Latest news with #EmpireStateRealtyTrust
Business Wire
a day ago
- Business
- Business Wire
Elsberg Baker & Maruri PLLC Signs New 40k Square Foot Lease at the Empire State Building
NEW YORK--(BUSINESS WIRE)-- Empire State Realty Trust, Inc. (NYSE: ESRT) announced today that it signed a 39,237 square foot lease with law firm Elsberg Baker & Maruri PLLC at the Empire State Building. The firm will occupy one full and one partial floor at the 'World's Most Famous Building.' 'Elsberg Baker & Maruri is thrilled to move into the iconic Empire State Building,' said Josette Winograd, CEO at Elsberg Baker & Maruri. 'Our firm, client base, and team have grown exponentially, and we expect continued expansion. Our new office will accommodate our growth now and into the future and provide a state-of-the-art home base from which our trial lawyers will service clients worldwide.' The Empire State Building is a fully modernized landmark that offers newly built office space equipped with ESRT's premier indoor environmental quality and sustainability measures. The building features more than 65,000 square feet of unmatched amenities which include eight in-building dining options; a tenant-only fitness center; conference center; and the Empire Lounge with a 400-person all-hands space, a variety of comfortable seating areas, phone booths for private communication, a basketball/pickleball court, and 'ESRTees,' two golf simulators. 'Elsberg Baker & Maruri PLLC worked closely with ESRT's expert in-house architecture and project management team to design, build, and furnish their ideal New York City office space with excellent views and natural light,' said Thomas P. Durels, ESRT's EVP, Real Estate. 'We are pleased to welcome Elsberg Baker & Maruri to our tenant roster at the Empire State Building and to deliver an office space for the firm to grow and thrive.' Brian Goldman, Nicholas Lucia, and Jason Perla of Newmark represented Elsberg Baker & Maruri in the lease negotiations. Jordan Berger of ESRT and Scott Klau, Erik Harris, and Neil Rubin of Newmark represented the property owner. More information about the Empire State Building, and current office availability, can be found online. About Empire State Realty Trust Empire State Realty Trust, Inc. (NYSE: ESRT) is a NYC-focused REIT that owns and operates a portfolio of well-leased, top of tier, modernized, amenitized, and well-located office, retail, and multifamily assets. ESRT's flagship Empire State Building, the 'World's Most Famous Building,' features its iconic Observatory that was declared the #1 Attraction in the World – and the #1 Attraction in the U.S. for the third consecutive year – in Tripadvisor's 2024 Travelers' Choice Awards: Best of the Best Things to Do. The Company is a recognized leader in energy efficiency and indoor environmental quality. As of March 31, 2025, ESRT's portfolio is comprised of approximately 7.9 million rentable square feet of office space, 0.8 million rentable square feet of retail space and 732 residential units. More information about Empire State Realty Trust can be found at and by following ESRT on Facebook, Instagram, TikTok, X, and LinkedIn. Source: Empire State Realty Trust, Inc. Category: Leasing
Business Wire
14-07-2025
- Business
- Business Wire
Empire State Realty Trust Announces George L. W. Malkin Has Joined Its Board of Directors
NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) (the 'Company'), today announced that George L. W. Malkin has joined its Board of Directors, effective July 13, 2025. Mr. Malkin is President of Malkin Holdings. His career spans over a decade in operational and financial roles. Prior to Malkin Holdings, George was an executive at Sao Paulo based, private equity-backed wireless infrastructure multinational QMC Telecom, where he launched three international markets and served as Chief-of-Staff to the company's CEO. George also held multiple roles at the H.J. Heinz Company, where he implemented 3G Capital's restructuring and cost savings initiatives across the company's North American and Australian operations. George currently serves as a director at Map of Agriculture, a privately held agricultural data analytics business. He has a B.A. in International Relations with Honors from Stanford University, where he won the J.E. Wallace Sterling Award, and an M.B.A. from Stanford's Graduate School of Business. George is the son of Anthony E. Malkin, Chairman and Chief Executive Officer of the Company, and the grandson of Peter L. Malkin, Chairman Emeritus of the Company. 'We welcome George and his contributions to the board,' said Steven J. Gilbert, Empire State Realty Trust's Lead Independent Director. George added, 'I am delighted to join Empire State Realty Trust's Board of Directors and partner with such an accomplished leadership team.' About Empire State Realty Trust Empire State Realty Trust, Inc. (NYSE: ESRT) is a NYC-focused REIT that owns and operates a portfolio of well-leased, top of tier, modernized, amenitized, and well-located office, retail, and multifamily assets. ESRT's flagship Empire State Building, the 'World's Most Famous Building,' features its iconic Observatory that was declared the #1 Attraction in the World – and the #1 Attraction in the U.S. for the third consecutive year – in Tripadvisor's 2024 Travelers' Choice Awards: Best of the Best Things to Do. The Company is a recognized leader in energy efficiency and indoor environmental quality. As of March 31, 2025, ESRT's portfolio is comprised of approximately 7.9 million rentable square feet of office space, 0.8 million rentable square feet of retail space and 732 residential units. More information about Empire State Realty Trust can be found at and by following ESRT on Facebook, Instagram, TikTok, X, and LinkedIn. Source: Empire State Realty Trust, Inc.
