Empire State Realty Trust Inks 70 KSF in Manhattan

1359 Broadway. Image courtesy of Empire State Realty Trust

Empire State Realty Trust has signed a new lease with fertility benefits management company Progyny, which will occupy 70,573 square feet across three floors at 1359 Broadway in New York City.

The space Progyny has committed to includes one floor that it previously subleased, one floor it will occupy in late 2022, as well as a third floor the company plans to occupy in early 2024.

Newmark represented Progyny in the lease negotiations, while CBRE represented Empire State Realty Trust.

Originally completed in 1924, the 22-story office building was fully renovated in 2005, according to CommercialEdge data. The property features energy efficiency and indoor environmental quality measures. Approximately 19,438 square feet of retail is also available on the first floor, according to the same data provider. Floorplates average 24,292 square feet. Other tenants in the building include companies such as Li & Fung, Siense, BLJ Worldwide, AI Media Group, BMR Energy and Papyrus.

The office building rises along the rejuvenated Broadway Pedestrian Plaza, providing easy access to transportation hubs, subway lines, as well as several retail, dining and entertainment venues. Central Park is less than half a mile east of the property.

Active in Manhattan

Last month, ESRT inked 428,481 square feet in office leases in four separate transactions. Last year, ESRT closed on several other leases at its Manhattan office assets. Burlington Stores doubled its footprint at 1400 Broadway in April 2021, while Belkin Burden Goldman LLP and Dime Community Bank also leased 50,000 square feet at ESRT’s One Grand Central Place.