SIGNATURE BANK GROWS AGAIN WITH EMPIRE STATE REALTY TRUST AT 1400 BROADWAY
Empire State Realty Trust (NYSE: ESRT) announced that Signature Bank has expanded its office space at 1400 Broadway, increasing its footprint by 32,927 square feet, bringing the total to 313,109 square feet. This marks the third expansion for Signature Bank at this location, following a January 2022 increase of 168,310 square feet. Signature Bank's decision reflects ESRT's reputation for energy efficiency and quality indoor environments. The building offers amenities including a tenants-only lounge and assembly space, advantageous for tenants seeking quality office environments.
- Signature Bank expanded its office space by 32,927 square feet, increasing total leased area to 313,109 square feet.
- ESRT is perceived as an industry leader in energy efficiency and indoor environmental quality, attracting quality tenants like Signature Bank.
- The property at 1400 Broadway offers amenities such as a tenants-only lounge and a new 'town hall' assembly space.
- None.
After recently more than doubling its office footprint, Signature takes an additional 32,927 square feet
NEW YORK, April 5, 2022 /PRNewswire/ -- Empire State Realty Trust, Inc. (NYSE: ESRT) announced that Signature Bank, a New York-based full-service commercial bank, has expanded its footprint at 1400 Broadway for the third time. Signature has taken another full, 32,927 square feet for a total of 313,109 square feet.
In January 2022, ESRT announced that Signature expanded by 168,310 square feet to over 280,000 square feet. The company will now take the building's full 16th floor and occupy 11 full floors under a long term lease.
"ESRT continues to benefit from the market flight to quality," said Thomas P. Durels, executive vice president, real estate at Empire State Realty Trust. "Signature, a top financial institution, understands ESRT is an industry leader in energy efficiency, indoor environmental quality, and healthy buildings and has taken advantage of our value proposition at 1400 Broadway."
Located along the Broadway Pedestrian Plaza, 1400 Broadway provides convenient access to nearby transportation, dining, lodging, and entertainment. Tenants benefit from ESRT's leadership in energy efficiency and premier indoor environmental quality – which includes MERV 13 filters and active bi-polar ionization – as well as a tenants-only lounge and a new "town hall" assembly space to be delivered late 2022, at rents that are a fraction of newer buildings.
Michael Cohen, Andrew Roos, and Howard Kaplowitz of Colliers International NY represented Signature Bank in the lease negotiations. Scott Klau, Erik Harris, Neil Rubin, of Newmark and Ryan Kass of Empire State Realty Trust represented the property owner.
More information about 1400 Broadway, and current availability, 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 and retail 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 Dec. 31, 2021, ESRT's portfolio is comprised of 9.4 million rentable square feet of office space, and approximately 700,000 rentable square feet of retail space. 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, the current public health crisis and economic disruption from the COVID-19 pandemic, a failure of conditions or performance regarding any event or transaction described above, regulatory changes, 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.
FAQ
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