Business Wire
07-07-2025
- Business
- Business Wire
Mott MacDonald Signs New 25,372 Square Foot, Full-Floor Lease at the Empire State Building
NEW YORK--(BUSINESS WIRE)-- Empire State Realty Trust, Inc. (NYSE: ESRT) today announced that it signed a new lease with Mott MacDonald NY Inc. – an engineering, development, and management consultancy – for a full-floor, 25,372 square foot space at the Empire State Building. The firm will also continue to occupy their current 18,434 square foot space at ESRT's 1400 Broadway. 'We look forward to welcoming colleagues to our new North America Headquarters at the Empire State Building, with its unmatched location, modern office space, and premier amenities. It supports our commitment to bringing people together in an environment that inspires, encourages collaboration, and advances our sustainability goals,' said Dean Radeloff, President and CEO Mott MacDonald North America. 'ESRT's proactive and committed service provided a seamless experience as we sought a new high-profile space,' added Anne Nolan, Regional Facilities and Real Estate Manager Mott MacDonald North America. The Empire State Building is a fully modernized landmark that offers newly built office space equipped with ESRT's premier indoor environmental quality and sustainability measures. The building features more than 65,000 square feet of unmatched amenities which include eight in-building dining options; a tenant-only fitness center and conference center; and the Empire Lounge with a 400-person all-hands space, a variety of comfortable seating areas, phone booths for private communication, a basketball/pickleball court, and 'ESRTees,' two golf simulators. 'Mott MacDonald is familiar with our turn-key office spaces, top tier amenities, sustainability leadership, and ESRT's high-end service,' said Thomas P. Durels, ESRT EVP, Real Estate. 'We are pleased that Mott MacDonald will continue their partnership with us and expand into the 'World's Most Famous Building.'' Sheena Gohil, Jack Senske, and Teresa DeLeo of Colliers International represented Mott MacDonald in the lease negotiations. Shanae Ursini of ESRT and Scott J. Klau, Erik Harris, Neil Rubin, Brent Ozarowski, Zachary Weil, and Cole Gendels of Newmark represented the property owner. More information about the Empire State Building, and current office availability, can be found online. About Empire State Realty Trust Empire State Realty Trust, Inc. (NYSE: ESRT) is a NYC-focused REIT that owns and operates a portfolio of well-leased, top of tier, modernized, amenitized, and well-located office, retail, and multifamily assets. ESRT's flagship Empire State Building, the 'World's Most Famous Building,' features its iconic Observatory that was declared the #1 Attraction in the World – and the #1 Attraction in the U.S. for the third consecutive year – in Tripadvisor's 2024 Travelers' Choice Awards: Best of the Best Things to Do. The Company is a recognized leader in energy efficiency and indoor environmental quality. As of March 31, 2025, ESRT's portfolio is comprised of approximately 7.9 million rentable square feet of office space, 0.8 million rentable square feet of retail space and 732 residential units. More information about Empire State Realty Trust can be found at and by following ESRT on Facebook, Instagram, TikTok, X, and LinkedIn. Source: Empire State Realty Trust, Inc. Category: Leasing
Business Wire
02-07-2025
- Business
- Business Wire
Empire State Realty Trust Announces Release of Schedule K-3
NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) (the 'Company'), today announced that its 2024 Schedule K-3 reflecting items of international tax relevance is available online. Unitholders requiring this information may access their Schedule K-3s at Certain shareholders (primarily non-U.S. shareholders, shareholders computing a foreign tax credit on their tax return and certain corporate and/or partnership shareholders) may need the information disclosed on Schedule K-3 for their specific reporting requirements. To the extent that Schedule K-3 may be relevant to your U.S. income tax situation, we encourage you to review the information contained in this form, refer to the appropriate U.S. laws and guidance and consult with your tax advisor. About Empire State Realty Trust Empire State Realty Trust, Inc. (NYSE: ESRT) is a NYC-focused REIT that owns and operates a portfolio of well-leased, top of tier, modernized, amenitized, and well-located office, retail, and multifamily assets. ESRT's flagship Empire State Building, the 'World's Most Famous Building,' features its iconic Observatory that was declared the #1 Attraction in the World – and the #1 Attraction in the U.S. for the third consecutive year – in Tripadvisor's 2024 Travelers' Choice Awards: Best of the Best Things to Do. The Company is a recognized leader in energy efficiency and indoor environmental quality. As of March 31, 2025, ESRT's portfolio is comprised of approximately 7.9 million rentable square feet of office space, 0.8 million rentable square feet of retail space and 732 residential units. More information about Empire State Realty Trust can be found at and by following ESRT on Facebook, Instagram, TikTok, X, and LinkedIn. Source: Empire State Realty Trust, Inc. Category: FINANCIAL
Time of India
26-06-2025
- Business
- Time of India
‘End of New York City as we know it…': Why Zohran Mamdani's possible win in mayoral race has Wall Street fretting; sense of doom prevails
