News: Brokerage

Cohen, Kass, Davidson of Newmark Knight Frank represent W&H (landlord) in 5,863 s/f lease to Turkish Airlines

Turkish Airlines has leased one of W&H's pre-builts, totaling 5,863 s/f, on the 75th floor of the Empire State Building, which also houses Air China and Lufthansa, according to Fred Posniak, senior VP of W&H Properties. The firm will move to the building from its current location in Westbury. Turkish Airlines is the flag carrier of the Republic of Turkey and is a member of the Star Alliance, the world's largest airline alliance. With a fleet of 142 airplanes, Turkish Airlines services 126 airports internationally and 39 domestically. "International airlines are a great fit for the Empire State Building," said Posniak. "They market to a global audience, and this audience immediately identifies with The World's Most Famous Office Building." Turkish Airlines' new office is one of the latest pre-builts to be unveiled by the Empire State Building. These units are LEED candidates, and feature Energy Star appliances, tenant-controlled HVAC, high-end finishes composed of sustainable materials, an abundance of natural light throughout from glass-walled offices and conference rooms, daylighting, sub-metered electric, and panoramic views. Albert Duryea and Tina Duryea of ITRA/New York Realty Group represented Turkish Airlines in the lease negotiations. William Cohen, Ryan Kass and Lauren Davidson of Newmark Knight Frank represented the landlord. Soaring 1,454 ft. above Midtown Manhattan, the Empire State Building is the World's Most Famous Office Building. With new investments in infrastructure, public areas and amenities totaling more than $550 million, the Empire State Building has attracted and continues to attract corporate 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 is also an important element in the target to seek 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 a dedicated 34th St. tenant entrance, visitor desk and access control, messenger center, new restrooms, air-conditioned public corridors, new marble elevator cabs, 6,500 new windows, improvements to the building-wide mechanical and electrical systems, and improved security systems. Part 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. Additional high-end pre-built suites are still available throughout the building, along with fully white-boxed partial and full floors ready for tenant build out from 10,000 s/f, and a contiguous large block of up to 373,479 s/f now available. Broker commissions are paid in full at lease signing.
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