News:
Brokerage
Posted: June 28, 2022
Empire State Realty signs SESAC MUSIC GROUP to 12,000 s/f lease
New York, NY According to Empire State Realty Trust, Inc. (NYSE: ESRT), SESAC MUSIC GROUP, a leading music rights management and content company, has completed a lease for the full 24th floor at 250 West 57th St. that totals 12,611 s/f.
"Industry-leading sustainability practices, proximity to transportation, and excellent building amenities make 250 W. 57th St. a solid choice for our new office," said John Josephson, CEO at SESAC MUSIC GROUP.
The property at 250 West 57th St. continues to benefit from a flight to quality following its transformation into a boutique office building with high end full-floor tenant buildouts by Fogarty Finger, new lobby designed by Gensler, and leading indoor environmental technology and energy efficiency.
250 West 57th St. has nearby dining that includes Marea, Nobu, and Masa; convenient access to Central Park, Carnegie Hall, and Lincoln Center; in-building access to the Columbus Circle subway station and convenient to the Shops at Columbus Circle.
"SESAC is a welcome addition to our impressive tenant roster at 250 West 57th St.," said Thomas Durels, executive vice president, real estate at Empire State Realty Trust.
TJ Hochanadel of JLL represented SESAC in the lease negotiation. Jordan Berger of ESRT and Paul Amrich, Neil King III, Alexander Golod, and Anthony Manginelli of CBRE represented the property owner.
Tags:
Brokerage
MORE FROM Brokerage
AmTrustRE completes $211m acquisition of 260 Madison Ave.
Manhattan, NY AmTrustRE has completed the $211 million acquisition of 260 Madison Ave., a 22-story, 570,000 s/f office building. AmTrustRE was self-represented in the purchase. Darcy Stacom and William Herring
.jpg)
Quick Hits
Columns and Thought Leadership
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian
Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.
Strategic pause - by Shallini Mehra and Chirag Doshi
Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski
The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account
AI comes to public relations, but be cautious, experts say - by Harry Zlokower
Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
.gif)