The possible victory of Zohran Mamdani, the 33-year-old democratic socialist, in the upcoming New York mayoral polls has people on Wall Street worried. In Manhattan's financial district, pessimistic predictions are circulating. Tired of too many ads? go ad free now According to Wall Street recruitment specialist Michael Nelson, his clientele, typically earning above $1 million annually, express serious concerns. "This will be the end of New York City as we know it" reflects the sentiment amongst his affluent clients regarding Mamdani's potential November victory, he told Bloomberg. The impact is already visible in New York City property-related stocks. Flagstar Financial Inc., which provides loans to apartment complexes, experienced up to 6.7% decline on Wednesday. Property companies Empire State Realty Trust, SL Green Realty and Vornado Realty Trust also registered losses. Rise of Zohran Mamdani Even critics acknowledge that Zohran Mamdani, the 33-year-old democratic socialist, has garnered significant public support. "It's officially hot commie summer," wrote hedge fund billionaire Dan Loeb on X, following Mamdani's unexpected victory over Andrew Cuomo in the Democratic primary for the New York City mayoral position. Also Read | The statement reflects the genuine concern amongst the city's wealthy circles that a Mamdani victory in the November general election would result in increased taxation, potentially causing affluent residents to leave the five boroughs. An important detail is that Mamdani's tax proposals would require approval from New York State Governor Kathy Hochul, who has expressed opposition. Additionally, Mamdani's plan to raise $70 billion in debt faces significant obstacles. Tired of too many ads? go ad free now According to Kathy Wylde, a prominent New York intermediary who has facilitated connections between business leaders from finance, real estate and media with city officials for years, whilst Mamdani appeals to the youth, his ideological stance causes significant concern among taxpayers and employers. However, Mamdani successfully gained support from voters across diverse socioeconomic and racial communities. In his Wednesday morning address, he emphasised that "a life of dignity should not be reserved for a fortunate few." The foundation of his success lay in a strategic social media campaign that combined populist economic policies and progressive cultural messaging through viral-worthy video content. On Tuesday, he featured in an Instagram video alongside Emily Ratajkowski, who commands over 29 million followers. The model and actress sported a "Hot Girls for Zohran" t-shirt whilst encouraging voter turnout. This exemplified the clever strategy that enabled Mamdani to build a substantial volunteer base numbering in tens of thousands. These supporters diligently canvassed neighbourhoods, maintained street presence and utilised social media to reach voters. They promoted his policy agenda: Free childcare, state-operated grocery shops with reduced prices, complimentary bus transport, rent controls and additional measures - largely funded through increased taxation of wealthy individuals. Wall Street worried New York's establishment elite supported Cuomo, a 67-year-old Democratic veteran who positioned himself as an experienced centrist capable of addressing the city's challenges, from underground transit safety to the widely recognised cost-of-living issues. His campaign received substantial financial backing from prominent figures, including Michael R. Bloomberg, founder and primary owner of Bloomberg News parent Bloomberg LP, along with Bill Ackman, Loeb and Vornado's Steven Roth. His political action committee, Fix the City, accumulated an unprecedented primary campaign fund of nearly $25 million. However, the campaign's advertising strategy predominantly focused on criticising Mamdani rather than highlighting Cuomo's administrative plans. Despite resigning as New York governor following sexual harassment claims, which he contests, Cuomo maintained strong establishment support, including an endorsement from former President Bill Clinton. In contrast, Mamdani received endorsements from progressive leaders, including Democratic Congresswoman Alexandria Ocasio-Cortez and Senator Bernie Sanders. Some financial sector representatives appear to be considering a more accepting stance towards the democratic socialist candidate. "While we might disagree on certain issues, we should always be hopeful that Mamdani — if he ends up being elected mayor — can unite the city to address its critical education, public safety, housing and economic development needs," said Ralph Schlosstein, former head of Evercore Inc. and a longtime Democrat, according to the Bloomberg report. According to Rich Farley, an experienced Wall Street legal expert, numerous affluent residents view the November general election as crucial. A Mamdani victory could prompt wealthy individuals to seriously consider relocating from the city. Before this contest, high-net-worth donors must determine their stance towards Mamdani. Cuomo, potentially running as an independent, needs to convince supporters of his viability outside the Democratic primary framework. Should he continue his campaign, he will face Republican Curtis Sliwa and incumbent Eric Adams, who is running independently after avoiding the primary following corruption allegations. Some Wall Street professionals are contemplating more decisive actions. "I've already talked to hedge fund guys who have told me they have got a foot out the door," said Eric Rosen, who previously held senior positions at JPMorgan and in hedge fund management. "I left New York City 8 years ago because I didn't like the way the city was being run," he said. "I sold my Park Ave. co-op and its now down 25% and my house in Florida is up 250%. The market has spoken."
