EMPIRE STATE REALTY TRUST SIGNS SESAC MUSIC GROUP AT 250 WEST 57TH STREET
Empire State Realty Trust (NYSE: ESRT) has signed a lease with SESAC MUSIC GROUP for the entire 24th floor at 250 West 57th Street, totaling 12,611 square feet. This move highlights the building's appeal, enhanced by sustainability practices and superior amenities. SESAC's CEO praised the location for its convenient access to transport and dining. The property has been transformed into a boutique office space, benefiting from a flight to quality. ESRT's portfolio comprises approximately 9.4 million rentable square feet of office space, with growing interest in high-quality real estate.
- New lease signed with SESAC MUSIC GROUP for 12,611 square feet at 250 West 57th Street.
- Building features leading sustainability practices and high-end amenities.
- Strong location near key attractions and transport options.
- None.
NEW YORK, May 20, 2022 /PRNewswire/ -- Empire State Realty Trust, Inc. (NYSE: ESRT) announced a new lease with SESAC MUSIC GROUP, a leading music rights management and content company, for the full 24th floor at 250 West 57th Street that totals 12,611 square feet.
"Industry-leading sustainability practices, proximity to transportation, and excellent building amenities make 250 W. 57th Street a solid choice for our new office," said John Josephson, CEO at SESAC MUSIC GROUP.
The property at 250 West 57th Street continues to benefit from a flight to quality following its transformation into a boutique office building with high end full-floor tenant buildouts by Fogarty Finger, new lobby designed by Gensler, and leading indoor environmental technology and energy efficiency.
Located on Billionaire's Row, 250 West 57th Street has nearby dining that includes Marea, Nobu, and Masa; convenient access to Central Park, Carnegie Hall, and Lincoln Center; in-building access to the Columbus Circle subway station and convenient to the Shops at Columbus Circle.
"SESAC is a welcome addition to our impressive tenant roster at 250 West 57th Street," said Thomas P. Durels, executive vice president, real estate at Empire State Realty Trust.
TJ Hochanadel of JLL represented SESAC in the lease negotiation. Jordan Berger of ESRT and Paul J. Amrich, Neil V. King III, Alexander Golod, and Anthony Manginelli of CBRE represented the property owner.
More information about 250 West 57th Street, and current availabilities, can be found online.
About Empire State Realty Trust
Empire State Realty Trust, Inc. (NYSE: ESRT) is a NYC-focused REIT that owns and manages a well-positioned property portfolio of office, retail and multifamily assets in Manhattan and the greater New York metropolitan area. Owner of the Empire State Building, the World's Most Famous Building, ESRT also owns and operates its iconic, newly reimagined Observatory Experience. 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 March 31, 2022, ESRT's portfolio is comprised of approximately 9.4 million rentable square feet of office space, 700,000 rentable square feet of retail space and 625 units across two 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 contains forward-looking statements within the meaning of the Federal securities laws. You can identify these statements by our use of words such as "assumes," "believes," "estimates," "expects," "intends," "plans," "projects" or the negative of these words 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 ESRT's control and could materially affect actual results, performance or achievements. Such factors and risks include, without limitation, (i) the current public health crisis and economic disruption from the COVID-19 pandemic, (ii) a failure of conditions or performance regarding any event or transaction described above, (iii) environmental uncertainties and risks related to climate change, adverse weather conditions, rising sea levels and natural disasters; and (iv) accuracy of our methodologies and estimates regarding ESG metrics and goals, (v) tenant willingness and ability to collaborate in reporting ESG metrics and meeting ESG goals, (vi) impact of governmental regulation on our ESG efforts, (viii) and other risks and uncertainties described from time to time in ESRT's and ESROP's filings with the SEC, including those set forth in each of ESRT's and ESROP's Annual Report on Form 10-K for the year ended December 31, 2021 under the heading "Risk Factors." Except as may be required by law, ESRT and ESROP do not undertake a duty to update any forward-looking statement, whether as a result of new information, future events or otherwise.
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SOURCE Empire State Realty Trust, Inc.
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