61 Transactions Completed Over Year
NEW YORK CITY, NY – January 12, 2012 – (RealEstateRama) — The Empire State Building, the World’s Most Famous Office Building, leased more than one-million square feet in 2011, announces Anthony Malkin, president of Malkin Holdings LLC, which supervises the property.
61 transactions were completed during this time frame, equating to 34.5 percent of the building. These transactions involved such prestigious tenants as LF USA, Coty, Inc., Human Rights Watch, Turkish Airlines, The Peter Lampack Agency, Goldin Associates, and The People’s Daily (one of China’s largest news agencies).
“Our large space consolidation program played a key role in this milestone,” says Mr. Malkin. “Through this program, we created large contiguous blocks from office space once occupied by over 400 tenants. Today, three tenants have new leases on floors 3-17, and we are moving that consolidation up the building with selected floors for our outstanding, energy- efficient pre-builts along the way.
“The Empire State Building once again has cachet and worldwide iconic status as an office building, and that has had a positive influence on leasing,” he adds. “Companies from around the world and locally appreciate the instant address and location identification of the building — many don’t even put the street address on their business cards, just the building name. The combination of the world’s-most-famous office address, an incredibly convenient location, and a vastly improving neighborhood are all coming together for us.”
Soaring 1,454 feet above Midtown Manhattan, the Empire State Building is the World’s Most Famous Office Building. With new investments in energy-efficiency, building-wide infrastructure upgrades, public areas and amenities totaling more than $550 million, the Empire State Building has attracted and continues to attract corporate office tenants in a diverse array of industries from around the world.
The Empire State Building also has taken a leading role in sustainability, partnering with the Clinton Climate Initiative, Rocky Mountain Institute, Johnson Controls and Jones Lang LaSalle to develop an innovative process for a comprehensive energy efficiency retrofit program that will reduce the building’s total energy consumption by 38% and that has led the building to receive an Energy Star rating of 90, placing it in the top 10% in energy efficiency among all buildings measured under the Energy Star program. The energy retrofit program that contributed to the Energy Star designation was also an important element in receiving the LEED-EB Gold certification from the United States Green Building Council.
The Empire State Building’s upgrades – planned and completed – include a comprehensive restoration of the Art Deco lobby and ceiling, along with the creation of four dedicated tenant entrances, visitor desk and access control, messenger center, new restrooms, air-conditioned public corridors, brand-new Otis Destination Dispatch Control elevators, new marble elevator cabs, 6,500 windows rebuilt on site for greater energy efficiency, improvements to the building-wide mechanical and electrical systems, and improved security systems.
The flagship of the W&H Properties’ Pre-War Trophy office portfolio, the Empire State Building is supervised by Malkin Holdings LLC, one of New York City’s most financially stable ownerships. High-end pre-built office suites are available throughout the building, along with fully white-boxed partial and full floors ready for tenant build-out from 10,000 square feet, and a contiguous large block of up to 275,000 square feet. Broker commissions are paid in full at lease signing.
From: W&H PROPERTIES
Contact: Rachel Antman or David Grant, LVM Group Inc.
(212) 499-6570; (212) 499-6565
rachel (at) lvmgroup (dot) com; david (at) lvmgroup (dot) com
