Empire State Realty Trust Signs New Full-Floor Lease with Greater New York Mutual Insurance Company at the Empire State Building

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01/25/2024 - 04:30 PM EST

NEW YORK--(BUSINESS WIRE)-- Empire State Realty Trust, Inc. (NYSE: ESRT) announced today that it signed Greater New York Mutual Insurance Company (GNY Mutual) for a new full-floor, 52,116 square foot space at the world-famous Empire State Building (ESB). GNY Mutual has served policyholders since 1914 and earned an A+ (Superior) rating from A.M. Best for more than 30 consecutive years.

Rendering: The new all hands tenant amenity space at the Empire State Building with basketball/pickleball courts, lounge, and golf simulators. (Photo: Business Wire)

"As a 109-year-old insurance company who specializes in providing coverage solutions for commercial real estate owners, we appreciate the significance of the Empire State Building to the NYC real estate community," said Elizabeth Heck, chairman, president, and CEO of GNY Mutual. "As an employer, we are attracted to ESB for its industry-leading sustainability measures and excellent tenant amenities which aid in employee recruitment and retention in addition to our hybrid work environment."

ESB is a fully modernized landmark that offers newly built office space equipped with ESRT’s premier indoor environmental quality and sustainability measures. The building houses more than 65,000 square feet of amenities which include a tenant-only fitness center, conference center, eight in-building dining options, and a 400+ person all-hands space with basketball/pickleball courts and golf simulators soon to come. ESRT recently announced new retail leases at the Empire State Building with Ghirardelli and Samurice.

“We are pleased to welcome GNY Mutual to our tenant roster at the Empire State Building,” said Thomas P. Durels, executive vice president, real estate at Empire State Realty Trust. “ESRT continues to attract high quality office tenants as we provide modernized office spaces in prime locations with top-tier amenities.”

Mark Ravesloot of CBRE represented GNY Mutual in the lease negotiations. Scott Klau, Erik Harris, Neil Rubin, Brent Ozarowski, Zachary Weil, and Cole Gendels of Newmark and Jordan Berger, Shanae Ursini, and Kerry Lavelle of ESRT 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 NYC-focused REIT that owns and operates a portfolio of modernized, amenitized, and well-located office, retail, and multifamily assets. The company is the recognized leader in energy efficiency and indoor environmental quality. ESRT’s flagship Empire State Building – the “World’s Most Famous Building” – includes its Observatory, the #1 attraction in the U.S. in Tripadvisor’s 2023 Travelers’ Choice Awards: Best of the Best for two consecutive years. As of September 30, 2023, ESRT's portfolio is comprised of approximately 8.6 million rentable square feet of office space, 0.7 million rentable square feet of retail space and 727 residential units. More information about Empire State Realty Trust can be found at esrtreit.com and by following ESRT on Facebook, Instagram, TikTok, X, and LinkedIn.

Source: Empire State Realty Trust, Inc.
Category: Leasing