Empire State Realty Lands New Tenant at NYC HQ

By Corina Stef

111 W. 33rd St., New York City

Real estate investment trust Empire State Realty Trust inked an 80,900-square-foot lease with fashion retailer Gap Inc. at its corporate headquarters. The tenant will occupy two entire floors at the 26-floor 111 W. 33rd St., located in Manhattan’s Chelsea neighborhood. CBRE Executive Vice President Eric Deutsch and Senior Vice President Jared Freede acted on behalf of the tenant, while ESRT Vice President of Leasing Keith Cody represented the landlord, accompanied by Newmark Knight Frank Vice Chairman Scott Klau, Senior Managing Director Erik Harris and Director Neil Rubin.

According to Yardi Matrix, the 717,076-square-foot office building encompasses 89,529 square feet of retail space. Built in 1954 and recently renovated, the asset features a sleek stone and marble lobby, new elevators, restrooms and entryways designed by STUDIOS Architecture, a modern and energy-efficient glass curtain wall and air-conditioned corridors. The building’s safety, electrical, security, plumbing and HVAC systems were also upgraded.

The asset is bordered by Herald Square and Greeley Square and neighboring amenities include retailers, restaurants, bars, office services and hotels. Located adjacent to the Herald Square transportation hub, it is within walking distance of Penn Station, PATH trains, Port Authority Bus Terminal and multiple subway lines.

The building serves as ESRT’s headquarters, but other notable tenants include The Michael J. Fox Foundation, The Bridgespan Group, McGlinchey Stafford, Lion Biotechnologies, Macy’s and Target, which signed a lease just two months ago.

Image courtesy of Yardi Matrix