-tier amenities and has been fully modernized with over 65,000 square feet of amenities. The lease is a result of ESRT's leadership in sustainability, energy efficiency, and indoor environmental quality.
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NEW YORK--(BUSINESS WIRE)--
Empire State Realty Trust, Inc. (NYSE: ESRT) announced today that it signed a new long-term lease with Capco – a global financial technology and management consultancy – for a 26,620 square foot, full-floor space at the Empire State Building (ESB) on the 68th floor.
Empire State Realty Trust Signs Capco for Entire 68th Floor at the Empire State Building (Photo: Business Wire)
“We are pleased to partner with ESRT for our new office space in this iconic building,” said Mike Ethelston, Managing Partner of Capco US & Brazil. “The Empire State Building exceeded our expectations with its blend of heritage, contemporary design and energy efficiency, and it will offer our people top-tier amenities in an accessible location close to many of our clients.”
ESB is fully modernized with more than 65,000 square feet of amenities that include a tenant-only fitness center, conference center, and eight in-building dining options. The building will soon feature a 400+ person all-hands space with basketball/pickleball courts, golf simulators, and tenant lounge with full bar service. The Empire State Building’s iconic Observatory was just named the number one attraction for the second consecutive year by TripAdvisor Traveler’s Choice Awards: Best of the Best.
“Our internationally recognized brand continues to benefit from the market’s flight to quality as we attract new tenants who recognize the value of leasing at the fully modernized Empire State Building,” said Thomas P. Durels, executive vice president, leasing at ESRT. “Capco benefits from ESRT’s leadership in sustainability, energy efficiency, and indoor environmental quality as well as the building’s top-of-the-line amenities as they relocate their New York City office space to the ‘World’s Most Famous Building.’”
“The Empire State Building’s over $650 million modernization has made it the leader in energy efficiency, sustainability, indoor environmental quality and tenant amenities,” said Scott Klau, vice chairman at Newmark. “Along with its incredible location and ESRT’s best-in-class balance sheet, these differentiators have resonated with the market and produced extraordinary leasing activity.”
Jared Horowitz and Jason Perla of Newmark represented Capco in the lease negotiations, and Shanae Ursini and Jordan Berger of ESRT, and Scott Klau and Neil Rubin of Newmark represented the property owner.
More information about the Empire State Building, 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 for the second year in a row, in TripAdvisor’s 2023 Travelers’ Choice Awards: Best of the Best. The company is a leader in healthy buildings, energy efficiency, and indoor environmental quality. As of March 31, 2023, ESRT's portfolio is comprised of approximately 8.9 million rentable square feet of office space, 718,000 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.
Forward-Looking Statements
This press release includes "forward looking statements" within the meaning of the federal securities laws. You can identify these statements by use of words such as "assumes," "believes," "estimates," "expects," "intends," "plans," "projects" or similar words or expressions that do not relate to historical matters. You should exercise caution in interpreting and relying on forward-looking statements, because they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company's control and could materially affect actual results, performance or achievements. These factors include, without limitation, the risks and uncertainties detailed from time to time in the Company’s filings with the SEC and any failure of the conditions or events cited in this release. Except as may be required by law, the Company does not undertake a duty to update any forward-looking statement, whether as a result of new information, future events or otherwise.
Who signed a new lease with Empire State Realty Trust?
Capco, a global financial technology and management consultancy, signed a new lease with Empire State Realty Trust.
What is the size of the leased space?
The leased space is 26,620 square feet.
What floor is the leased space located on?
The leased space is located on the 68th floor of the Empire State Building.
What amenities does the Empire State Building offer?
The Empire State Building offers a tenant-only fitness center, conference center, eight in-building dining options, and soon a 400+ person all-hands space with basketball/pickleball courts, golf simulators, and tenant lounge with full bar service.
Who represented Capco in the lease negotiations?
Jared Horowitz and Jason Perla of Newmark represented Capco in the lease negotiations.
Who represented ESRT in the lease negotiations?
Shanae Ursini and Jordan Berger of ESRT, and Scott Klau and Neil Rubin of Newmark represented the property owner, ESRT.
