Fintech
Fintech Company Gets 41 KSF at Empire State Building
ESRT has owned the Empire State Building since 2013. Image courtesy of Empire State Realty Trust
Empire State Realty Trust has signed a 40,679-square-foot lease for the 2.8 million-square-foot Empire State Building in Midtown Manhattan. Fintech company Pontera Solutions Inc. will move from its 10,539-square-foot space at 111 W. 33rd St., a 717,065-square-foot office tower in Chelsea owned by the same owner. JLL negotiated on behalf of the tenant, while Newmark represented Empire State Realty Trust.
The 102-story skyscraper was originally built in 1931 and features 64 passenger elevators, floors between 12,905 square feet and 100,512 square feet, a fitness center, controlled access, and retail spaces on the first floor and mezzanine.
Current ownership took over the iconic Art Deco building in 2013, when ESRT purchased it as part of a $711 million portfolio deal with Helmsley Enterprises, according to CommercialEdge. With the conclusion of this new lease, Pontera will join the tower’s roster that includes LinkedIn, First American Equities, Security Mutual Life Insurance Co., Skanska and Turkish Airlines, according to the same source.
The latest aesthetic renovations of the Empire State Building date back to 2019, for a total cost of 650 million dollars. The skyscraper’s amenity package, which measures more than 65,000 square feet, now includes multiple indoor dining options, a conference center and the Empire Lounge, a soon-to-open 400-person tenant lounge with basketball and pickleball courts and two simulators of golf.
New tenants at the Empire State Building
The JLL team of CEO Justin Haber and Executive Vice President Kyle Riker negotiated for the tenant. Ownership was represented internally by ESRT Vice President of Leasing Shanae Ursini, with assistance from Newmark Vice President Scott Klau, Executive Managing Director Erik Harris and Managing Director Neil Rubin.
The lease follows a series of multiple recent commitments at the property. In January, a 109-year-old insurance company signed a all-round deal. Last July, Capco signed a contract of 26,620 square foot deal, moving its New York headquarters to the building’s 68th floor. Around the same time, the ESRT landed two further agreements for a total of 40,000 square feet, with Skanska and Aprio.